Riverside Company Acquires Champion Healthcare Technologies to Enhance SaaS-Based Surgical Implant Tracking Solutions

VCBeat (WeChat ID: vcbeat) has learned that global private equity firm Riverside Company recently announced the completion of its acquisition of healthcare software technology company Champion Healthcare Technologies. The specific transaction amount was not disclosed. Following the acquisition, Champion Healthcare Technologies will merge with HemaTerra Technologies, which was previously acquired by Riverside Company.

Champion Healthcare Technologies was founded in Lake Zurich, Illinois, in 2005, primarily providing comprehensive organization and implant tracking solutions for hospitals and healthcare systems. The company developed a SaaS-based management platform to track implant usage and manage inventory, helping hospitals manage and track the use of surgical implants throughout their lifecycle, thereby reducing medical costs and minimizing patient risk. In 2013, Champion Healthcare Technologies was acquired by the venture capital firm Jump Capital.

Champion Healthcare Technologies’ products and services mainly include the proprietary UDITracker and RFID storage systems, serving some of the larger hospitals and healthcare institutions in the United States.

UDITracker fully automates the implant and tissue tracking process. The product connects to mobile devices, delivering instant notifications for important updates and providing access to critical alerts and real-time usage data. UDITracker streamlines workflows, optimizes inventory management, and enhances patient safety.

RFID Storage System: A fully automated system for monitoring the storage of surgical implants, enabling rapid inventory access without manual data entry, real-time updates of inventory status and data, automatic daily temperature logging, streamlined inventory management workflows, and ensured data accuracy.

HemaTerra Technologies, which was acquired, is also a healthcare software services company based on a SaaS management platform. It primarily provides software solutions for hospitals and independent blood and plasma collection centers. On April 18, 2019, HemaTerra Technologies was acquired by Riverside Company.

Riverside Company is a global private equity firm headquartered in Atlanta, Georgia, focused on acquiring and investing in growth-stage companies with enterprise values of up to $400 million or more. Since its founding in 1988, Riverside has completed over 600 investments. The firm’s international private equity and structured capital portfolios comprise more than 90 companies, with assets under management exceeding $8 billion.

“Jump helps us achieve our corporate goals, and we are delighted to partner with Jump,” said Pete Casady, Co-Founder and CEO of Champion Healthcare Technologies.

Jump Capital is a venture capital and growth equity firm that provides funding and strategic resources to companies in the B2B, SaaS, media, IT/data infrastructure, and fintech sectors. Since its inception in 2012, Jump has made more than 50 technology-driven investments.

(Compiled by Li Chengping)