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Swisslog Holding acquires Sabal MedicalJan 11, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Swisslog Holding AG, a Switzerland-based provider of logistics solutions for warehouses, distribution centers and hospitals, has acquired Sabal Medical, Inc., a US-based medical technology company that provides patent-pending, automated medication carts and bar code verification software, for a consideration of CHF8.7 million ($9 million). Sabal's main product, a mobile drug cabinet, will become an integral component of Swisslog's Automated Drug Management Systems product portfolio. Sabal Medical's mobile drug cabinet is lighter, more maneuverable and stores more drugs than any COW (computer-on-wheels) on the market. It is designed to reduce the medication retrieval and delivery burden of nurses. Sabal Medical was backed by a syndicate led by Nexus Medical Partners (using equity capital from the state of South Carolina) and also included Medicis Capital GmbH and SC Launch!. Deal Value (US$ Million) 9 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2011-01-10 Deal Participants Target (Company) Sabal Medical, Inc. Acquirer (Company) Swisslog Holding AG Deal Rationale Sabal's mobile drug cabinet complements Swisslog's integrated medication management product strategy for healthcare facilities. The acquisition strengthens Swisslog's market position as a provider of a complete suite of systems and services that optimizes the total medication management supply chain in hospitals. |