Online pharmacy Tower Health and MediConnect to develop a proof-of-concept blockchain solution to trace medication prescribed to Tower Health’s active userbase of 100,000 people
(Nottingham, United Kingdom –9 April 2019): MediConnect (the “Company”), the blockchain solution for tracing and sharing data across the medication supply chain, is pleased to announce that the online pharmacy Tower Health has signed up to develop a proof-of-concept (“POC”) to integrate MediConnect’s solution to trace products through its supply chain and prevent the misuse of prescription drugs.
Established in 1999, Tower Health is a fast-growing, independent health provider offering both alternative solutions as well as NHS and private prescriptions online and by direct mail. Tower Health provides 10,000 orders a month to its customers and has an active userbase of 100,000 people, making it an excellent company for MediConnect to pilot its blockchain solution.
The MediConnect platform is expected to be seamlessly integrated into Tower Health’s current processes as Tower Health road-tests the solution during the pilot period starting in June. Initially, only a carefully screened portfolio of prescription drugs will be transacted, with the view to include all drugs available in the British National Formulary (BNF) once the POC has been completed.
Tower Health has been involved with MediConnect since its inception. Along with online pharmacy UK Meds, Tower Health approached The Medicines and Healthcare products Regulatory Agency (MHRA) in 2017 with a proposal to create a single shared source to identify potential over-prescription of medicine. Dissatisfied with the slow process, Tower Health and UK Meds decided to explore their own solution to the problem resulting in the formation of MediConnect.
MediConnect’s collaboration with Tower Health is another step forward as it develops and rolls out its blockchain solution. The Company recently announced that Patrick Curry OBE, CEO of the British Business Federation Authority (BBFA), joined as an adviser to the Board, bringing with him extensive experience of deploying technological solutions to build secure collaboration between governments, industry bodies and private companies.
Additionally, MediConnect has launched its own MEDI Token to handle transactions and transfer value on its platform. Once the MEDI Token is available to transact with Tower Health, users will have the option to pay with the MEDI Token at discounted rates.
Dexter Blackstock, CEO of MediConnect, commented: “We are extremely pleased that Tower Health has agreed to develop a proof-of-concept for our blockchain solution. Tower Health is a growing online pharmacy with a great userbase to springboard our platform and make a real-world improvement to the safety of their patients. It also shows that there is a great willingness on the part of pharmacies to establish drug provenance and traceability throughout the medication supply chain. We hope that this will be the beginning of many more collaborations.”
Jason Timms, Owner of Tower Health and Adviser to MediConnect, added: “Tower Health believes it is important to reduce the availability and frequency of obtaining prescriptions from online and offline pharmacies and prescribers which is why we have partnered with MediConnect. One of our priorities is duty of care for our patients and we believe that by tracking medicines and drugs, we can prevent the misuse and overprescribing of prescription drugs. It is clear to us that MediConnect’s solution needs to be adopted by all pharmacies and we are proud to be one of the first to do so.”