Business Digest March 29, 2013
Arbor Occupational Medicine, a Boulder-based network founded in 1992, opened a clinic east of Twin Peaks Mall at 1860 Industrial Circle, Suite D, Longmont. Drs. Sander Orent and Lori Long, and certified physician assistant Clint Dillard are providing service for Longmont-area employers. Arbor specializes in treatment and rehabilitation of workplace injuries, drug screenings, physical examinations and medical monitoring. Arbor also has clinics in Boulder, Broomfield and Denver.
Exempla Good Samaritan Medical Center in Lafayette opened an emergency room just for seniors. The emergency department includes 10 rooms remodeled from existing space in the hospital. Hospital staff will receive special training to help them look at all health issues a senior patient may be dealing with, not just the emergency issue for seniors. It includes a “more quiet and organized” space in the hospital and nonslip floors, among other things, said Fred Yates, clinical manager of emergency and trauma services at the hospital.
Clean-tech market research firm Pike Research LLC in Boulder has rebranded as Navigant Research. Pike Research, founded by Clint Wheelock in 2009, was acquired in July by Chicago-based Navigant Consulting Inc. (NYSE: NCI) for an undisclosed amount July 1. The team of analysts in Boulder has expanded its research focus on other aspects of the energy industry, working together with more than 300 new consulting colleagues.
The Broomfield Economic Development Corp. has changed its name to the Northwest Denver Economic Development Partnership as it works to reorganize and expand its scope.
N30 Pharmaceuticals Inc. in Boulder has administered, in a clinical trial, the first dose of a drug designed to treat cystic fibrosis. The drug, labeled N6022, was administered this week to a patient at National Jewish Health in Denver. The primary objective of the study is to evaluate the safety of repeat doses of the drug. Secondary and exploratory objectives include the evaluation of N6022’s serum levels, lung function and other markers of disease activity in cystic fibrosis. The trial is being conducted in collaboration with the Cystic Fibrosis Foundation’s Therapeutics Development Network. The lead principal investigator for the study is Dr. Scott Donaldson at The University of North Carolina-Chapel Hill.
The University of Colorado-Boulder licensed technology to 3M Co. that promises to improve the performance of materials used in dental fillings and sealants, dentures and dental implants. Financial terms of the deal were not disclosed. The advanced polymer technology was developed by a team led by professor Christopher Bowman at CU-Boulder. Current dental restoration methods use light-cured polymer materials fitted by a dentist or oral surgeon. Eventually, the internal stresses built up within the material by the curing process cause it to shrink, which decreases the effectiveness and durability of the restoration.
Annual revenue in the smart-grid industry will grow to $73 billion by 2020, according to Boulder-based Navigant Research, a division of Navigant Consulting Inc.’s global energy practice. The report said smart-grid technologies still constitute an immature market but already total $33 billion in annual revenue. A smart grid delivers electricity from suppliers to consumers using digital technology with two-way communications to control appliances to reduce energy consumption. Key drivers in the sector include the integration of renewable-energy sources in developed economies and the reduction of nontechnical losses in less-developed economies.
Boulder-based Only Natural Pet Store LLC has raised nearly $900,000 of a planned $4 million in an equity offering, according to a recent regulatory document filed with the U.S. Securities and Exchange Commission. The online pet store in August launched its “I and love and you” brand of 55 natural pet products into 26 Whole Foods Market stores in the region. The product line includes pet food, treats, vitamins and nutritional supplements, grooming care, and flea and tick protection.
The unemployment rate in Boulder County remained steady in January, and the rate in Broomfield County dropped one-tenth of a percentage point, according to the Colorado Department of Labor and Employment. The rate in Boulder County remained at 5.5 percent compared with December, and was one percentage point lower than January a year ago. In Broomfield County, the rate dropped from 6.6 percent in December to 6.5 percent in January. The rate was 7.3 percent in January a year ago. Both counties outperformed the state, which had a 7.3 percent unemployment rate, down from 7.5 percent in December. February figures for Colorado will be released March 29.
The city of Longmont’s sales- and use-tax collections increased 10.1 percent in February, compared with the same period a year ago. Longmont collected $3,935,076 in February, compared with $2,573,058 in February 2011. The collection in February represents sales made in January. The sales-tax component of collections increased by 11 percent from the same month the year before, and the use-tax component increased by 4.4 percent. City lodging-tax revenue increased 18.8 percent, with $19,327 collected in February, compared with $16,268 collected for the same period a year ago.
