What happened

Shares of Phreesia (PHR -6.32%) gained 16.4% in January, according to data from S&P Global Market Intelligence . The healthcare software stock gained ground following an announcement that a health services network is integrating the company's service. 

PHR Chart

PHR data by YCharts

Phreesia stock benefited from Lee's Summit Physicians Group announcing on Jan. 16 that it had begun using the company's self check-in system and started offering its payment services. Phreesia stock is now up roughly 30% from its price at market close on the day of its initial public offering last July. 

So what

Lee's Summit Physicians Group announced last month that it had implemented Phreesia's patient check-in and optional payment services. In a press release, the Missouri-based healthcare services network touted the benefits and convenience offered by Phreesia's software.

The company provides software-as-a-service (SaaS) applications for healthcare providers that help manage patient intake and payments. It generates roughly 80% of its sales from recurring revenue streams, and customers tend to stick with the company's services once integrating them.

Now what

Phreesia stock has continued to climb in February, with shares up roughly 5% in the month's trading so far. 

PHR Chart

PHR data by YCharts

Phreesia has outlined expectations that payments processed through its platform will reach $1.4 billion in 2019, revenue will grow more than 25% to hit $100 million, and that the company has a total addressable market of roughly $7 billion. 

Phreesia is valued at roughly eight times this year's expected sales.