Talyst Investors Add $20 Million Funding Commitment: Leadership in Pharmacy Automation
3 views
Skip to first unread message
Pharmacy Technology Resource, LLC
May 16, 2008, 9:59:17 AM5/16/08
to Pharmacy Software & Technology Resource
AIG Investments, Ignition Partners and OVP Venture Partners Underscore
Support with Additional Investments
BELLEVUE, Wash.--(BUSINESS WIRE)--Talyst today announced that it
received its third round of investment, a $20 million, multiyear
commitment. The investment will enable the pharmacy automation company
to pursue continued growth in the acute-care hospital market and
expand product offerings into new market segments.
The funding comes from prior investors AIG Investments, Ignition
Partners and OVP Venture Partners. Initially, $8.5 million of the
commitment has been funded; the balance is available for the company
to call upon as needed.
“Precise delivery of medications, with the safety and efficiency
improvements that result, is fast becoming the standard of care in
healthcare organizations. Talyst hospital customers have lead this
charge, which has similar potential for all types of healthcare
facilities,” explained Carla Corkern, interim chief executive officer.
“Beyond acute-care, with this funding, we will leverage our software
and hardware solutions into new market segments, including long-term
care and correctional facilities.”
“We are pleased to affirm our commitment to Talyst with this further
round,” noted Elliot Hayes, Managing Director, AIG Investments, which
directed the “A” round of funding in 2005. “In just five years, this
company has gone from being an upstart to market leader, with more
than 300 hospital clients. What Talyst AutoPharm technology did to
bring safety and efficiency advantages to hospitals is being rolled
out with Talyst Insite remote dispensing solution for long-term care
and correctional healthcare environments.”
About AIG Investments
AIG Investments is a global leader in asset management with extensive
capabilities in equity, fixed income, hedge, private equity, and real
estate investments. Member companies of AIG Investments manage more
than US $750 billion in assets and employ more than 2,500
professionals in 46 offices around the world as of March 31, 2008. AIG
Investments is the asset management arm of American International
Group, Inc. (NYSE:AIG).
About Ignition Partners
Ignition Partners (www.ignitionpartners.com) is a premier private
investment group with offices in Bellevue, Wash. and Shanghai, China.
Ignition Partners' affiliated family of funds includes Ignition
Ventures and Ignition Growth Capital in the U.S. and Qiming Ventures
in China. The investment group's three categories of funds - early
stage venture, growth capital and China ventures - brings together an
unparalleled combination of domain focus, functional expertise and
global operational experience, with partners from leadership positions
at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco,
Starbucks and other industry leaders.
About OVP Venture Partners
For more than 24 years, OVP Venture Partners (www.ovp.com) has led the
drive into new, high-growth technology markets in the Pacific
Northwest. OVP’s record of 52 liquidity events – including 22 IPOs –
leads the region. OVP has more than $750 million in capital under
management and is currently investing its seventh fund. The firm
concentrates on opportunities at the intersection of technology’s next
big waves and the foundational strengths native to the region. OVP has
offices in Seattle and Portland, Ore. and focuses on investments in
communications, software, security, semiconductors, digital biology,
and nanotechnology.
About Talyst
Talyst enables the intelligent pharmacy. The company provides
automated systems to hospitals and other centralized pharmacies to
improve accuracy and patient safety, while reducing costs and
increasing productivity. Talyst equipment and its AutoPharm software
are used to package, barcode, store and track drug inventories. The
company has more than 300 hospital and integrated healthcare system
customers.
For more information, see www.talyst.com or call 877-4-Talyst
(877-482-5978).
Inc. magazine named Talyst to the 2007 “Inc. 500” ranking of America’s
fastest-growing private companies, and for three consecutive years,
the company was ranked among the fastest growing companies in
Washington State. It was also honored by Fast Company magazine’s “Fast
50 Reader Favorites” list, honoring innovative, progressive
enterprises.
