Palantir Signs $31.5 Million Deal With the U.K.’s NHS

Palantir Technologies signs a new, two-year contract with the U.K. National Health Service worth an estimated $31.5 million.
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Palantir Technologies  (PLTR) - Get Report, the software security and analytics provider co-founded by well-known tech investor Peter Thiel, has signed a new two-year contract with the U.K. National Health Service worth an estimated $31.5 million.

Palantir Foundry will provide the NHS with a software platform to “enable NHS decision makers to best plan use of resources and improve patient care,” the company said in a statement.

Specifically, the NHS will continue to use Palantir Foundry as part of its Covid-19 response, including the planning and operational rollout of the U.K.'s vaccine program.

It also will use Palantir’s software and systems to monitor and collect data to determine how to allocate health and care resources in emerging hot spots where the disease is flaring up, and ensure critical equipment is supplied to the facilities with the greatest need.

Earlier this month, Palantir garnered a $44.4 million contract from the Food and Drug Administration to assist with drug reviews and inspections, possibly including Covid-19 treatments.

The three-year deal came from the FDA’s Center for Drug Evaluation and Research and the Oncology Center of Excellence.

Palantir shares have climbed more than 70% since the company posted mixed third-quarter earnings, though the stock has wavered more recently amid analyst reports that it may not have the kind of earnings potential that its current stock price suggests.

The Denver-based big-data analytics company founded in 2004 went public at the end of September at $7.25 a share. The stock was up 1.25% at $28.40 in trading on Wednesday.