Large companies leverage startup blockchain technologies

Digipharm, a startup developing the world’s first smart contract platform for flexible pricing of healthcare technology and treatment provision, is starting a new blockchain project with NHS Wales and Roche Diagnostics. For FQX and its partners Credit Suisse, SFS and Mikron, their pilot project just ended on a positive note.

Cwm Taf Morgannwg University Health Board (CTMUHB) of NHS Wales, Roche Diagnostics, Digipharm and Life Sciences Hub Wales are launching a cutting-edge project to develop an innovative value-based contracting approach to pioneer sustainable procurement and improve the diagnosis of heart failure in patients.

The project relies on Digipharm’s blockchain platform, focusing on the value of the diagnostic test within the heart failure pathway and determining a fair payment structure based on the value generated. This will create sustainable outcomes that matter to patients and drive efficiencies for healthcare systems. The long-term objective is to create shorter waiting times, quicker diagnostics, and better health outcomes.

The procurement, clinical, operational and informatics teams at CTMUHB will develop and implement a Value-Based Health Care-led purchasing strategy for the NTproBNP diagnostic test. This is a simple and quick test developed by Roche for diagnosing heart failure, which works by detecting levels of proteins produced by the heart when it is under stress. To optimise its use and improve patient management and outcomes, all partners will work together to understand how this diagnostic test is currently being used within the chronic heart failure pathway. Throughout the project, Life Sciences Hub Wales will be providing management and communications support – convening and coordinating partners.

According to Ahmed Abdulla, CEO of Digipharm, this collaboration is the first of its kind globally as it focuses on a diagnostic test, which will impact not only clinical outcomes but also provide financial and operational efficiencies that will transform the way resources are allocated, and care is providing.

FQX, Credit Suisse, SFS and Mikron reap positive pilot test result
Zurich-based Fintech startup FQX built the first market-ready solution for eNotes, a disruptive short-term financing and payment instrument built on an unconditional promise to pay a specific sum to another party in a particular future date. The eNote is a short-term debt instrument based on Blockchain technology and can be flexibly sold and transferred to any third party.

Together with its partners Credit Suisse and SFS & Mikron , the startup announced the successful completion of a trial project using eNotesTM as a financing instrument. In a pilot transaction, leveraging the technology built by FinTech FQX, Credit Suisse provided financing to SFS & Mikron using the electronic Promissory Note, or eNoteTM. Corporates like SFS and Mikron use the eNote to radically facilitate their corporate treasury operations while increasing financial steering flexibility.

The Heerbrugg-based SFS is a leading global provider of mechanical fastening systems, assemblies, precision components & logistics solutions, with over10’000 people and achieved an annual turnover of CHF 1.7bn in 2020. From its headquarters in Langenthal, Switzerland

Mikron Group develops, produces and markets highly precise, productive and adaptable automation solutions, machining systems and cutting tools. The company employs more than 1’300 people worldwide and achieved a turnover of more than CHF 250m in 2020.(Press release/RAN)