Talyst, AutoPharm, InSite and Engineering the Intelligent Pharmacy are
trademarks of Talyst Inc. Other trade names are the property of their
respective owners.
Support with Additional Investments
BELLEVUE, Wash.--(BUSINESS WIRE)--Talyst today announced that it
received its third round of investment, a $20 million, multiyear
commitment. The investment will enable the pharmacy automation company
to pursue continued growth in the acute-care hospital market and
expand product offerings into new market segments.
The funding comes from prior investors AIG Investments, Ignition
Partners and OVP Venture Partners. Initially, $8.5 million of the
commitment has been funded; the balance is available for the company
to call upon as needed.
“Precise delivery of medications, with the safety and efficiency
improvements that result, is fast becoming the standard of care in
healthcare organizations. Talyst hospital customers have lead this
charge, which has similar potential for all types of healthcare
facilities,” explained Carla Corkern, interim chief executive officer.
“Beyond acute-care, with this funding, we will leverage our software
and hardware solutions into new market segments, including long-term
care and correctional facilities.”
“We are pleased to affirm our commitment to Talyst with this further
round,” noted Elliot Hayes, Managing Director, AIG Investments, which
directed the “A” round of funding in 2005. “In just five years, this
company has gone from being an upstart to market leader, with more
than 300 hospital clients. What Talyst AutoPharm technology did to
bring safety and efficiency advantages to hospitals is being rolled
out with Talyst Insite remote dispensing solution for long-term care
and correctional healthcare environments.”
About AIG Investments
AIG Investments is a global leader in asset management with extensive
capabilities in equity, fixed income, hedge, private equity, and real
estate investments. Member companies of AIG Investments manage more
than US $750 billion in assets and employ more than 2,500
professionals in 46 offices around the world as of March 31, 2008. AIG
Investments is the asset management arm of American International
Group, Inc. (NYSE:AIG).
About Ignition Partners
Ignition Partners (www.ignitionpartners.com) is a premier private
investment group with offices in Bellevue, Wash. and Shanghai, China.
Ignition Partners' affiliated family of funds includes Ignition
Ventures and Ignition Growth Capital in the U.S. and Qiming Ventures
in China. The investment group's three categories of funds - early
stage venture, growth capital and China ventures - brings together an
unparalleled combination of domain focus, functional expertise and
global operational experience, with partners from leadership positions
at Microsoft, McCaw Cellular Communications, AT&T Wireless, Cisco,
Starbucks and other industry leaders.
About OVP Venture Partners
For more than 24 years, OVP Venture Partners (www.ovp.com) has led the
drive into new, high-growth technology markets in the Pacific
Northwest. OVP’s record of 52 liquidity events – including 22 IPOs –
leads the region. OVP has more than $750 million in capital under
management and is currently investing its seventh fund. The firm
concentrates on opportunities at the intersection of technology’s next
big waves and the foundational strengths native to the region. OVP has
offices in Seattle and Portland, Ore. and focuses on investments in
communications, software, security, semiconductors, digital biology,
and nanotechnology.
About Talyst
Talyst enables the intelligent pharmacy. The company provides
automated systems to hospitals and other centralized pharmacies to
improve accuracy and patient safety, while reducing costs and
increasing productivity. Talyst equipment and its AutoPharm software
are used to package, barcode, store and track drug inventories. The
company has more than 300 hospital and integrated healthcare system
customers.
For more information, see www.talyst.com or call 877-4-Talyst
(877-482-5978).
Inc. magazine named Talyst to the 2007 “Inc. 500” ranking of America’s
fastest-growing private companies, and for three consecutive years,
the company was ranked among the fastest growing companies in
Washington State. It was also honored by Fast Company magazine’s “Fast
50 Reader Favorites” list, honoring innovative, progressive
enterprises.
Talyst, AutoPharm, InSite and Engineering the Intelligent Pharmacy are
trademarks of Talyst Inc. Other trade names are the property of their
respective owners.
Reply all
Reply to author
Forward
0 new messages