8KMiles Software Services, announced today the Company is launching 8K Health Edge (www.8khealthedge.com) a proprietary Blockchain platform which, may translate into solutions for some of the most complex problems in global healthcare. According to a June 2017 report from The Economic Intelligence Unit, World Industry Outlook, Healthcare and Pharmaceuticals, the combined healthcare spending in the world's major regions is expected to reach USD 8.7 trillion by 2020, up from USD 7 trillion in 2015. As the world's healthcare needs not only continue to grow and become more complex, technology such as Blockchain is under-utilized.

Suresh Venkatachari, Chief Executive Officer of 8KMiles, said, ''With the launch of 8KMiles Health Edge our team intends to unleash the power of Blockchain.  Blockchain allows organization of any chain of records or transactions without the need of intermediaries, and reducing the number of intermediaries in healthcare delivery, which will subsequently reduce costs and allow for real time solutions. Ability to establish trust-based network between entities and inherent security that comes with it, makes Blockchain ideal for Health Information Management.'' 

Venkatachari added, ''Artificial Intelligence/Machine Learning, Big data and better analytics are all part of improving how healthcare is delivered around the world when coupled with Blockchain-based infrastructure, can revolutionize the world of personalized Care, Medicine and Medical Research. While every national healthcare system is different, technology can provide cross-border solutions. Our partnerships with Amazon Web Services (AWS), Microsoft, Google and Oracle uniquely position 8KMiles to develop a secure Cloud Blockchain that is fully HIPAA compliant and HITRUST certified. Developed, emerging and least developed countries cannot continue to increase their healthcare budgets without seeing real time results and qualified and quantified outcomes. 8KMiles is ready to lead the charge and unleash the power of Blockchain to decentralize healthcare bottlenecks yet centralize patients' health information to overcome the transparency issues that face many of the world’s healthcare systems.''

Shares of the company gained Rs 63.65, or 8.08%, to trade at Rs 851.05. The total volume of shares traded was 81,809 at the BSE (10.05 a.m., Friday).