Story excerpt provided by The Plain Dealer.
Written by Karen Farkas.
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.
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Originally published April 13, 2017.