DataVault AI and Wellgistics Health disclosed that they have signed a non-binding letter of intent to cooperate on a blockchain-based smart contract framework for prescription medication tracking across the United States. The contemplated system, provisionally named PharmacyChain, intends to digitize the process from prescription issuance through fulfillment, with the objective of ensuring correct and timely delivery of medicines to patients. The parties are evaluating a potential fee-based revenue-sharing model tied to pharmacy adoption.
The announcement arrives at a challenging time for Wellgistics, whose shares have fallen sharply year-to-date. Financial data show that the company generates annual revenue in the mid-thirty-million range but carries a weak liquidity profile and faces structural headwinds. Market commentary has noted that these financial constraints could impede execution even if the collaboration proceeds.
Integration With AI Stack and National Footprint
The initiative would align DataVault’s blockchain infrastructure with Wellgistics’ HubRx AI platform, an artificial intelligence engine recently introduced to automate pharmacy workflows. Wellgistics serves a network of more than 6,500 independent pharmacies, positioning the company to distribute the proposed solution at a national scale if commercial terms are finalized.
Leadership at Wellgistics has publicly conveyed the view that reducing administrative barriers through smart contract automation would expand patient access by lowering delays and cost frictions in the medication supply chain. The companies jointly framed the U.S. prescription drug market as a multi-hundred-billion-dollar opportunity, arguing that digitizing trust and accountability in fulfillment is a logical evolution of regulated pharmacy operations.
Execution Remains Uncertain
Both sides underscored that the letter of intent is preliminary. The prospective rollout of PharmacyChain is contingent on negotiation and signing of definitive agreements, and there is no certainty that the partnership will close, reach market, or generate revenue. Observers highlighted that Wellgistics’ low current ratio suggests liquidity risk that could affect its capacity to fund integration or scaling.
Each company trades on Nasdaq and operates in adjacent layers of the healthcare and data stack. DataVault specializes in AI-driven data monetization and blockchain applications, whereas Wellgistics manages pharmaceutical distribution and digital routing channels for prescription workflows.
Corporate Realignment and Parallel Initiatives at Wellgistics
In parallel to the collaboration news, Wellgistics has been undergoing corporate restructuring. The firm recently reappointed Prashant Patel as President and Interim CEO following a brief departure earlier in the year. It also installed an Interim CFO and added three new board members after a wave of executive and board resignations. In addition, shareholders voted to remove two directors who previously served on governance and oversight committees.
Separately, Wellgistics disclosed a supply distribution arrangement with TheracosBio focused on expanding U.S. access to the diabetes drug Brenzavvy, utilizing the same 6,500-pharmacy network. The company also completed a discounted equity offering of common stock and warrants, with the latter immediately exercisable and set to expire five years after issuance. Market analysts interpreted the pricing as a signal of capital pressure and an attempt to shore up liquidity.
If executed, the proposed PharmacyChain venture would blend blockchain accountability with pharmacy AI and a nationwide distribution footprint. The next phase hinges on formal contracts, financial capacity, and regulatory-aligned implementation in a sector focused on precision, auditability, and timeliness.