The University of Colorado Cancer Center has been added to the National Comprehensive Cancer Network, a not-for-profit group of 23 top cancer hospitals. NCCN clinical practice guidelines in oncology, used as the standard of care for oncology patients, are developed through a rigorous review of the evidence integrated with expert medical judgment and recommendations by multidisciplinary panels from NCCN member institutions.
Longmont-based data-storage firm Dot Hill Systems Corp. (Nasdaq: HILL) reported a loss of $5 million for the fourth quarter and a loss of $14.9 million for the year ended Dec. 31. Dot Hill reported revenue of $44.1 million for the fourth quarter compared with $47 million for the same period a year ago, and revenue of $194.9 million for 2012, compared with $197.5 million for 2011.
Louisville-based Gaiam Inc. (Nasdaq: GAIA) reported a loss of $12.9 million for 2012 despite ending the year strongly with revenue of $66.7 million and $1.6 million in income for the fourth quarter ended Dec. 31.Gaiam, a producer and marketer of lifestyle media and fitness accessories, posted revenue of $202 million for the year, an increase of 22 percent compared with $165 million in 2011. The amounts do not include Gaiam’s subsidiary Real Goods Solar Inc. (Nasdaq: RSOL).
UQM Technologies Inc. in Longmont signed a three-year contract to supply South-Carolina-based Proterra Inc. with electric propulsion systems to power battery-electric buses. Terms of the deal were not disclosed. The new agreement expands the volume of systems that UQM will provide Proterra for its EcoRide BE35 battery-electric buses. Shipments to Proterra under the agreement are currently under way.
Intelligent Power & Energy Research Corp. selected Boulder-based Workshop8 to design the interior of its new office and research space at 4321 Mulligan Drive, Longmont. Joseph Vigil will serve has project architect and Ulla Lange will provide interior design services. Narvaes Western Construction will be the general contractor.
Array BioPharma Inc. (Nasdaq: ARRY) in Boulder will collaborate with Global Blood Therapeutics Inc. in San Francisco to identify small-molecule compounds that could be used in drugs to treat chronic blood-based diseases. Terms of the deal were not disclosed. Array will screen its library of 300,000 small molecules to identify compounds of certain Global Blood targets. A target is the naturally existing cellular or molecular structure that the drug in development is meant to act on.
Broomfield-based Level 3 Communications Inc. (NYSE: LVLT) is partnering with VEVO LLC, the developer of streaming media apps and a website used to deliver music videos and premium content, in the launch of VEVO TV, an always-on, TV broadcast-style music video channel that delivers 24-hour programming. Level 3 will provide the content delivery network that will be used to stream media to computers, mobile devices, televisions and gaming platforms.
USA Ultimate, the nonprofit, Boulder-based national governing body for the sport of ultimate in the United States, reached a multiyear agreement with ESPN for the cable sports networks to carry the sport’s major events. Financial terms of the agreement were not disclosed. ESPN will produce and distribute live coverage of the sport’s college championships, U.S. Open and national championships on ESPN3, which can be viewed on many cable and satellite systems as well as on WatchESPN.com, the WatchESPN app for smartphones and tablets, and through Xbox Live.
Boulder-based woman-owned company First RF Corp. s received a contract for up to $24.9 million over a six-year period to make and sell radio-frequency antenna systems to the U.S. military. The U.S. Air Force Research Laboratory in Rome, New York, is the contractor. The contract was made through the Small Business Innovation Research program to research, develop, test, evaluate and deploy advanced radio frequency systems.
Calgary, Aberta-based Splice Software Inc. will incorporate Boulder-based Radish Systems LLC’s Choiceview technology into Splice Software’s communication services. Choiceview allows visual information to be shared during a phone call made on a smart mobile device. Financial terms of the partnership were not disclosed.
MERGERS & ACQUISITIONS
Boulder-based ASD Inc. was acquired by Spectris plc (LSE: SXS) for $14 million. The acquisition was completed Jan. 31. ASD becomes Spectris’ NIR Excellence Center. A contingent consideration of up to $19 million may become payable to the sellers, based on achieving growth in sales targets for the 36-month period ending Dec. 31, 2015.
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