CLEMMONS — Medication shortage management company OrbitalRx Inc. has raised $718,500 in equity, according to a Securities and Exchange Commission filing.
The Clemmons-based company raised $718,000 from seven investors. The company said that the proceeds will be used for payments in the ordinary course of business.
OrbitalRx deals with consulting in the fields of health care and hospital operations management. It is focused on building software products for hospital pharmacists to deal with the problem of medication shortages.
OrbitalRx
Drug shortages are caused by a range of factors, from weather to politics to business, and are often unpreventable. OrbitalRx strives to help pharmacy teams become more effective and creative in finding ways to get patients the medication and treatments they need.
Chief Executive Officer Adam Orsborn founded the company in 2017. Orsborn founded Veldt Community in 2015, a community of pharmacy experts who aim to modernize pharmacy services in regards to technology and automation.
He worked at Wake Forest Baptist Health for almost seven years and served as its executive director of health system pharmacy services from 2012 to 2015.
OrbitalRx currently employs two to 10 workers. The company is looking to hire a data engineer, a frontend engineer and a full stack developer. The job listings were posted on the company website.
The previous name of the company is Arxchitect Inc. According to the U.S. Patent and Trademark Office, on Aug. 22 Arxchitect filed a trademark registration for OrbitalRx.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
