BIA Digital Partners Invests $10 Million in Eli Research, Inc.Investment Supports Company's Future Growth Plans CHANTILLY, Va. -- BIA BIA abbr. Bureau of Indian Affairs Digital Partners II LP, a private investment firm focusing on mid- to later stage companies, announced today a mezzanine investment of $10 million in Eli Research, Inc ("Eli" or the "Company"), providing the Company with growth capital to help finance its strategic initiatives. In conjunction with the investment, BIA's Scott Chappell has been appointed as an observer to Eli's board of directors. Eli was founded in 1992 and is headquartered in North Carolina's Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. Region, with additional offices in Naples, Florida Naples is a city in Collier County, Florida, USA. As of 1 July 2006, the U.S. Census Bureau estimated the city's population at 21,804.[3] Naples is the County seat of Collier County, and is a Principal City of the Naples-Marco Island, Florida Metropolitan Statistical , Wellesley, Massachusetts Wellesley is a town in Norfolk County, Massachusetts, United States. The population was 26,613 at the 2000 census. It is best known as the home of Wellesley College and Babson College. , Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or , and Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . Eli is a research and information company with more than 120 print and online publications, teleconferences and audio learning products, primarily for the healthcare sector and secondarily for law and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . The company has a customer base of more than 200,000 high-level professionals and decision makers nationwide. Eli is one of the largest and fastest-growing information providers of its type and focuses exclusively on providing high-quality news and analysis for professionals who need critical news and information to survive and prosper. Through its subsidiary, American Academy of Professional Coders, or AAPC AAPC American Academy of Professional Coders (National Organization headquartered in Salt Lake City, Utah) AAPC American Association of Political Consultants AAPC Avis d'Appel Public à la Concurrence (France) , Eli is the lead provider of education, examinations, and certifications to the medical coding profession. "Eli Research has diversified from its roots as a print, newsletter publisher and now offers an array of products to our valued customers," said Greg Lindberg, President and Founder of Eli Research. "BIA Digital Partner's capital provides the funding necessary to finance our growth initiatives and strategic goals. BIA has experience in healthcare information, which helped them understand our business very quickly. Scott Chappell will be a welcomed addition to our Board of Directors." "The healthcare information sector is large and growing. BIA was attracted to the diverse product offering that Eli provides to tens of thousands of healthcare professionals. We look forward to supporting Eli's continued growth initiatives within healthcare and other sectors," stated Scott Chappell. Additional information on BIA Digital Partners II LP is available by contacting Scott Chappell or Damien Dovi at (703) 227-9600. Further information is also available at www.biadigitalpartners.com. About Eli Research Eli Research is headquartered in North Carolina's Research Triangle Park region, with additional offices in Naples, FL, Wellesley, MA, Rochester, NY, and Salt Lake City, UT. Eli Research is diversified business-to-business media company with a market leading presence in medical coding and healthcare reimbursement information. Eli serves a customer base of over 200,000 professionals. For more information, visit www.eliresearch.com. About BIA Digital Partners BIA Digital Partners is a private investment firm, managing over $250 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on mid- to later-stage companies operating in the media and entertainment, telecommunications, information, business and consumer services industries. Investments generally range from $5 to $12 million and are in the form of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". with warrants or preferred equity. For more information, go to www.biadigitalpartners.com. |
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