Microsoft Corporation (MSFT) Sitting on a $1B Healthcare Unit

Microsoft Corporation (NASDAQ:MSFT) has a massive health unit that’s worth a staggering amount of money. That’s according to the company’s chief medical officer, who has shared some insight into what the tech behemoth has at its disposal.

CNBC has the details on Microsoft’s health unit.

The health unit at Microsoft is a multi-billion dollar business, the company’s chief medical officer said on CNBC’s new “Beyond The Valley” podcast.

Simon Kos, who is a doctor by training, joined Microsoft in 2010, and his role is to give guidance on the U.S. company’s work in the health care industry. Microsoft has 1,100 people working in its health unit, and the business claims 168,000 customers in the industry. The software giant creates products for hospitals and other institutions within health care using its cloud products.

During an appearance on CNBC’s “Beyond The Valley,” Kos provided some insight into the company’s partners. “So we’ve got about 14,000 of them (partners) in health care around the world, and for us that means health at Microsoft is a multi-billion dollar organization growing faster than the market,” he said.

Just last year, the company launched an initiative known as Healthcare NExT, which is focused on finding ways to apply its artificial intelligence and cloud products to the health industry. Fellow tech giants Apple and Google have also been ramping up efforts in the health care space.

Microsoft Corporation shares were trading at $106.25 per share on Tuesday morning, up $0.88 (+0.84%). Year-to-date, MSFT has gained 25.34%, versus a 6.14% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 67 stocks in the Software – Application category.