BIP Sells Ingenious Med Generating a 9x Return to Investors

ATLANTA, Oct. 28, 2014 /PRNewswire/ -- BIP Capital announces the sale if its interest in Ingenious Med to North Bridge Growth Equity, a Boston-based private equity firm.  The sale generated a 9x gross return for BIP Capital and its first round investors.

"Ingenious Med represents everything BIP Capital looks for in an investment – large market opportunity, an industry leading product, and accelerating revenues," said Mark Buffington, Managing Partner at BIP Capital.  "From the moment I met Dr. Steve Liu, I knew there was something special about him and the company he was building.  Steve had a tremendous ability to assess what his fellow physicians needed and to translate that into great software.  Seven years later, under the leadership of Steve Liu and Hart Williford, we have built the nation's preeminent Patient Encounter platform.  We are really the only true point-of-care platform solution in the industry."

"BIP saw the potential of Ingenious Med before anybody else," said company founder Steve Liu, "and along the entire journey they have been a true partner."  Ingenious Med CEO Hart Williford, added, "BIP has lived up to their reputation of "being more than just capital."  The have opened doors with customers, assisted us in bringing in leadership, and helped us to craft strategy.  Investing capital is really a secondary consideration for BIP; their focus is building great businesses… and that really differentiates them. "

BIP Capital will continue to hold an equity stake in Ingenious Med through Fund II.  "Our Seed and Fund I Investors have been in the Ingenious Med investment for more than six years, so it is a good time for us to realize a handsome return for them," stated Buffington.  "We are retaining a position in Ingenious Med through Fund II because we still believe in the Ingenious Med story and Hart and Steve's vision."

About Ingenious Med

Ingenious Med provides the leading patient encounter platform, a cloud based, Web and mobile point-of-care solution that automates the workflow of care teams in the areas of care coordination, charge capture, and advanced analytics.  Ingenious Med develops useful, useable solutions to increase the quality of care, protect and bolster revenue, and most importantly of all, put physicians' time where it is needed most: with their patients.  Founded in 1999 by a group of physicians that sought to use technology to address the unanswered needs of the healthcare providers with useable solutions, Ingenious Med stands today as an industry leader, serving more than 25,000 users in the nation's leading healthcare facilities.  www.ingeniousmed.com

About BIP Capital

Headquartered in Atlanta, GA, BIP Capital is the most active venture investor in the Southeast.  We are the entrepreneurs behind the entrepreneurs.  Visionaries.  Doers.  Partners in the journey.  Our investment results and our reputation with founders speak for themselves.  www.bip-capital.com

SOURCE BIP Capital

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