The strategic partnership will accelerate the joint development of blockchain-based applications for patients and pharmacies, and further Embleema’s commercial deployment across Pharmagest’s extensive network of over 10,000 pharmacies in Europe. The partnership will also enable Pharmagest to scale the adoption of its services among patients that are already digitizing their prescription data through its current pharmacy client network.
In July 2018, Embleema launched PatientTruth in the US, the first blockchain-based personal health record system, which lets patients assemble their health history from dispersed health records, enabling full control over their healthcare data sharing. Patients receive tokens in exchange for their active participation in clinical research. Embleema was the first company to offer practical means for patients to own their digital health assets, providing both control and monetization without third party data brokers.
Blockchain allows patients to own their data on a decentralized marketplace, as all transactions are registered on distributed ledgers, removing the need for a third party to authenticate movements. Patients have access to the full audit trail of their healthcare data and receive automated payments through smart contracts.
The strategic partnership with Pharmagest will enable Embleema to accelerate the development of its decentralized health data marketplace, a service for patients to connect with researchers to share and collect relevant health data, and accelerate drug development. Pharmagest will be a leading partner in Europe, offering patients within its network an opportunity to opt in to research.
Thierry Chapusot, CEO of Pharmagest said:
“We believe in the enormous potential of blockchain technology in the healthcare sector which is destined to become a key technology for protecting data and ensuring transparency for the patient. The system developed by Embleema is at the forefront of decentralizing and sharing data to better monitor the efficacy and safety of drugs. With a world-class team, Embleema has already demonstrated its potential with a solution which works and generated interest by key partners in the pharmaceutical industry as a means to shorten time to market for innovative drugs. We are very excited about the opportunity to participate in its deployment and eager to create complementary synergies with our Group.”
Robert Chu, CEO of Embleema added:
“We are delighted by this strategic partnership with Pharmagest Group which will enable us to integrate our blockchain technology within the different solutions already developed by a Group that has been at the cutting edge of innovation in Europe for the last 25 years. Pharmagest’s addition to our shareholder base will give us the financial resources needed for the rapid deployment of these technologies for patients through pharmacies or medical establishments equipped by Pharmagest. Through the deployment of this blockchain technology on a large scale basis for the benefit of patients, not only in the United-States, but now also in Europe.”