Merion Investment Partners issued subordinated debt to support an acquisition and provide growth capital for ITelagen, Inc.(“ITelagen”).
ITelagen, located in Jersey City, NJ, provides IT services (support, data security and computer health) as well as NextGen EHR services (hosting, template developement and system administration). The acquisition of over the hosting and maintenance contracts of over 700 providers will be additive to its existing service platform, and the growth capital will be used to fund hosting equipment to support the company’s rapid growth.