Sabal Medical Receives Second Tranche of Venture Capital
Daniel Island, SC July 11, 2008 -- Sabal Medical Inc, a privately held company whose products are helping hospitals deliver medications to their patients more safely and efficiently, is pleased to announce that it has closed on the second tranche of its previously announced institutional investment financing (see press release dated February 19, 2008), led by Nexus Medical Partners of Quincy, MA, and its German affiliate, Medicis Nexus Partners GmbH of Munich.
"We closed on this tranche as a result of reaching key customer milestones," said Bill Park, President and CEO of Sabal Medical. "With our sales pipeline growing, we have some very exciting times ahead of us, and the additional funds will allow us to continue our commercialization efforts already underway and scale-up as sales growth continues", says Park.
Sabal will use some of the additional funds to expand its production and support operations in the Charleston area, and will also add key staff to critical functional areas as product demand continues to increase.
About Sabal Medical
Founded in 2006, Sabal Medical is headquartered in Charleston, SC and is providing bedside mobile automation technology to improve the safety and efficiency of medication administration for hospitals and long-term care facilities.
About Nexus Medical Partners
Nexus Medical Partners is a private equity firm specializing in making private equity investments in and providing strategic assistance to medical technology and selected life science companies. Nexus has offices in Quincy, MA, Charleston, SC and Munich, Germany. Nexus and its Munich-based affiliate, Medicis Nexus Partners GmbH, supplied all of the institutional capital for the Company.
Sabal Medical Receives Second Tranche of Venture Capital
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