H-Source moves to EY Ops Chain blockchain platform

27 September 2019 Consulting.ca 2 min. read
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H-Source, a Vancouver-based firm which provides a digital procurement platform for hospitals, announced its will be moving to EY’s Ops Chain blockchain platform.

Founded in 2014, public technology company H-Source Holdings provides a secure transaction platform where member medical facilities can buy, sell, track, and transfer medical devices, drugs, and capital equipment. The network aims to reduce healthcare costs and medical product waste while enabling supply chain transformation and efficiency.

The company announced it will be moving its offering to the EY Ops Chain, the consultancy’s premier solution for the industrialization of blockchain technology for enterprises. Initially launched in 2017 and now in its second generation, Ops Chain has been applied in seven use cases across food and beverage, healthcare, and financial services, and in enterprise functions such as supply chain, procurement, and asset management.

H-Source moves to EY Ops Chain blockchain platform

Ops Chain allows companies to put their operation on the blockchain and utilize smart contracts – managing networks of business partners and running shared process across procurement, logistics, invoicing, and accounts. The second generation of the platform supports up to 20 million transactions per day on private networks and offers a library of smart contracts that automate processes.

"The H-Source platform is currently built with robust GS-1, UDI/GTIN and DSCSA 'Track and Trace' capabilities. Combining our platform with the best in class EY Ops Chain will be a significant step forward in our mission to provide new healthcare solutions in the US and globally," said John Kupice, CEO and director of H-Source. "The H-Source vision of supply chain transformation facilitating communication and collaboration to drive efficiencies combines well with the EY focus on making connections a key component of global health.”

Abhishek Sinha, EY Canada blockchain leader, said, "We're excited to support H-Source in enabling the healthcare industry to access the products and tools they need more sustainably. EY Ops Chain helps companies simplify supply chain management and seamlessly integrate everything from digital contracts and shared inventory to logistics information."

The engagement with H-Source will be one of the first commercial implementations of EY’s blockchain platform. In previous engagements, EY worked with wine companies to tokenize more than 11 million bottles of wine through the platform’s asset traceability module, and worked with Merck Animal Health to trace animal vaccines.