Onemednet nasdaq Onmd Stock Rockets Higher on Strong Irwd™ Network Growth Report

OneMedNet (NASDAQ: ONMD) Stock Rockets Higher on Strong iRWD™ Network Growth Report

OneMedNet (NASDAQ: ONMD) stock skyrocketed during intraday trading Thursday as the company reported extensive growth in its proprietary iRWD™ network and platform.

OneMedNet (ONMD) recently revealed that its exclusive iRWD™ network and platform have grown over fivefold. iRWD, short for Real World Data, represents a versatile system engineered for managing various clinical data categories, including electronic health records, laboratory results, and medical imaging. Through this innovation, OneMedNet empowers its customers to securely de-identify, search, and curate clinical data, facilitating medical research and advancements in healthcare innovation.

The expansion results from strategic network partnership agreements, including a recent collaboration with an undisclosed nationwide medical records custodian. Through these partnerships, OneMedNet now offers its growing customer base seamless access to an expanded set of Real World Data. The company’s robust network now encompasses 1,402 healthcare system and provider partner sites, serving 31.0 million patients and comprising 121.4 million clinical exams.

The year-to-date surge in partner sites, patients, and clinical exams signifies remarkable growth rates of 472%, 170%, and 122%, respectively, since the conclusion of 2023. 

Aaron Green, President and CEO of OneMedNet expressed pride in the company’s accomplishments, stating,

“As demonstrated by this significant expansion of our network, we continue to successfully execute against the key pillars of our growth strategy.”

Green added,

“Our vision is to harness the full potential of RWD to drive innovation in healthcare. By providing our customers with comprehensive access to valuable, regulatory-grade clinical data across our growing network, we are not just furnishing more numbers — we are delivering the de-identified and hard-to-curate information needed to help foster a new era of medical excellence.”

OneMedNet (NASDAQ: ONMD) Stock Movement

On Thursday, ONMD stock soared 208.43%, closing at $1.47, marking a 193.41% increase for the week. The trading volume was 198,182,992 shares, significantly higher than the average daily volume of 3.58 million.