TCS Partners with UN-hosted Health Innovation Exchange to Develop Digital Solutions to Improve Access to Healthcare
The Health Innovation Exchange and Tata Consultancy Services Will Leverage Their Expertise in Technology and Innovation to Tackle Perennial Issues Across the Global Healthcare Ecosystem Today
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), is working with Health Innovation Exchange (HIEx), to deliver two digital solutions aimed at addressing the current challenges faced by global health ecosystems and pave the way towards a sustainable future.
HIEx is a UN-hosted partnership that brings together policymakers, innovators and investors to leverage innovation and technology to reach health-related Sustainable Development Goal (SDG) targets. As part of the partnership, HIEx and TCS Digital Garage, an innovation unit of TCS, will jointly develop a platform called SPINE – Specialised and Proficient Integrated Network of Experts.
The platform will leverage technologies such as IoT, artificial intelligence and analytics to connect people in need of healthcare solutions and services to a network of primary, secondary, and tertiary health experts and providers. It will help tackle the twin problems of inaccessibility and inequality facing the global healthcare ecosystem and deliver improved health outcomes for all.
The second part of the collaboration will see the forming of a healthcare financing platform called TCS HIEx tokenization platform for SDGs, which leverages blockchain technology to allow investors, including retail ones, to invest easily in promising healthcare start-ups from anywhere in the world, by purchasing unique HIEx SDG3 tokens. Tokenization of equity allows for the easy and affordable creation, issuance, and transfer of digital tokens, thereby democratizing the fundraising process.This platform is expected to help health start-ups easily receive the funds raised and channel the money towards more innovation and market-ready solutions.
“We are confident that this partnership with HIEx will be a key step towards creating an equitable world where everyone has access to high-quality and affordable healthcare services,” said Girish Ramachandran, President, TCS Asia Pacific. “In keeping with our purpose-driven approach, TCS Digital Garage will utilize our expertise and collective knowledge to ideate and bring to market digital ecosystems and innovations that can help organizations solve real-world problems.”
Pradeep Kakkattil, Director, UNAIDS Office of Innovation, added: “The collaboration with TCS is an important, strategic imperative that will go a long way towards resolving the humanitarian, environmental and societal challenges the world faces during these uncertain times. We look forward to working closely with TCS to implement the two digital solutions in the near future.”
About Health Innovation Exchange (HIEx)
The UNAIDS Health Innovation Exchange (HIEx) is a UN-initiated partnership platform bringing together policymakers, innovators and investors to leverage health innovations and investment to save and improve lives around the world. HIEx fosters public-private partnerships that can help scale proven technologies and innovations to maximize reach and health impact, especially for the most vulnerable communities.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com