TraceLink Q3 Momentum Soars with Robust Customer Growth and Industry Recognition of Product Innovation

2023-11-10

BOSTON, Nov. 9, 2023 /PRNewswire/ -- TraceLink Inc., the leading digital network platform company enabling end-to-end product orchestration by connecting more than 290,000 healthcare and life sciences entities through its B2N Integrate-Once™ network, today announces its continued success during Q3 2023.

Highlights of the Quarter:

In Q3, TraceLink's relentless pursuit of innovation fueled continued growth and exceeded the needs of customers.

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Product Innovations: Introduction of Supply Chain Work Management for Compliance Exceptions, enabling seamless resolution of supply chain exceptions and ensuring adherence to regulations such as the Drug Supply Chain Security Act.

Customer Milestones: Surpassed 1,500 customers globally across 53 different countries, including more than 20 new customers for non-regulatory solution offerings, including TraceLink Multienterprise Information Network Tower (MINT), Supply Chain Work Management (SCWM), and Product Availability Intelligence (PAI) products.

DSCSA Readiness: 5,409 connections on the TraceLink Network are ready to receive EPCIS data and nearly 250 connections are already receiving EPCIS from upstream vendors.

Awards and Recognitions: Honored with a 2023 Innovation Award for MINT from Pharma Manufacturing and recognized by Healthcare Innovations for industry contributions.

Industry Collaboration: Strategic partnership announced with PharmaLink, the leading reverse logistics provider serving life sciences and healthcare customers in the United States, aimed at helping these organizations accelerate and simplify their preparedness for DSCSA and resulting in seven new customers.

"We are proud to announce that in Q3, our relentless pursuit of innovation has not only fueled our company's continued growth but has also enhanced our ability to meet and exceed the evolving needs of our end-to-end network of customers across the healthcare and life sciences industry," said Shabbir Dahod, President and CEO at TraceLink. "As we look forward to 2024, the TraceLink customer and partner community have communicated to us their need for next-generation supply chain digitalization solutions focused on bridging the digital divide that prevents them from solving problems that stem from using siloed enterprise systems and processes. The uptake in the emerging TraceLink suite of non-regulatory products focused on end-to-end supply chain visibility and collective intelligence confirms this as fact."

Upcoming Q4 2023 and 2024 Initiatives:

New Product Releases & Enhancements:

Launch of the TraceLink Digital Recalls solution which will revolutionize the way the healthcare industry tackles currently slow-moving and paper-based recalls, reducing the time for pharmacy teams to manage this process by more than 25%.

Introduction of additional MINT capabilities, including B2B integration and transforms for logistics, inventory balances reporting, inventory adjustment, planning schedule with release capability, user experiences for procure-to-pay and order-to-cash, and more.

Company & Employee Expansion: 48 new hires were onboarded globally in Q3, with 167 new employees year-to-date, expansion to a brand new technology campus in Pune India to support further employee expansion, and 64 current job requisitions open across TraceLink to deliver and ensure customer success with new and existing products.

Event & Community Engagement: Active engagement in seven global supply chain and regulatory events underscores our commitment to community collaboration. We held 41 TraceLink Community meetings attended by 335 unique companies with over 2,800 engagements. Additionally, Elizabeth Waldorf, our Head of Global Traceability and Standards, led a pivotal GS1 panel discussion on the importance of upholding pharmaceutical integrity and ensuring patient safety.

About TraceLink Inc.:

TraceLink Inc. is the leading digital network platform company, enabling end-to-end product orchestration by connecting more than 291,000 healthcare and life sciences entities through its B2N Integrate-Once™ network. Leading businesses trust TraceLink to deliver complete global connectivity, visibility, and traceability of pharmaceuticals, ensuring that every patient gets the medicines they need when needed, safely and securely. For more information, visit www.tracelink.com.

SOURCE Tracelink, Inc.