Canal Partners sells interest in WebPT to Battery Ventures for 16x return

Early stage venture firm Canal Partners said it sold its interest in WebPT to Battery Ventures. The Scottsdale, AZ, firm said it yielded a 16x return from the sale.

Canal invested $1 million in the cloud-based electronic medical record company in December 2010, according to a press release. The company evolve from a documentation system for physical, occupational and speech therapists to a software solution for the outpatient rehab therapy, the release said.