Verizon Communications Inc. VZ joined forces with Emory Healthcare, a leading academic health system in Georgia, to develop its 5G Ultra Wideband-enabled use cases in a way that will likely transform the healthcare industry. The New York-based telecom giant’s 5G Ultra Wideband network is currently live at the Emory Healthcare Innovation Hub (EHIH) in Atlanta. To be inaugurated on Feb 28, this will be the nation’s first 5G healthcare innovation lab.
Apart from providing EHIH with 5G service, Verizon will deliver network and security services, project management, professional consulting services and managed infrastructure and will also be part of the Emory Hub Executive Advisory Board. Verizon plans to collaborate with Emory Healthcare and its nine Innovation Hub partners, including founding partner Sharecare, to accelerate the development of 5G-driven healthcare solutions.
This initiative is part of Verizon’s broader strategy to partner with customers, startups, universities and large enterprises to discover how 5G is likely to disrupt virtually every industry. Verizon 5G network’s massive bandwidth, super-fast speeds and ultra-low latency are likely to redefine patient care with real-time data analytics. With this, EHIH will be able to test how 5G can improve AR/VR applications for medical training.
Verizon operates five 5G Labs in the United States and one 5G Lab in London that specialize in developing 5G use cases in various industries, ranging from healthcare to public safety to entertainment. While this would be the first 5G lab Verizon has set up on-premises for a customer, it will be part of an ongoing initiative to co-develop 5G-related use cases to help customers transform their business operations.
The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These involve massive spectrum holdings, particularly in the millimeter wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy large number of small cells. Verizon has systematically invested in 5G technology to gain a foothold in the ecosystem.
With the ramp-up of 5G service across the country, Verizon is likely to capitalize on ample opportunities while underplaying competitive pressure. Further, its focus on upgrading network will augment speed and performance for better customer service. The company aims to retain its lead in promulgating 5G mobile networks nationwide by using virtualized machines, advanced levels of operational automation and adaptability. Verizon 5G Ultra Wideband mobility service is currently available in 34 U.S. cities with seven 5G-enabled devices and 17 NFL Stadiums.
Shares of Verizon have gained 2.3% compared with the industry’s growth of 9.7% in the past six months. The company surpassed earnings estimates thrice in the trailing four quarters and missed the same in remaining one quarter, delivering a positive surprise of 1%, on average.
Verizon currently has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader industry are Motorola Solutions, Inc. MSI, Qualcomm Incorporated QCOM and PCTEL, Inc. PCTI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Motorola has trailing four-quarter positive earnings surprise of 6.6%, on average.
Qualcomm has trailing four-quarter positive earnings surprise of 10%, on average.
PCTEL has trailing four-quarter positive earnings surprise of 150.6%, on average.
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