SEATTLE, Oct. 20, 2015 /PRNewswire/ -- Columbia Pacific Advisors, LLC ("Columbia Pacific"), a Seattle-based alternative investment firm, is pleased to announce that the Columbia Pacific Growth Capital strategy has acquired the hardware division of Talyst, a leading provider of medication management and dispensing solutions to hospitals and skilled nursing facilities. The transaction will enable Kirkland, WA-based Talyst to leverage Columbia Pacific's deep operating history and extensive network of leading domestic and international healthcare providers.
"We are excited to make this investment in Talyst, whose innovation and best-in-class solutions have led the way in pharmacy automation and automated medication delivery," said Dan Baty, Co-Founder of Columbia Pacific Advisors. "The company has built upon its success in acute care to expand into the skilled nursing facilities and corrections markets. Our team recognized an opportunity to fuel strong potential growth by supporting ongoing advancement in Talyst's medication management systems and placing them into more healthcare providers, both domestically and abroad."
"Talyst's deep understanding of the medication delivery market enables it to develop next generation drug dispensing technology that improves the healthcare provider's ability to effectively control high volumes of medication at their facilities," said Kevin Barber, Portfolio Manager for Columbia Pacific's Growth Capital strategy. "More importantly, it enables more effective medication adherence, resulting in better outcomes for patients."
Talyst's medication management solutions include a comprehensive suite of automated packaging and dispensing equipment, as well as integrated software for pharmacy management, inventory management, and next generation pharmacy dispensing capabilities.
"Columbia Pacific's extensive knowledge of the broader healthcare market and differentiated approach toward strategy and structure will enable us to deliver solutions that can help transform how medications are dispensed and managed," said Carla Corkern, CEO of Talyst. "We are committed to leveraging the resources of this relationship to help health systems improve patient care and outcomes by revolutionizing the pharmacy automation space."
The transaction will result in the separation of Talyst's acute care and long-term care businesses – now Talyst Systems, LLC – from the 340B software business. The two companies will continue to work closely together to best serve their joint customers and offer valuable solutions to healthcare systems of all sizes. Carla Corkern will remain CEO of Talyst Systems, LLC and Columbia Pacific's Barber will join the Board of Directors. Financial terms of the transaction were not disclosed.
About Columbia Pacific Advisors, LLC
Columbia Pacific Advisors, LLC manages more than $1 billion* across a variety of alternative investment strategies including private equity, public equity, real estate, distressed debt and special situation lending. Partners at Columbia Pacific have deep roots in the acute care and long term care arenas. Dan Baty was Founder, Chairman, and CEO at Emeritus Corporation and Chairman and CEO of Holiday Retirement Corporation.
Columbia Pacific Advisors, LLC is headquartered in Seattle, WA.
For more information, please visit www.columbiapacific.com
*Regulatory assets under management as of 6/30/15.
About Talyst Systems, LLC
Talyst Systems, LLC is a leader in pharmacy automation, with a network of more than 350 acute-care hospitals and 125 long-term care facilities nationwide. Talyst solutions provide enterprise-wide medication management across the entire health system to offer greater inventory control, enhanced workflow efficiency, and improved patient safety.
Talyst Systems, LLC is headquartered in Kirkland, WA.
SOURCE Columbia Pacific Advisors, LLC