Talyst is celebrating its 10th year in business with $10 million in new funding. ORIX Ventures today announced that it has pumped $10 million into the company, which automates the way drugs are dispenses at hospital pharmacies. The money will help expand the technology, which ensures greater inventory control and efficiency, into the long-term care and correctional markets.
“We believe this funding from ORIX Ventures validates the market leadership and growth potential of Talyst,” said CEO Carla Corkern. “Having a strong partner, such as ORIX Ventures, which can support the financial needs of Talyst throughout our expansion gives us a competitive edge by enabling us to respond quickly to marketplace opportunities.”
The Talyst technology is now installed in more than 600 hospitals and health care facilities. The company, which has raised more than $50 million to date, is backed by OVP Venture Partners, Ignition Partners and others.