VitalHub Makes First Sale of its Mental Health Blockchain Solution

The WellLinc blockchain-as-a-service solution will be able to provide mental health and long-term care facilities access to more secure, distributed client records that assist with the interoperable exchange of client patient health data cross the continuum of care.
VitalHub (TSXV:VHI) announced on Thursday (May 31) that it has officially made the first sale of its WellLinc blockchain electronic health record solution, a service specifically targeted at mental health and long-term care organizations.
According to the release, the solution has been licensed by Bluewater Health and the Canadian Mental Health Association of Lambton-Kent, and will provide organizations access to a more secure, distributed client records that help facilitate the exchange of patient health data cross the continuum of care.
Once the solution becomes fully integrated, the release states that Bluewater Health and the Canadian Mental Health Association of Lambton-Kent will also license WellLinc.
Dan Matlow, CEO of VitalHub, said in the release that WellLinc is allegedly the first interoperable blockchain solution specific to mental health-related issues.
“Our goal is to prove WellLinc’s value using the Bluewater-CMHA LK implementation, and then continue in our efforts to expand the platform globally,” he said.
As it currently stands, the WellLinc platform is available to local health integration networks in Ontario and regional mental health programs across Canada. VitalHub partnered with Ernst & Young LLP in early May to explore an “outcomes-based ROI analysis” the impact WellLinc will have in order to support design decisions for VitalHub before expanding the product into other areas.
VitalHub first introduced the product in February and chose the mental health care industry due to “serious gaps in mental health care delivery that result from inadequate access to available patient health information.”
Matlow said in February that there would be an install base of over 300 organizations that will use its mental health solutions.
“WellLinc will provide our care providers with a longitudinal view of their clients’ record, which includes assessment information about the services they’ve received in the hospital when in crisis. Access to this information will enable us to better plan care in the community to avoid future crisis interventions,” Alan Stevenson, CEO of the Canadian Mental Heaeth Association of Lambton-Kent said in the release.
Data from the Canadian Mental Health Association (CMA) shows that one-in-five people in Canada will suffer from a mental health issue in any given year and that by age 40 roughly 50 percent of the Canadian population will have experienced some form of mental illness.
Eight percent of adults will experience major depression at some point in their lives, while one percent of Canadians will go through bipolar disorder and that one percent of the population will be affected by schizophrenia. Different types of anxiety impact five percent of the population, while suicide accounts for a staggering 24 percent of deaths between 15-24 year-olds, and 16 percent of 25-44 year-olds.
VitalHub is company primarily focused on assisting organizations in the mental health and long-term care space by providing solutions in existing health data systems, specifically through blockchain technology.
Following Thursday’s announcement, shares of VitalHub increased 11.11 percent to close the trading day at C$0.20. According to data from TradingView, the company is currently ranked as a “Strong Buy” based off 26 analyst ratings with one raking as a “Sell,” nine as “Neutral” and 16 ranking the company as a “Buy.”
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1846.53 | 0.00 | |
Silver | 21.75 | 0.00 | |
Copper | 4.30 | +0.02 | |
Palladium | 1968.65 | 0.00 | |
Platinum | 957.67 | 0.00 | |
Oil | 110.35 | -1.86 | |
Heating Oil | 3.62 | -0.05 | |
Natural Gas | 8.06 | -0.25 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.