OrbitalRx
Overview
OrbitalRx is a healthcare technology company specializing in pharmacy automation and drug shortage management solutions. Founded in 2017 by Adam Orsborn and Nate Peaty, OrbitalRx is based in Winston-Salem, North Carolina. The company focuses on developing tools to assist hospital pharmacy teams in managing medication shortages effectively. As of recent reports, OrbitalRx has raised a total of $5.23 million in funding, with notable investments from The Launch Place, Alerion Ventures, and Excelerate Health Ventures.
Recent Developments
- 2025 Updates: OrbitalRx has continued to enhance its platform's capabilities, focusing on improving workflow efficiency and predictive analytics for drug shortages. The integration with IBM's Micromedex has strengthened data access, enabling more accurate forecasting and management of drug supplies.
- 2023 Developments:
- In May 2023, OrbitalRx completed a Series A funding round, raising $1.41 million to expand its research and development efforts.
- The company announced joining the End Drug Shortages Alliance, a coalition focused on addressing drug shortages across the United States.
- 2022 Highlights: The company was recognized as one of the best tech startups in Winston-Salem.
- Strategic Collaborations:
- OrbitalRx partnered with IBM Watson Health to offer a combined solution for hospital pharmacy providers, known as "OrbitalRx and Micromedex," enhancing clinical decision support and drug shortage management.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Winston-Salem, NC, USA |
| Founders | Adam Orsborn, Nate Peaty |
| Revenue | <$5 Million |
| Key Investors | The Launch Place, Alerion Ventures, Excelerate Health Ventures |
| Industry | Healthcare Technology |
| Number of Employees | <25 |
Early History
OrbitalRx was founded in 2017 in response to the increasing challenges faced by hospital pharmacies in managing drug shortages. The company's co-founders, Adam Orsborn and Nate Peaty, both with extensive experience in health system pharmacy leadership, recognized the need for a more efficient and integrated approach to pharmacy management. They developed a platform that unifies disparate data sources into a single interface, streamlining operations for pharmacy teams and improving patient care outcomes.
Company Profile and Achievements
OrbitalRx provides a unique software solution focused on managing medication shortages. The platform was designed by pharmacists for pharmacists and aims to automate pharmacy workflows and integrate drug supply chain data in real time. Key achievements include:
- Launching the "Shortage Manager" solution, which uses advanced algorithms to score and assess drug shortage risks.
- Partnering with IBM Watson Health to expand the capabilities of their platform through access to comprehensive clinical and medication databases.
- Securing multiple rounds of funding to support growth and technological enhancements, including a significant Seed funding round in 2019 of $2.15 million.
Current Operations and Market Position
OrbitalRx is primarily involved in developing healthcare solutions to optimize pharmacy operations within hospitals. The company's platform provides real-time data analytics and insights to hospital pharmacy teams, helping them manage and mitigate the impacts of drug shortages. OrbitalRx's market position is strengthened by its collaborations with tech giants like IBM, and its solutions are utilized by several health systems nationwide. The company's strategic focus on integrating advanced analytics into pharmacy operations provides a competitive advantage in the healthcare technology sector.
Related Topics
- Drug Shortage Management: OrbitalRx plays a crucial role in helping hospitals manage drug shortages by providing integrated solutions that offer real-time inventory management and evidence-based treatment alternatives.
- Healthcare Technology Innovations: As part of its mission to improve pharmacy operations, OrbitalRx is actively involved in the development of new technologies that enhance the efficiency and safety of healthcare services.
Conclusion
OrbitalRx has emerged as a pivotal player in the healthcare technology industry, particularly in the domain of pharmacy management and drug shortage solutions. Its innovative platform, developed specifically for hospital environments, offers pharmacy teams a unified approach to managing complex supply chain challenges. With continued investment in technology and strategic partnerships, OrbitalRx is well-positioned to expand its influence and contribute significantly to the improvement of healthcare delivery systems.