Jump Capital, a Chicago-based venture & growth capital firm, today announced the sale of its portfolio company, Champion Healthcare Technologies, a software-as-a-service provider for hospitals to track and manage tissue and implantable devices throughout their chain of custody to enable regulatory compliance, improve patient safety, and increase cost savings by optimizing device utilization. The Riverside Company has acquired Champion and combined it with HemaTerra Technologies, a recent Riverside investment that provides software solutions to hospital-based and independent blood and plasma collection centers. Terms of the transaction were not disclosed.
Since Jump first invested in Champion in 2013, the team supported the company financially and operationally, with deep engagements from its operating partner team that helped the company grow its revenue nearly 6x since its initial investment.
“Champion’s ability to attract, retain, and grow its loyal customer footprint has been a remarkable story and we are proud to have been part of the company’s journey,” said Jump Managing Partner Mike McMahon. “We are very happy for the team to find a great home and future partner in Riverside.”
Champion’s proprietary UDITracker and WarrantyTracker products serve some of the largest health systems in the U.S., and Jump has seen the company grow its trusted customer base from approximately 125 hospital customers to well over 500 since 2013.
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“We were pleased to partner with Jump, who allowed us to implement our vision for the company with the support of a true partner with capital and operating assistance to effectively address an industry gap,” said Pete Casady, co-founder and CEO of Champion.
“The Jump team thoroughly enjoyed our partnership with Champion’s co-founders Pete and Tom Casady and the rest of the management team to achieve this fantastic company milestone,” said Jump Operating Partner and Champion’s Chief Financial Officer Pete Carroll. “Champion is a prime example of Jump’s commitment to providing not only financial resources for its portfolio companies but also executive advisory and operating engagements to drive growth-oriented and disciplined decision making.”
Date: June 10, 2019
Source: Daily American