ORIX Ventures announces the closing of a $10 million growth capital commitment to Talyst. The funding is structured to provide immediate growth capital to the company. Initial proceeds will be used to support Talyst’s expansion into the long-term care and correctional markets, as well as its plans to achieve greater penetration in acute-care market.
Located in Seattle, Washington, Talyst is a leader in pharmacy automation providing enterprise-wide medication management across entire health systems. Their solutions offer greater inventory control, enhanced workflow efficiency and improved patient safety. Talyst was founded in 2002 to provide easy-to-use, automated medication management systems to acute-care hospital pharmacies.
The funding of Talyst underscores ORIX Ventures’ intent to forge partnerships with fast-growing, later stage companies, as well as its particular interest in health care companies.
“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.”
David Orlandella, a Principal at ORIX Ventures commented, “We are pleased to partner with Talyst’s management team which has demonstrated an impressive ability to strategically scale the company and build a leading technology company in the pharmacy automation space.”