The Riverside Company, a leading private equity firm, has reportedly invested in Champion Healthcare Technologies, a SaaS provider that assists hospitals in managing surgical implants throughout their life cycle, from inventory storage, receipt and usage to post-surgical reporting and tracking.
Apparently, Champion is combining with HemaTerra Technologies, a recent Riverside investment that provides SaaS-based solutions to hospital-based and independent blood and plasma collection centers.
Sources familiar with the matter mentioned that the industry-leading solutions of Champion are used by some of the largest and most sophisticated health systems in the U.S. Through profound integration with vendors, system-wide visibility into analytics and implants and with the implant management software of Champion, it helps customers to improve patient safety, maintain compliance and reduce costs.
According to Loren Schlachet, a Riverside Managing Partner, the robust set of software solutions and near-perfect customer retention rates of Champion speak for themselves. Riverside will help to further expand its product development process and customer support efforts, he said.
The investment of Riverside in Champion will help HemaTerra to swiftly grow more meaningfully into the hospital market. This combination would create an industry-leading, medical specialty software company to help in connecting and coordinating various constituents in the supply chain, including tissue banks, blood banks, manufacturers, hospitals, volunteers, and donors, said Riverside Partner Joe Manning.
Seemingly, Champion is the latest example of Riverside’s commitment to investing in healthcare and software companies. Till date, the firm has invested in over 150 companies from these specific areas, having a team of worldwide experts focused on growing companies in these specializations.
For the uninitiated, Champion was founded in 2005 and provides complete implant management solutions to more than 500 health systems and hospitals. Its wide-ranging portfolio allows organizations to effectively manage and track implants throughout their life cycle to improve patient safety, minimize risk, and lower costs.
Source Credit: https://www.riversidecompany.com/en/News%20and%20Media/Press%20Releases/Champion%20News%20Release