CLEVELAND, Ohio - Cuyahoga County's partnership with JumpStart, in which the venture development organization invests county money in startups and early stage businesses, has paid off.
A company JumpStart invested in, CoverMyMeds, recently sold to McKesson for over $1 billion. As a result, the county will receive back its entire $4.5 million investment, while remaining a part of two investment funds. That way the county will receive more returns as more companies succeed, the county said in a statement.
Image: Sam Rajan, a pharmacist, cofounded CoverMyMeds software company, which was acquired by McKesson Corp, for $1.1 billion. In this 2014 file photo, he's talking with a Walgreens pharmacy manager. (Lynn Ischay, The Plain Dealer)
