NORTH READING, Mass., Aug. 8, 2017 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting
the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced financial and company results for the second quarter of 2017.
Growth highlights for the second quarter of 2017 include:
- A 82 percent year-over-year increase in Q2 revenue, including revenue increases of over 200 percent in both the EMEA and India regions, respectively;
- A 78 percent year-over-year increase in Q2 new sales bookings, hitting a company record of the highest new sales bookings achieved within a quarter, with over 50 percent of Q2 new bookings coming from the EMEA region;
- A two-year revenue compound annual growth rate (CAGR) of 72 percent; and
- A 71 percent increase in customer growth year-over year with 58 new customers added during the second quarter, for a total of more than 650 TraceLink customers, spanning all segments within the global pharmaceutical supply chain across the U.S., EMEA, India and APAC regions, including:
- 42 percent representing pharmaceutical and contract manufacturers;
- 7 percent representing wholesale distributors; and
- 51 percent representing pharmacies, hospitals and health systems, covering more than 4,200 U.S. dispensing locations.
"I am extremely proud of our global team for achieving our highest new quarterly sales bookings ever, hitting an all-time record for the company," said Shabbir Dahod, president and CEO, TraceLink. "Since track and trace regulatory deadlines were enacted, TraceLink has experienced explosive year-over-year growth, validating the industry's need for a proven, scalable network to meet their serialization needs. As the industry integrates serialization into day-to-day operations, the TraceLink network is the only solution capable of providing critical value-add services that leverage the sharing of real-time information for business insights that will improve patient outcomes."
Additional Q2 2017 growth highlights and milestones include:
- Becoming the first solution provider to achieve 100 pharmaceutical and contract manufacturers live and ready for serialization – exchanging serialized data through 176 connections on the TraceLink Life Sciences Cloud.
- Unveiling the first EU Compliance and Digital Information Platform for European pharmacies - enabling any EU pharmacy to easily comply with the FMD while accessing a real-time dashboard for business insights and information sharing with pharmaceutical companies.
- Releasing Automated Validation Manager, the first web-based solution to automate the entire validation lifecycle - eliminating manual, paper-based validation procedures for TraceLink customers and ensuring that their current instance of the Life Sciences Cloud continuously meets GxP compliance requirements in accordance with industry standards.
- Removing the burden of DSCSA-related tasks for hospitals and pharmacies with new end-to-end administration services – leveraging TraceLink staff to shoulder the full workload associated with compliance-related tasks for all TraceLink hospital and pharmacy customers located throughout 4,000 dispensing locations across the U.S., for no additional charge.
- Executing the largest annual NEXUS 17 in Barcelona with over 200 attendees - drawing pharmaceutical supply chain professionals and business leaders from 21 different countries with educational keynotes, break-out and roundtable discussions from 30 speakers.
- Expanding the industry's only community for serialization stakeholders across the supply chain – adding 443 new members to the TraceLink Cloud Community during the second quarter, totaling nearly 3,000 Cloud Community members that are able to interact with their peers from across the global supply chain.
- Expanding into a new EU headquarters to accommodate projected 204 percent employee growth in EMEA - hiring 55 new EU-based employees in sales, services, marketing and administration during 2017 and adding localized support, services and educational content for its customers across 24 countries.
- Processing a total of 262 million Transaction History (TH) files for DSCSA lot-level compliance - a 162 percent increase from the total number of TH files processed by the end of Q2 2016.
- Hitting the highest volume of serial numbers with 22.7 million serial numbers commissioned in one month - for a cumulative total of over 356 million serial numbers commissioned to date.
- Processing global compliance reports for millions of products in the EU, India and South Korea – Including EU compliance reports for 667,000 units of product into the EU Hub, nearly 18 months ahead of the EU FMD deadline, and processing over 27,000 compliance documents for 66 million units of product in India and South Korea.
About TraceLinkTraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including Deloitte's Technology Fast 500 (ranked number 149 in 2016), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.
TraceLink is funded by Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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