Regional Report Triad December 2012
Health systems are a go
The Triad recently became the only region with five of the state’s 10 largest health systems after Carolinas HealthCare System and UNC Health Care made inroads there. Cone Health signed a 10-year management deal with Carolinas HealthCare, and High Point Regional Health System will join UNC Health’s network next year. They join — in addition to Cone — Novant Health and Wake Forest Baptist Health as members of the state’s “Big 10” in the Triad. Cone will stay independent, but UNC Health will control High Point Regional’s board in return for $150 million in capital improvements and a $50 million community-health fund. Only three of the region’s largest hospitals remain independent.
— Branches Winston-Salem-based BB&T Corp. plans to open in Texas, doubling the bank’s presence in the Lone Star State. All will be in the Dallas, Austin, Houston and San Antonio markets and represent a $40 million investment. Most will open next year.
GREENSBORO — TIMCO Aviation Services purchased the Cincinnati-Northern Kentucky International Airport assets of Tampa, Fla.-based PEMCO World Air Services in October for an undisclosed amount. TIMCO will expand operations there, investing $3.4 million and adding more than 120 to the workforce of 44. It will offer maintenance and repair services to aircraft operators.
ELKIN — Yadkin Valley Financial raised $45 million through a private stock offering to investors and bank officials. The company will use the money to move troubled loans and assets off its books.
WINSTON-SALEM — Primo Water signed a three-year distribution and licensing agreement for its sparkling-beverage products with Cuisinart. The Stamford, Conn.-based maker of kitchen appliances will market and sell Primo’s Flavorstation and Liberty models, which carbonate water. Financial terms of the deal were not disclosed.
GREENSBORO — RF Micro Devices will purchase Amalfi Semiconductor for $47.5 million. The Los Gatos, Calif.-based company makes radio-frequency semiconductors that help power smart phones and other cellular products.
HIGH POINT — Canada-based Patheon purchased Banner Pharmacaps from its Netherlands-based parent VION for $255 million. Banner specializes in developing soft-gel pills.
WINSTON-SALEM — The N.C. Court of Appeals ruled against Novant Health, saying the N.C. Department of Health and Human Services properly awarded a certificate of need to Wake Forest Baptist Health to build a $38.7 million ambulatory-surgical center near its main campus here.
WINSTON-SALEM — Targacept will delay releasing clinical-trial results for treatments it is developing for schizophrenia and Alzheimer’s patients. The schizophrenia drug’s results are now expected in the fourth quarter of 2013, and the Alzheimer’s drug’s results are expected in mid-2014.