8K Miles gains on launch of Blockchain Platform - 8K Health Edge

The stock surged 10% to Rs 867 on BSE in intra-day trade.

8K Miles Software Services has surged 10% to Rs 867 on BSE in intra-day trade in otherwise subdued session after the company announced that it is launching 8K Health Edge, a proprietary Blockchain platform which, may translate into solutions for some of the most complex problems in global healthcare.

“With the launch of 8K Miles 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”, said Suresh Venkatachari, Chief Executive Officer of 8K Miles.

While announcing December quarter results on Wednesday, the company said 8K Miles was selected by a US based healthcare provider to assist with the selection of a remote hosted hospital information system solution which has a potential to support multiple hospitals in the future.

The company signed additional EHR implementation project with an US hospital and US Healthcare provider selected 8K Miles to lead the development of their Epic Connect program.

At 10:17 AM; the stock was trading 7.5% higher at Rs 847 on BSE, as compared to 0.26% rise in the S&P BSE Sensex. The trading volumes on the counter almost doubled with a combined 907,988 shares changed hands on the BSE and NSE so far.