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February 15, 2017

Genmed, CCube Solutions collaborate to introduce new funding model within NHS

UK-based Genmed has collaborated with CCube Solutions to provide a new type of funding model to help address the lack of additional capital available within the National Health Service (NHS) to support projects such as electronic document management system (EDMS) and scanning.

UK-based Genmed has collaborated with CCube Solutions to provide a new type of funding model to help address the lack of additional capital available within the National Health Service (NHS) to support projects such as electronic document management system (EDMS) and scanning.

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The managed service is expected to enable the NHS Trusts and Health Boards to fund the transformation from paper to digital medical records.

The service will include CCube’s electronic document management software, project  management, IT hardware, support, maintenance and the legacy records back scanning.

"All Trusts and Health Boards know they need to get rid of paper and transition quickly to digital delivery."

Genmed chief executive officer Robin Modak said: "The huge upfront capital costs of software systems and back scanning make it very difficult for Trusts and Health Boards to introduce the new services they have been instructed to by the Department of Health.

"Our managed service model provides a practical, straightforward revenue based way to solve the paper problem as it spreads the costs out and means it’s treated as an operational not a capital expenditure.”

The Genmed managed service is claimed to be HMRC compliant for VAT recovery and off balance sheet, which makes it suitable for trusts and health boards with no CRL2 headroom.

CCube Solutions managing director Vijay Magon said: "All Trusts and Health Boards know they need to get rid of paper and transition quickly to digital delivery.

"With Genmed , we’ll be targeting those who have yet to do so by providing an efficient and risk free way to not only buy our software, but all the associated components required to close costly medical libraries.”

Genmed helps NHS organisations to increase their efficiencies and streamline their practices by removing the administration overhead and burden of managing suppliers, dealing with orders and invoices, in addition to contract and administrative management.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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  • Consumer context
  • Industry environment
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  • Route to market
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