Enterprise-focused Box Acquires MedXT Medical Cloud Storage Provider
Box, the enterprise-focused cloud storage provider is taking aim at what it terms as “industry verticals” in its goal to grab as much of the commercial cloud storage market as possible. Leave the consumer market to Dropbox and Google Drive, Box is mainly after the big boys now.
One of the areas that Box CEO Aaron Levie recently mentioned that he wished to get into was the area of medical and health care. This has now been accomplished with the acquisition of MedXT which was previously backed by Y Combinator.
MedXT is a medical focused cloud storage provider. Medical scans, plus the technicians case notes are collated and encrypted, then send from the medical imaging device to a local server and then out to the MedXT Amazon Web Services (AWS) HIPAA compliant services over an encrypted connection. It is to be expected that Box will upset the apple cart and change this arrange to their own Box secure servers instead of the ones at Amazon in due course.
Box is focused on how to make healthcare data more transferable. There have historically been huge problems with the multitude of systems and different software packages used throughout the bloated U.S. health care system that is rife with inefficiencies.
The cloud storage company needs to continue to distinguish itself from the competition because cloud storage has largely become a commodity with many companies offers almost identical services, some original and some white label, to consumers and businesses.
Box is intend on providing value added services to specific industries in order to market customized product offerings to niche markets. This avoids trying to be everything to everybody like Dropbox and needing to compete purely on price and storage offered for a given price point. The company is expected to file for an initial public offering shortly.
