As crypto-focused capital continues to gravitate strongly towards the medical sector, holding company, Millennium Blockchain (OTC:MBLC) on Wednesday outlined plans to sink USD 5 million into healthcare blockchain data platform BurstIQ, as its first major investment.
According to a press release, US-based Millennium, will acquire USD 2.5 million of Series A Preferred Shares in BurstIQ, as well as taking USD 2.5 million worth of /BIQ tokens, at a discount to the price in BurstIQ’s upcoming ERC20 token offering.
BurstIQ’s blockchain-based, proprietary data platform is HIPAA-compliant (Health Insurance Portability and Accountability Act), and the company believes it sets the standard for protecting sensitive patient data for clients, from major healthcare institutions and data partners to government agencies and nations. The platform includes a benefits marketplace, where individuals and self-insured employers can access insurance products and precision medicine services, available to all BIQ token holders.
“We are thrilled to partner with Millennium Blockchain. They truly understand best practice use cases of blockchain and particularly how the BurstIQ platform solves scalable challenges within the healthcare space,” said Frank Ricotta, CEO of BurstIQ, in a statement. “They also share our vision of improving the healthcare industry with a person-centric approach. Their investment should help us accelerate our core development and expand into new market sectors.”
BurstIQ completed a blockchain data integration project for Utah-based Intermountain Healthcare with strategic partner Empiric Health, according to the statement, producing over USD 90 million in operational efficiency savings. This has enabled Empiric to manage data and perform analytics for major healthcare systems,
“With the launch of their BIQ digital token, BurstIQ is adding a whole new layer of value to their current platform that truly places BurstIQ in its own class,” stated Enzo Villani, Chairman of Millennium Blockchain.
For more information on Millenium Blockchain: https://www.mblockchain.io
For more on BurstIQ visit: https://www.burstiq.com