SMBC, Fujitsu and SoftBank build platform to slash $31b in health costs

They will create new businesses to streamline costs of prescriptions and treatments.

Sumitomo Mitsui Financial Group (SMBC), Fujitsu Limited, and Softbank Corp, are setting up a healthcare platform for sustainable healthcare in Japan.

The companies aim to help curb future healthcare cost increases on the scale of approximately $31.44b (JPY5t).

The alliance agreement will see the three companies build a data platform with a focus on secure and appropriate management and utilization of medical data held within healthcare information systems, and with individual consent, the three companies said in a statement.

They will also develop app-based AI agents that act as personalized health partners tailored to each individual.

The data platform and related apps will be built in Japan-based data centres.

Separately, the companies will also create new businesses to streamline costs caused by duplicate testing and prescriptions, disease aggravation due to interrupted treatment, and the progression of preventable illnesses and frailty.

The platform is expected to contribute to the extension of healthy life expectancy of citizens, optimizing the management of healthcare institutions, and curbing national healthcare costs, the three companies said in a statement.

(US$1 = JPY159.02)