Global private equity firm Riverside Company has acquired Champion Healthcare Technologies from Jump Capital for an undisclosed sum.
Champion Healthcare is a software-as-a-service provider (SaaS) provider, which enables hospitals to manage surgical implants across their life cycle ranging from receipt, inventory storage and usage to post-surgical tracking and reporting.
Riverside will combine Champion with its HemaTerra Technologies, which offers software solutions to hospital-based and independent blood and plasma collection centers.
Jump managing partner Mike McMahon said: “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.”
Established in 2005, Champion offers comprehensive implant management solutions to more than 500 hospitals and health systems.
The company’s solution will help organizations to better track and manage implants throughout their life cycle to enhance patient safety, reduce costs, and minimize risk.
Major health systems in the US are using Champion’s UDITracker and WarrantyTracker products to manage their hospital operations.
UDITracker has been developed to streamline workflow, optimize inventory management and improve patient safety. It will completely automate implant and tissue tracking processes and workflow.
WarrantyTracker has been developed to provide complete visibility across the claims process. It will help improve processes, reduce audit risk and optimize payments.
The company also supplies fully integrated RFID solutions to completely automate the chain of custody. They will help improve inventory management, streamline workflow and ensure data accuracy.
Champion co-founder and CEO Pete Casady said: “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.
Established in 1988, Riverside invests in growing businesses valued at up to $400m (£315m). Riverside has made more than 600 investments since its establishment.
Jump Capital offers capital and strategic resources for companies within the B2B SaaS, media, IT/Data infrastructure, and Fintech sectors.