James S. Ely, III
James S. Ely III was elected to our Board of Directors in May 2009. Mr. Ely founded PriCap Advisors, LLC (formerly known as Priority Capital Management, LLC) in 2008 and has served as its Chief Executive Officer since its inception. From 1995 to 2008, he was a senior banker and managing director in J.P. Morgan’s Syndicated and Leveraged Finance Group, where he was responsible for structuring and arranging syndicated loans and high yield issues in the healthcare, aerospace, defense and other sectors. Mr. Ely’s service with J.P. Morgan’s predecessor institutions commenced in 1987. He is a director of Select Medical Corporation, a provider of long-term hospitalization services, and serves on its audit and compliance committee.
Mr. Ely’s educational background (MBA in finance and accounting from the University of Chicago) and extensive (over twenty years) experience in the financing industry, and in the healthcare sector in particular, provide a needed area of expertise among our independent Board members. He is able to assist our Board members and management in evaluating financing opportunities, as he has specific experience in financing the types of indebtedness reflected on our balance sheet.