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AMERI Holdings shares nearly double after announcing new contract with MedData

The contract is the first for AMERI Holdings in the health care sector

Computer keyboard with data drives
The companies didn't disclose the deal's terms

Shares in AMERI Holdings Inc (NASDAQ:AMRH), a specialized IT service company, soared Tuesday after the company’s subsidiary, Ameri 100, announced a deal to implement a robotic process automation solution for MedData, a provider of financial services for hospitals and health systems.

Prior to the opening bell, Ameri Holdings nearly doubled to US$2.14.

The new contract, which is the first for Ameri100 in the health care sector, will center on the implementation of UiPath’s Robotic Process Automation (RPA) solution as a way to modernize MedData’s IT legacy platform.

The introduction of RPA will pave the way for MedData to transform its internal processes and Ameri100 will also help the company to automate its back-end processing.

“The health care sector represents a significant long-term opportunity for Ameri 100 as enterprises move to prioritize patient experiences through the deployment of new technologies that improve not only patient satisfaction levels, but also enterprises’ bottom lines,” said Brent Kelton, CEO of Ameri100.

Neither company divulged the deal’s terms.

Ameri100, which is headquartered in Suwanee, Georgia, provides SAP services to customers.

Based in Brecksville, Ohio, MedData, meanwhile, is a provider of technology-enabled management services for hospitals and health systems.

Quick facts: AMERI Holdings Inc

Price: 1.44 USD

Market: NASDAQ
Market Cap: $8.26 m

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