NORTH READING, Massachusetts, Nov. 21, 2019 /PRNewswire/ -- TraceLink Inc., a network-based platform company with the world's largest integrated digital supply network, today announced financial and company results for the third quarter of 2019.
Financial growth highlights for Q3 2019 include:
A 59 percent increase in new year-to-date bookings in the U.S.;
A 37 percent increase in year-to-date revenue, including growth in the following regions:
52 percent revenue growth in EMEA;
73 percent revenue growth in APAC; and,
66 percent revenue growth in India.
A two-year revenue compound annual growth rate (CAGR) of 54 percent;
More than 1,250 customers by the end of Q3 across 50 countries:
64 percent representing pharmaceutical and contract manufacturers;
6 percent representing wholesale distributors, 3PLs and repackagers; and,
30 percent representing pharmacies, hospitals, clinics and health systems.
Over 570 employees worldwide at the end of Q3.
"This quarter, TraceLink continued to help customers around the globe meet critical regulatory requirements, resulting in strong growth in several markets. Beyond that, we also collaborated with companies across the supply chain to help them understand the value that can be realized from their serialization investments by leveraging the power of the TraceLink network," said Shabbir Dahod, president and CEO, TraceLink. "This is a very exciting time for TraceLink and the industry, as we continue to drive transformation with the announcement of the Digital Network Platform which will be a game-changer, breaking down existing barriers and providing hundreds of thousands of innovators within the industry with the power and insights to dramatically improve patient health."
Recent Company growth highlights and milestones include:
Announcing TraceLink's Digital Network Platform – built on top of the TraceLink Digital Supply Network, the platform is designed for the rapid development of applications utilizing its multi-enterprise collaboration and data sharing capabilities, further transforming the global pharmaceutical supply chain.
Demonstrating growth in serial numbers commissioned on the TraceLink network–totaling 6 billion serial numbers commissioned to date, demonstrating unparalleled network scalability.
Experiencing immense growth on TraceLink's Digital Network– with over 10,700 connections allowing network members to seamlessly exchange data.
Leading the market with the industry's most serialization-ready customers–with more than 700 companies on the TraceLink network that are live with serialization.
Hosting FutureLink Nashville – the only global drug supply chain industry event of its kind, with more than 260 attendees from companies across the life sciences industry.
Showcasing industry innovation through TraceLink's pilot with Merck KGaA Healthcare – leveraging the TraceLink Digital Network Platform to improve supply-and-demand forecasting and reduce shortages of critical immune-oncology drugs.
Expanding its presence in Russia – partnering with Excellis Health Solutions to provide local implementations services for TraceLink's Russia compliance solution, helping pharmaceutical companies comply with complex track and trace requirements.
Facilitating industry collaboration with TraceLink's Customer Community – with 5,645 members representing more than 1,350 companies across 25 countries, the Community provides a platform for networking, innovation and education that is shaping the future of an integrated digital supply network.
About TraceLink TraceLink is a network-based platform company that leverages its digital supply network and digital network platform to bend the supply chain around the patient. Through its industry-leading digital supply network, the TraceLink Digital Network Platform can enable seamless data sharing and process orchestration across the entire healthcare industry, enabling the creation of a real-time, patient-driven supply network. Leading life science companies, hospitals and retail pharmacies trust TraceLink to deliver complete global connectivity, visibility and traceability of pharmaceuticals, ensuring that every patient gets the medicines they need, when they need them, safely and securely. For more information on TraceLink and our solutions, visit www.tracelink.com.