Healthcare Triangle Releases Methodology for Blockchain Transformation for Pharma Supply Chain
Healthcare Triangle Inc. (HCTI) has launched Blockedge Glu, a new framework aimed at transforming pharmaceutical supply chains using blockchain technology. This initiative addresses significant issues such as drug traceability, with the potential to combat the alarming $200 billion loss to counterfeit drugs annually, according to BIS Research. The framework is designed to facilitate easier integration of complex IT systems with blockchain networks, providing a comprehensive playbook for industry leaders. This move aligns with increasing compliance requirements from the FDA under the Drug Supply Chain Security Act (DSCSA).
- Launch of Blockedge Glu framework to enhance pharma supply chain using blockchain.
- Addresses the $200 billion annual loss in the pharma industry due to counterfeit drugs.
- Designed to simplify integration of complex IT systems with blockchain networks.
- None.
This methodology provides a framework for pharma organizations towards transforming their existing Supply Chain solutions with Blockchain
PLEASANTON, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Healthcare Triangle Inc., (Nasdaq: HCTI) (“HCTI” or the "Company"), a leading provider of cloud and data transformation solutions, is pleased to announce the release of Blockedge Glu, which provides a framework and methodology for a blockchain transformation of pharma supply chain eco system in partnership with blockedge.io a leading blockchain transformation provider.
Creating end-to-end visibility in supply chain management and maintaining prescription drug traceability and integrity hold utmost importance in the pharmaceutical industry, which is currently accelerated by the compliance requirements DSCSA from FDA.
“FDA’s requirements alone are not the driving factor behind accelerating the blockchain transformation of pharma supply chain”, says Chairman and CEO of Healthcare Triangle, Suresh Venkatachari. Per BIS Research, Pharma companies currently lose
“Blockchain is the best track & trace solution available for us today, giving complete end-to-end supply chain visibility, thus can make a significant difference, if adopted right.” Venkatachari continued, “Blockedge Glu is designed to make this adoption right by addressing major challenges involved by providing a framework which reduces the complexities of integrating existing large and complex IT systems with one or more blockchain networks while also providing a transformation methodology that servers as a playbook for IT and business leaders to implement, what’s becoming to be, the multi-year transformation program.”
For more information, or to request a demo, visit https://healthcaretriangle.com/hti-blockedge/
About Healthcare Triangle, Inc. (HCTI)
Healthcare Triangle, Inc. based in Pleasanton, Calif., reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare organizations—including hospitals and health systems and health plans—as well as pharma and life sciences organizations, in their efforts to improve health outcomes. Healthcare Triangle enables the rapid adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. For more information, visit HealthcareTriangle.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the Company's initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Risk Factors section of the Company's Registration Statement and preliminary prospectus for the offering filed with the SEC. Thus, actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.
Healthcare Triangle, Inc. Contact:
For Media Enquiries:
Michael Campana
michael.c@healthcaretriangle.com
Healthcare Triangle, Inc. Investor Relations:
John McNamara
john@tradigitalir.com
917-658-2602
FAQ
What is Blockedge Glu released by HCTI?
How much does the pharma industry lose annually to counterfeit drugs?
What compliance requirements is the blockchain transformation responding to?
What does the Blockedge Glu framework aim to improve?
How does Blockedge Glu assist IT and business leaders?
