# ConsortiEX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/consortiex

- Industry: Healthcare IT
- Headquarters: Milwaukee, US
- Website: www.consortiex.com
- Total disclosed funding: $0.9M
- Latest round: Series A (Sep 10, 2014)
- Investors on record: 1

## About

ConsortiEX Inc. provides essential compliance solutions for the pharmacy sector, focusing on regulatory adherence related to drug safety and supply chain security.Founded in 2013 and headquartered in Milwaukee, US, ConsortiEX Inc. specializes in compliance solutions for the pharmacy sector. The firm has completed two deals, with the most recent funding round occurring on May 18, 2016. The company raised USD 2.6 mn in Series A funding, valuing it at USD 11.6 mn post-money. Neal Long serves as the CEO of the company.ConsortiEX specializes in providing comprehensive compliance solutions tailored for the pharmacy sector, particularly in relation to the Drug Supply Chain Security Act (DSCSA) and the Drug Quality and Security Act (DQSA). Their primary offerings include the DSCSA Compliance as a Service, which alleviates the compliance burden from healthcare providers by managing the complexities of drug safety and regulatory adherence. Additionally, the Assure-Trak® Compounding Management System supports both sterile and non-sterile compounding practices while ensuring compliance with multiple regulatory guidelines, including DQSA and various United States Pharmacopeia (USP) standards. These services are utilized by over 1,000 hospitals across the United States, including health system pharmacies and outsourcing facilities, enhancing patient safety and operational efficiency throughout the pharmaceutical supply chain.ConsortiEX operates on a subscription-based model, where healthcare institutions engage with the company's services to maintain compliance with stringent regulatory standards. The revenue structure is primarily derived from the provision of its flagship products, such as the DSCSA Compliance as a Service and the Assure-Trak® Compounding Management System, which facilitate seamless management of pharmaceutical compliance and operations. Clients, including hospitals and healthcare systems, typically subscribe to these services for ongoing compliance support, allowing for a continuous revenue stream. The company's innovative IT solutions streamline processes for ordering, distribution, and tracking of pharmaceuticals, further optimizing their clients' operational workflows.In May 2016, ConsortiEX raised USD 2.6 mn in Series A funding, which will be utilized to support the development of new products targeting enhanced compliance solutions for the pharmacy sector. The company plans to expand its services into new markets, particularly targeting healthcare providers in underserved regions across the US by the end of 2023. The recent funding will also help bolster its existing offerings and enhance its technological capabilities to improve client service delivery.

## Funding rounds

- Series A, Sep 10, 2014, $0.9M — Open Prairie

## Investors

- Open Prairie (https://capitalatlas.ai/funds/open-prairie) — Series A