Officite Announces Closing of First Round Funding
Oak Brook, IL, July 14, 2003. Officite, LLC, a leading provider in medical Web site development and marketing services, today announced the closing of its first round of private equity funding, led by RT Jahn Enterprises.
"We are extremely pleased to have completed the main phase of our first round funding strategy. This allows the company to accelerate it's growth strategy with additional and enhanced products, and to launch into 10 new medical disciplines before the end of 2003," commented David Duerr, Chairman of Officite. "The size and structure of our funding arrangement allows Officite to take full advantage of this immediate market opportunity and continue to realize our growing market leadership position."
RT Jahn Enterprises is a private equity investment group organized by Randall T. Jahn. Martin D. Jahn, formally an operating partner and significant shareholder in Chicago Metallic Corporation, also participated in the funding. RT Jahn Enterprises investment targets include earlier stage and middle market entrepreneurial growth businesses, including expansion and growth financing, in businesses they believe can be structured to have scalable business models, reliable cash flow and profitability.
"Officite has an exciting vision and has proven it's business model through its early stage results," said Randall Jahn. "They have a growing customer base in the medical market and I feel the combination of our funding and business experiences will support Officite in its next phase of products, markets, growth and strategy."
"The space in which Officite is operating is extremely interesting. Medical practitioners are coming under increasing pressure to differentiate and grow their practices," said Martin Jahn, "The approach taken by Officite directly addresses many market issues, and allows doctors to quickly, easily and affordably market their practice and increase their revenue."
Under the structure of the funding arrangement, RT Jahn Enterprises will receive one seat on Officite's Board of Directors. Glenn Lombardi, Officite's President, said, Randy's personal experience in the medical industry, entrepreneurial drive and desire to be an active board member were all instrumental in our selection of RT Jahn Enterprises."
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About Officite, LLC
Officite, LLC is the leader in medical Web site development and marketing services. Their solutions are proven to help build and grow successful medical practices. Unlike consultancies, Officite has a very unique and customized line of marketing products that educate, inform and differentiate. Their well-designed solutions are easy to understand and quick to implement. Officite's products can be reviewed on its Web site at www.officite.com. Its office can be reached at 800-908-2483.
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