A group of high-profile health and tech firms has launched a venture that's built on the blockchain to make health care more efficient.
Avaneer Health was officially unveiled Wednesday.
The Chicago-based company was born out of the Health Utility Network, a consortium of businesses led by IBM that aims to use the blockchain to help improve health care.
Other companies part of the consortium that are behind Avaneer include Aetna, Anthem, Cleveland Clinic, Health Care Service Corporation, The PNC Financial Services Group and Sentara Healthcare.
Avaneer, now a standalone business, received a "significant investment" from those companies, according to a news release.
Avaneer's aim is to provide the health care industry with better infrastructure to work together across all points of a patient's care. By being built on the blockchain, Avaneer can bring greater transparency and security to the industry, helping to eliminate administrative burdens and provide more privacy to patients as health care firms share data with one another, the company said.
Leading Avaneer is CEO Stuart Hanson, a health care industry veteran who previously was a senior health care industry executive at JPMorgan Chase. Hanson, who officially takes the helm as Avaneer's CEO in August, also held leadership positions at Change Healthcare, Citi and Fifth Third Bank.
Aveneer is debuting at the 2021 HIMSS Global Health Conference, an annual event for the health care industry.
