The agreement will see SCWorx’s Foundation product power the partner’s offerings with data cleansing, normalization, and enrichment services.
SCWorx Corp recorded its strongest trading session in three months on Tuesday after announcing a new agreement with a “leading healthcare supply chain partner,” bolstering its software-as-a-service (SaaS) data management program.
The stock surged 31.1% to close at $0.38 on Tuesday before slipping 12.1% in after-hours trading.
The partner, an unnamed entity in healthcare supply chain consulting, works with hospitals nationwide to cut costs, vet vendors, and optimize procurement across both direct and indirect categories.
SCWorx stated that the group leverages billions in spending and has purchasing partners in all 50 U.S. states.
“This partner drives measurable savings by vetting vendors, analyzing contracts, and leveraging billions in spend through strategic purchasing,” said SCWorx CEO Tim Hannibal.
He added that SCWorx’s Foundation product will enhance the partner’s offerings with services such as data cleansing, normalization, and enrichment, reinforcing the company’s value proposition to hospitals.
The company’s SaaS platform integrates modules for contract management, rebate automation, item master data, and analytics into a single source to meet the governance and reporting needs of healthcare providers.
On Stocktwits, retail sentiment for SCWorx was ‘extremely bullish’ amid a 2,850% surge in 24-hour message volume.
One user speculated that a buyout might be on the horizon for SCWorx.
Another noted they had re-entered the stock just before the close, calling the late dip a good buying opportunity.
SCWorx’s stock has declined 77.4% so far in 2025.
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