Venture capital firm Jump Capital said today that it sold its portfolio company, healthcare software-as-a-service provider Champion Healthcare Technologies, to The Riverside Company in an undisclosed deal.
Chicago-based Jump Capital said that Champion Healthcare developed and supports a software intended for use in helping hospitals track and manage tissue and implantable devices throughout their chain of custody.
“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. We are very happy for the team to find a great home and future partner in Riverside,” Jump managing partner Mike McMahon said in a press release.
“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,” Champion co-founder & CEO Pete Casady said in a prepared statement.
The Riverside Company plans to combine the Champion platform with HemaTerra Technologies, a recent acquisition that provides software solutions to hospital-based and independent blood and plasma collection centers.
“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. 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,” Jump operating partner and Champion’s CFO Pete Carroll said in a prepared release.