Business

Changes ahead at Port of Wilmington

May 16, 2016

(StarNews, Wilmington)

An Asian carrier is consolidating its twice-weekly call at Port of Wilmington into a single run using a larger ship. Any lost traffic will be made up with a new run to and from Mexico with European carrier Maersk, says Greg Fennell, chief commercial officer of the N.C. State Ports Authority.

RTP drug developer brings in $47 in new funding

May 13, 2016

(Xconomy.com)

G1 Therapeutics, a spinout from UNC Chapel Hill, has raised $47 million to advance clinical studies of a treatment for small cell lung cancer and to begin clinical trials of a treatment for breast cancer. The funding was led by Boston-based Cormorant Asset Management, one of several new investors, and included existing investors Eshelman Ventures and Hatteras Venture Partners. G1 has raised $93 million since 2012.

Delta Apparel cutting 160 jobs, closing Maiden plant

May 13, 2016

(MarketWatch.com)

Delta Apparel, the Greenville, S.C.-based company whose brands include Soffe and Salt Life, is shuttering its textile manufacturing plant in Maiden where it employs 160 people. The company is moving production to a facility in Honduras.

Battle against Duke Energy gas plant could cost $10 million

May 13, 2016

(Asheville Citizen-Times)

Two environmental groups could have to pay $10 million if they appeal the state Utilities Commission's approval of Duke Energy's proposed $1 billion plan to convert its Asheville-area power plant from coal to natural gas and lose the case. The utility argued for a higher bond, claiming delays related to an appeal could cost the company and its customers as much as $240 million.

Health care consultant adding 120 jobs in Huntersville

May 13, 2016

(The Charlotte Observer)

Ensemble Health Partners is expanding in Huntersville, moving to a larger office and adding 120 jobs this summer. The company started two years ago with four employees. Ensemble provides revenue cycle consulting and support services.

Wilmington's Charlies Graingers lands franchise agreement

May 13, 2016

(Greater Wilmington Business Journal)

Charlies Graingers Hot Dogs, Brisket and BBQ signed an agreement with Disabella Partners to develop 107 restaurants in the Carolinas. Disabella's first location will open May 19 in Ocean Isle Beach. Wilmington-based Charlie Graingers is a fast-casual restaurant that serves hot dogs and sandwiches.

Charlotte's Frontier Capital invests $31M in California software company

May 13, 2016

Charlotte-based private-equity firm Frontier Capital is investing $31 million in Zephyr, a Newark, Calif.-based software company. Zephyr's products are used in the finance, health care, media and automotive industries. Frontier closed on its fourth fund last year, raising $390 million. The firm invests in high-growth technology companies with $5 million to $30 million in revenue.

Transenterix slashes jobs after FDA rejects surgical robot

May 12, 2016

(The News & Observer, Raleigh)

TransEnterix laid off about a third of the workforce at its Morrisville headquarters following the FDA's rejection last month of its SurgiBot system. The 10-year-old company is now shifting its focus to a second robot for general surgery, the ALF-X, which it acquired last year for $100 million. TransEnterix is seeking to develop and market an alternative to the da Vinci system, a surgical robot that has dominated the field for the last 15 years.

Novant ends talks to buy Savannah hospital

May 12, 2016

(Winston-Salem Journal)

Novant Health has ended negotiations to purchase the 622-bed Memorial Hospital in Savannah, Ga. Winston-Salem-based Novant planned to invest $295 million in improvements at the hospital, where it has has been involved since 2012 through a shared-services agreement. CEO Carl Armato said talks broke down when the Chatham County (Ga.) Hospital Authority became "directly involved."

Raleigh's Republic Wireless adds Samsung phones, new cellular network

May 12, 2016

(The News & Observer, Raleigh)

Republic Wireless will expand the line of products available to customers of its low-cost phone service to include Samsung Galaxy and Google Nexus. The company, a spinoff of Bandwidth.com, uses Wi-Fi as its primary network. Raleigh-based Republic is also adding a second cellular partner (it currently partners with Sprint), though the company won't say who it is. Bloomberg and other media identified the carrier as T-Mobile.