SCRA’s SC Launch® Affiliate Invests in Lowcountry

SC Launch, an SCRA affiliate, is recognizing a Lowcountry entrepreneurial start-up company today. Sabal Medical is receiving a second, follow-on SC Launch investment of $100,000 based on its recent achievement of stringent business milestones. Sabal is a medical technology company that provides patent-pending, automated medication carts and bar code verification software. The Sabal cart helps nurses and pharmacists provide safe care by accessing and administering medicines at the bedside.

Bill Park, Sabal President and CEO said “the funds from SC Launch give us a good bridge to get to that next round of commercial financing. We’re in a crucial time with our business where we’ve completed R&D, we have our first few customers and we’re gearing up to attack the marketplace with our product.” Sabal relocated to South Carolina from Washington State in 2006 after receiving an initial $200,000 investment from SC Launch. Sabal simultaneously formed a relationship with Greenville Hospital System, nationally known for its leading edge pharma technology, where Sabal’s automated medication carts were tested.

“As a landing party – a company that relocates to South Carolina from elsewhere in the country – Sabal Medical represents a key program of SC Launch in conjunction with its partners that attracts companies to South Carolina,” said Bill Mahoney, SCRA CEO. “Many thanks go also to the Greenville Hospital System, who has been an integral partner to Sabal’s early success.”

Sabal Medical was the first SC Launch landing party. The company subsequently obtained follow-on private capital funding from Nexus Medical Partners, a member of the SC Venture Capital Investment Authority and a frequent co-investor with SC Launch, Inc. SC Launch companies have to date secured more than $71 million in follow-on venture capital and private equity funding with an additional $25-$30 million currently pending.

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About Sabal Medical
Leveraging years of experience in health care, automation and information technology, the leadership at Sabal Medical is driving efficient medication handling and patient safety to a whole new level.

Sabal Medical’s aim is to bring nurses and pharmacists together, empowering them with the right tools to recapture wasted time, streamline key processes in hospital medication distribution, reduce medication errors and improve patient safety.

About SC Launch
SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network. The SC Launch mission is to help generate knowledge economy jobs in South Carolina, enhance the state’s quality of life and provide opportunity for all South Carolinians in the new economy.

About SCRA
SCRA is a global leader in applied research and commercialization services with offices in South Carolina, Ohio and in the Washington, D.C. area. SCRA collaborates to advance technology, providing technology-based solutions with assured outcomes to industry, government, and research universities in SC, the US and globally.