Decentralized healthcare blockchain platform MintHealth announced on Thursday a tokenized equity offering to raise up to USD 24 million with its /MHST security token, alongside the appointment of healthcare executive and entrepreneur, Tyson McDowell as Chief Technology Officer.
MintHealth recently announced its funding strategy would involve issuing both a security and a utility token, with the /MHST token coming alongside its Vidamint /VIDA utility reward. Vidamint or /VIDA tokens will be used to provide revenue for the users of the MintHealth platform and engage them with personalized activities to improve healthcare and lower insurance costs, stated the company. /MHST tokens will entitle holders to revenue from the sale of /VIDA and equity ownership in MintHealth.
“We are working toward securing financing to propel MintHealth into the next phase of growth, said Samir Damani, CEO and co-founder of MintHealth, in a statement. “We are seeing strong early interest from investors based on the significant progress that has been made on bolstering the leadership and advisory teams, as well as lining up initial pilot partners. The interest in our platform-as-a-service model is a testament to the large unmet need in healthcare around decentralized solutions for moving health data combined with token incentives to drive meaningful behavior change and improved clinical outcomes at lower costs.”
According to a statement from the company, the Regulation D fundraising is open only to international and accredited US investors.
Commenting on the appointment of Tyson McDowell as Chief Technology Officer, Damani said: “Tyson’s combination of technical expertise, leadership experience, and an entrepreneurial approach make him a strong addition to our executive team. His previous work in optimizing processes within the US healthcare system and working with every stakeholder in the value chain will be invaluable to MintHealth.”
McDowell has a background in healthcare IT, enterprise-class, web-based systems and consumer engagement technologies, according to the statement. He will be responsible for driving all aspects of MintHealth’s technology vision and product development.