Swiss company buys Daniel Island's Sabal Medical

Daniel Island-based Sabal Medical Inc., a privately held medical technology company, has been acquired by Swisslog, a Switzerland-based provider of logistics solutions for hospitals, warehouses and distribution centers.

Swisslog offers a suite of systems and services to optimize the medication management supply chain in hospitals.

Sabal Medical's main product, a mobile drug cabinet, will become an integral component of Swisslog's Automated Drug Management Systems product portfolio, officials said in a statement.

The purchase is valued at $9 million, officials said.

"The acquisition of Sabal Medical is an important step forward in reaching our goal of becoming a leader in drug management solutions within the acute care hospital segment," said Remo Brunschwiler, CEO of Swisslog.

Swisslog's other drug management products include PillPick, BoxPicker, ATP High-Speed Packager, Pick-to-Light Shelving and Inventory Management Software--automation systems that streamline the operations of both in-patient and outpatient hospital pharmacies.

Sabal Medical was founded in 2006 by CEO Bill Park and CIO David Duranceau and relocated from Seattle to the Charleston area in 2007.

The company received a $150,000 investment from SC Launch in 2007 that allowed it to complete its commercial prototype. SC Launch, an initiative of SCRA, assists startup companies with up-front counseling, seed-funding and access to a resource network.

The following year, Sabal received backing from an international investment syndicate led by Nexus Medical Partners, using equity capital from South Carolina's Venture Capital Investment Act, and Medicis Capital GmbH of Munich.

"This is a very exciting time for South Carolina, the Charleston area, and especially those of us here at Sabal," Park said. "Our solutions align very well with Swisslog's product portfolio and will help Swisslog achieve its goal of providing seamless integration from the pharmacy to the point of use."