Talyst Systems, a provider of software tools for pharmacies, was acquired Tuesday by medical supply management specialist Swisslog Healthcare.
Talyst Systems’ headquarters in Kirkland, Wash., will become a Swisslog office, focused on software offerings for pharmacies, specifically automation and analysis. Those tools help pharmacies streamline work and cut down the time employees spend doing menial tasks.
The majority of Talyst’s employees will transition to roles with Swisslog. The companies did not disclose the terms of the deal.
“Talyst develops customer-centric technologies that enable providers to deliver better patient care. Our culture of innovation and accountability aligns well with Swisslog Healthcare,” Talyst CEO Carla Corkern said in a press release. “With Swisslog we can now scale our solutions globally, taking advantage of their sales reach, manufacturing, and R&D facilities across North America, EMEA and Asia. We’re excited to be part of a strong and dedicated organization building towards an important differentiated vision for health systems and hospital pharmacies.”
Corkern will not join Swisslog after the transition.
Talyst was founded in 2002 and develops hardware and software that automate pharmacy operations. In 2015, alternative investment group Columbia Pacific Advisors acquired Talyst’s pharmacy automation business. The company’s drug pricing software and compliance services split off to become Verity Solutions.
After the acquisition, several healthcare players showed interest in the company. Talyst board member and managing director of Columbia Pacific Advisors Stead Burwell spearheaded the company’s search for a good fit, eventually arriving at the deal with Swisslog.
“There’s a very strong strategic and tactical fit between the companies,” Burwell said. Specifically, Talyst’s automation technology combined with Swisslog’s robotics expertise opens the door to a variety of technologies that could streamline operations for health care centers.
“Ultimately, we think robots and automation are an enabling set of core technologies that will ultimately help health systems and their key talent be able to spend more time on patient care and less time on routine tasks,” he said, “all at the same time improving patient quality and achieving better clinical outcomes.”
Talyst raised a total of $50 million from investors including OVP and Ignition Partners prior to the acquisition by Columbia Pacific Advisors.
