Patientory Inc., a healthcare blockchain company, has formed a partnership with Wharton Impact Venture Associates (WIVA), a group of students from the Wharton School, in a capital raise agreement. This collaboration aims to address the challenges surrounding data accessibility in the healthcare industry by advancing the development of Patientory’s innovative platform. Through their partnership, Patientory and WIVA aim to revolutionize healthcare data management and improve patient care.
Started at Wharton University, WIVA is an impact investing educational program that focuses on identifying and supporting companies with tremendous potential in the Environmental Social Governance (ESG) sectors. The program equips students with the skills and knowledge necessary to make impactful investments in early-stage companies. Through mentorship, training, and networking opportunities, WIVA helps students connect with entrepreneurs and potential investors, enabling them to contribute to the growth and success of promising startups.
The partnership between Patientory Inc. and WIVA began on WeFunder, a crowdfunding platform that allows non-accredited investors to support early-stage companies with limited capital. Patientory Inc. has already raised over $50,000 on WeFunder, with WIVA making its investments exclusively on the platform. The platform offers investors a Simple Agreement for Future Equity (SAFE) after making a small investment in an early-stage company. This agreement grants them the right to obtain equity in the company at a future date if it sells shares in a future financing round.
One of the main challenges in the healthcare industry is the fragmentation of patient data. Hospitals and clinicians store data in isolated systems, making it difficult for healthcare providers to access and share vital patient information efficiently. According to UPMC Enterprises, over 80% of healthcare data is unstructured and not readily available, hindering the delivery of quality and efficient patient care. Patientory Inc. aims to address this issue through its blockchain-based platform.
Patientory’s platform utilizes blockchain technology to provide users with a secure Consumer Wallet, enabling patients to store, share, and even monetize their health data securely. The platform also includes the Neith Enterprise Dashboard, an analytics portal that allows healthcare stakeholders to extract valuable insights from shared and de-identified consumer health data on the Patientory blockchain network. Additionally, the platform employs AI recommendations to help users improve their health habits and find effective clinical trials and cost-effective medicine.
With over 45,000 subscribers and a revenue of over $4 million, Patientory Inc. has already made significant strides in the healthcare data industry. However, the company’s partnership with WIVA and their collaboration with WeFunder will undoubtedly accelerate their progress and enhance their ability to create positive change. By raising additional capital, Patientory Inc. will have the resources to further develop and expand its platform, ultimately improving healthcare data accessibility and revolutionizing patient care on a global scale.
The partnership between Patientory Inc. and Wharton Impact Venture Associates represents a significant step forward in addressing the challenges surrounding healthcare data accessibility. By leveraging blockchain technology, Patientory aims to eliminate the fragmented storage of patient data and empower individuals with greater control over their health information. With the support of WIVA and the investments made through WeFunder, Patientory Inc. is well-positioned to create a lasting impact in the healthcare industry, and ultimately improve the lives of patients worldwide.
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