RFXCEL, PART OF ANTARES VISION GROUP, AND MVC LAUNCH THE TRACEABILITY HUB FOR THE KINGDOM OF BAHRAIN TO TRACK END-TO-END PHARMA SUPPLY CHAIN
Travagliato (Brescia), 3 June 2021 – Antares Vision Group, the international leader in the pharmaceutical sector for track & trace hardware and software solutions (anti-counterfeiting and supply chain transparency), with an established presence in inspection systems (quality control), and active in smart data management (production efficiency and end-to-end supply chain digitalization, from raw materials to the final consumer), announced today that its subsidiary rfXcel has successfully implemented an end-to-end traceability hub to monitor and secure the Kingdom of Bahrain’s global pharmaceutical supply chain process. The initial value of this contract is around 4- 6% of Antares Vision FY 2020 pro-forma revenues.
Bahrain’s National Health Regulatory Authority (NHRA) and Supreme Council of Health selected Medical Value Chain, “MVC” and its partner rfXcel to provide the first GS1-compliant system to track its entire pharmaceutical supply chain on a blockchain platform. The end-to-end traceability hub delivers complete visibility into every node of Kingdom’s supply chain, from the manufacturer of origin, importers, wholesalers, and distributors to pharmacies, clinics, and hospitals - all the way to individual patients.
The objective of the NHRA Bahrain Traceability Hub is to achieve following:
- End-to-end traceability for all medicine imports to Bahrain
- Bahrain pharma supply chain to meet the global track & trace requirements and GS1 Standards
- Complete visibility and repository of medicine inventory & supply-chain info from manufacturers to agents/importers to wholesalers/distributors to pharmacies/hospitals and to patients/consumers
- Increase patient safety
- Detect and stop counterfeit medicines
- Analytics of medicine imports and consumptions in Bahrain
- Manage product recalls and shortages efficiently and timely
Glenn Abood, rfXcel CEO, said: “The end-to-end traceability hub offers an array of other benefits for all pharmaceutical supply chain stakeholders. The hub is the first of its kind in the Gulf Cooperation Council. It creates a single source of truth for all medications, which means improved patient safety, better flow of information, and more accurate inventory management. It is also a powerful tool to prevent counterfeit and substandard drugs from reaching the market”.
Emidio Zorzella, Antares Vision Group CEO, said: “I am honoured that the Kingdom of Bahrain chose Antares Vision Group in partnership with MVC to secure and optimize its pharma supply chain. In the near future, we expect to announce national traceability hubs in other countries to track pharmaceutical, agricultural and consumer products”
MVC President Leo Giacometto said, “When we set up our company to provide a blockchain-enabled track and trace platform to provide customs clearances and supply chain financing, we needed the absolute best Track and Trace solution and most experienced team in the market; that is rfXcel, now part of Antares Vision Group!”