GraphiteRx provides a cloud-based marketplace that consolidates direct pharmaceutical procurement for hospitals, pharmacies, and clinics, enabling them to manage over $500 million in spending on essential medical supplies. This platform reduces costs and improves access to products by streamlining the ordering process and eliminating the inefficiencies associated with traditional wholesale distribution.
Funding
$14.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BCLVFounders
Product
Problem
Hospitals, pharmacies, and clinics face challenges in pharmaceutical procurement due to high distribution costs, limited access to products for smaller entities, and the complexities of managing multiple suppliers. Manufacturers also bear operational and financial burdens in establishing direct accounts to ensure product access for providers.
Solution
GraphiteRx offers a cloud-based marketplace that streamlines direct pharmaceutical procurement, enabling hospitals, pharmacies, and clinics to manage spending on essential medical supplies. The platform reduces costs and improves access to products by consolidating the ordering process and eliminating inefficiencies associated with traditional wholesale distribution. It levels the playing field for providers and suppliers by partnering with manufacturers, distributors, and organizations to ensure seamless access and cost reduction. The Graphite Marketplace facilitates the management of drug shortage products, higher-cost/lower-volume brands and generics, specialty lite items, biosimilars, vaccines, rare disease drugs, and medical devices/supplies sold directly by manufacturers.
Target Audience
The primary customers are hospitals, pharmacies, and clinics seeking to reduce costs and improve access to pharmaceuticals and medical supplies, as well as manufacturers looking to expand their reach and streamline order management.
Features
- Marketplace platform for managing pharmaceutical and medical supply procurement.
- Seamless order-to-cash solution integrating standard EDI technologies.
- Full control of catalog offerings and pricing for suppliers, without RFPs or punitive provisions.
- Predictable payment guaranteed for suppliers, without customer credit risk.
- Co-branded ordering marketplace platform for partners to serve their clients and members.