Cleveland-based PE firm The Riverside Co. has acquired Champion Healthcare Technologies, previously a portfolio company of Chicago VC firm Jump Capital

Lake Zurich, Ill.-based Champion is a SaaS provider that enables hospitals to manage surgical implants throughout their life cycle — from receipt, inventory storage and usage to post-surgical tracking and reporting. The company is combining with HemaTerra Technologies, a provider of SaaS-based solutions for independent and hospital-based blood collection centers and plasma collection centers. Riverside made an investment in HemaTerra earlier this year.

“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,” Jump Managing Partner Mike McMahon said in a statement. “We are very happy for the team to find a great home and future partner in Riverside.”

Champion’s industry-leading solutions are used by many of the largest and most sophisticated health systems in the U.S. Through deep integration with vendors, system-wide visibility into implants and analytics, Champion’s implant management software helps customers improve patient safety, reduce costs and maintain compliance. The combined company will serve over 500 hospitals and many of the leading independent blood and plasma collection centers in the U.S. 

“Champion’s robust set of software solutions and near-perfect customer retention rates speak for themselves,” Riverside Managing Partner Loren Schlachet said in a statement. “We are thrilled to partner with the Champion team and help further expand their product development and customer support efforts.”

To date, Riverside has completed more than 150 investments in software and health care companies.

“Our investment in Champion will help HemaTerra quickly expand more meaningfully into the hospital market,” Riverside Partner Joe Manning said in a statement. “This combination will create an industry-leading, medical specialty software company helping to connect and coordinate multiple constituents in the supply chain, including blood banks, tissue banks, hospitals, manufacturers, donors and volunteers.”

Working with Schlachet and Manning on the deal were Vice President Garrett Monda, Senior Associate Chris Shea, Associate Sara Mostatabi, Operating Partner Steve Pogorzelski, Finance Director Mark Pigott, Principal Dan Haynes and Associate Max Weber. Regional Director of Origination Polly Mack sourced the deal for Riverside.