talyst1Seattle-based Talyst announced on Tuesday the 13-year-old company is splitting its business and selling its hardware division to Seattle-based investment firm Columbia Pacific Advisors.

Talyst, which was founded in 2002, has raised over $50 million over the years. It builds both hardware and software systems to automate medicine management for hospitals and pharmacies, integrating medication storage, inventory, ordering, barcoding and clinical systems into one platform.

The company has now installed its system in over 700 healthcare facilities.

Carla Corkern
Carla Corkern

After the sale, however, the software side of the business will split from the hardware side, which is will now be called Talyst Systems. Carla Corkern, who was CEO of Talyst, will now be CEO of Talyst Systems.

The terms of the deal were not disclosed.

Columbia Pacific Advisors is an alternative investment firm with over $1 billion under management in real estate, lending and public and private equity. The firm has deep roots in the healthcare arena, and hopes to use that to take Talyst to the next level.

“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,” Dan Baty, Co-Founder of Columbia Pacific Advisors, said in a press release.

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