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 the 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 the 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!”
ABOUT ANTARES VISION GROUP
Listed since April 2019 on the Italian Stock Exchange in the AIM Market, and from 14 May 2021 on Mercato Telematico Azionario (MTA) STAR segment, the Antares Vision Group guarantees protection of products, people and brands through inspection systems for quality control, Track & Trace solutions for anti-counterfeiting and supply chain transparency, smart data management tools for maximized efficiency and digitalization of the supply chain, from raw materials to the final consumer. The Antares Vision Group is active in the pharmaceutical market and in Life Science in general (biomedical devices and hospitals), in beverage, food, cosmetic and in consumer-packaged goods. The Group reaches over 60 countries in the world with complete and flexible solutions, hardware, and software, with related services and counts 7 production facilities in Italy (Brescia, Parma, Piacenza, Latina, Padua and Vicenza), 22 foreign subsidiaries (Germany , France , USA , Brazil , United Kingdom , India, Russia , Hong Kong, China, Ireland, Croatia and Serbia), 3 Innovation and Research Centers (Italy) and a worldwide network of more than 40 partners. Thanks to the twenty years of experience in vision technologies of the two founding partners, the Antares Vision Group is the supplier of 10 out of 20 leading pharmaceutical companies in the world, with more than 25.000 inspection systems, that ensure everyday product safety and quality, 6.500 quality controls and more than 3.500 serialization modules on lines installed all over the. With the aim of continuing and supporting the growth and development strategy, during 2019 participation agreements were finalized with T2 Software, a Brazilian company specialized in smart data management solutions, and Orobix, an Italian company leader in artificial intelligence services, as well as the acquisition of 100% of FT System, the leader in control and inspection in the beverage sector. In 2020, Antares Vision acquired 82.83% of Tradeticity, a Croatian company specialized in software management of traceability and serialization processes, 100% of Convel, an Italian company specialized in automated inspection machines for the pharmaceutical industry, the assets of Adents High Tech International, a French company specialized in software for serialization and traceability, 100% of Applied Vision, a global leader in inspection systems for glass and metal containers in food & beverage. In March 2021, Antares Vision acquired 100% of rfXcel Corporation, specialized in software solutions for digitalization and supply chain transparency based in the U.S., and 100% of Pen-Tec and Tecnel, through FT System, increasing specialization in Food & Beverage inspection sector. In 2019 Emidio Zorzella and Massimo Bonardi won the Ernst & Young “Entrepreneur of the Year” award for innovation.
For further information
Antares Vision S.p.A.
Via del Ferro, n. 16
25039 – Travagliato (BS)
Alessandro Baj Badino (Investor Relator)
Tel.: +39 030 72 83 500
IR Top Consulting
Via Bigli, n. 19
20121 – Milano
Tel.: +39 02 45473884
Maria Antonietta Pireddu