Triangle

Novant to close Franklin Medical Center next week

October 8, 2015

(WRAL.com)

Franklin Medical Center stopped admitting patients at 6 p.m. Wednesday, though the emergency room will remain open until Oct.16. About 140 employees will lose their jobs. Novant Health had eliminated most inpatient care at the Louisburg hospital a year ago, reducing inpatient beds to 15 from 70.

Netsertive raises $15 million for expansion

October 8, 2015

(The News & Observer, Raleigh)

Morrisville-based Netsertive raised $15 million in a financing led by Cincinnati-based River Cities Capital Funds. The digital advertising company, founded in 2009, expects to add at least 50 employees to its 200 over the next 12 months.

Triangle scientists win Nobel Prize in chemistry

October 7, 2015

(WRAL TechWire)

A trio of scientists that includes professors at Duke University School of Medicine and UNC School of Medicine were awarded the Nobel Prize in chemistry for DNA work that can be used to develop cancer treatments.

Carlyle Group CEO gives $25M for Duke arts center

October 6, 2015

(The News & Observer, Raleigh)

David Rubenstein, co-founder of Washington, D.C.-based investment firm The Carlyle Group, will give $25 million to Duke University for a new arts building. The 71,000-square-foot building, which has an overall price tag of $50 million, will include theaters, studios, offices and classrooms. A 1970 Duke graduate, Rubenstein is chairman of the university's board of trustees.

Morrisville medical-device company to be bought for $149M

October 6, 2015

(The News & Observer, Raleigh)

Ohio-base AtriCure will acquire privately held nContact in a cash and stock deal valued at up to $149 million. Both companies are developing treatments for atrial fibrillation, an irregular heart rate that can cause poor blood flow and lead to complications including stroke.

Tennessee bank completes purchase of Raleigh's TrustAtlantic Bank

October 6, 2015

(Winston-Salem Journal)

Memphis-based First Horizon National, the parent company of First Tennessee Bank, has completed its $80 million acquisition of Raleigh-based TrustAtlantic Financial. TrustAtlantic's five branches will operate as First Tennessee Bank beginning Oct. 19.

LIfe-sciences boom lifts Triangle real-estate market

October 5, 2015

(The News & Observer, Raleigh)

The Triangle real-estate market is getting a boost from life-sciences companies establishing offices or moving to be near other related businesses. While a recent JLL study showed rents for life-sciences companies have increased 12.4% compared with last year, costs are still far less than other life-sciences hubs such as Boston and San Francisco.

Local officials, execs tout RTP modernization

October 2, 2015

(The News & Observer, Raleigh)

Research Triangle Park's ambitious redevelopment project is finally getting off the ground thanks to $50 million in financing, including $20 million from Durham County. Business leaders say it will be an economic engine for the area and provide the kind of work/live space attractive to tech companies and millennials.

RTP redevelopment project to begin Jan. 1

October 1, 2015

(The News & Observer, Raleigh)

The Research Triangle Foundation will begin the first phase of redevelopment of its 50-acre Park Center Jan. 1. Build out of the first phase, which will include a 5,000-seat amphitheater and has sites for hotels, offices and apartments, is expected to take 7 to 10 years.

Raleigh's Highwoods invests $427M in Atlanta, Tampa properties

October 1, 2015

(The News & Observer, Raleigh)

Highwoods Properties will pay $303 million for a two-building office complex in Atlanta's Buckhead area and $124 million for the 35-story SunTrust Financial Center in downtown Tampa. The Raleigh-based REIT also plans to sell a retail and office complex in Kansas City.

Durham County will invest $20M in RTP's modernization

September 29, 2015

(The News & Observer, Raleigh)

Durham County commissioners approved spending up to $20 million to help pay for the redevelopment of RTP's Park Center. Plans call for adding 600 apartments, 1 million square feet of office space, hotels and retail space. The county funding will help pay for infrastructure, parking and public parks.

Novo Nordisk gains FDA approval for diabetes drugs

September 29, 2015

(WRAL TechWire)

Shares of Novo Nordisk rose Monday after the company received FDA approval for two diabetes treatments. The Danish drugmaker employs 720 people at a manufacturing plant in Johnston County and recently announced plans for an expansion that will create 691 new jobs over five years.

Raleigh food truck wins Food Network title

September 28, 2015

(WRAL.com)

A Raleigh's Pho Nomenal Dumpling was named "Best Food Truck in America" on the Sunday night finale of the Food Network's "Great Food Truck Race." The Pho Nomenal team said they plan to use the $50,000 prize to open a brick-and-mortar location.

Delta adding nonstop flight from RDU to Paris

September 25, 2015

(The News & Observer, Raleigh)

Delta Air Lines will offer daily nonstop flights from RDU to Paris beginning in May, enabling passengers to catch connecting flights to more than 75 European destinations. It's the second nonstop route from RDU to Europe; American Airlines offers daily flights to London.

GSK spinoff acquired by Boston biotech firm

September 25, 2015

(The News & Observer, Raleigh)

Phoundry Pharmaceuticals, which was started seven months ago by a group of former GlaxoSmithKline researchers, was acquired by Boston-based Intarcia for an undisclosed amount. RTP-based Phoundry develops peptides for the treatment of diabetes.
Read how GSK's move to slim down R&D operations is spawning new Triangle life-sciences companies in BNC's September cover story.

Durham approves $5.25M incentive for innovation district

September 25, 2015

(The News & Observer, Raleigh)

The Durham City Council approved $5.25 million in incentives to help fund the $87 million first phase of a 15-acre innovation district being developed by Boston-based Longfellow Real Estate Partners and Durham-based Measurement Inc. The first of three project phases is expected to generate 850 jobs.

Report: Citrix looking for a buyer

September 24, 2015

(The News & Observer, Raleigh)

Citrix Systems said in July it was considering a sale or spinoff of its GoTo business, which includes GoToMeeting. The business software company, which has a market cap of $11.6 billion, now appears to be seeking a buyer for its entire business, according to a Reuters report. Citrix employs about 600 people in Raleigh.

Deutsche Bank adding 250 jobs at Cary technology center

September 23, 2015

(WRAL TechWire)

Deutsche Bank will add 250 jobs with an average annual salary of $85,600 and invest $9 million by the end of 2016 at its Cary campus. The new jobs will include technology engineers, software developers and analysts. The financial-services company currently employs 600 people in the Triangle.

TransEnterix buys Italian robotics business for $99.8M

September 23, 2015

(The News & Observer, Raleigh)

Morrisville medical-device maker TransEnterix has acquired the surgical robotics division of an Italian health care company in a deal valued at $99.8 million.

Longfellow completes $118M purchase of Durham office park

September 22, 2015

(WRAL TechWire)

Longfellow Real Estate Partners paid $117.7 million for 11 buildings at Keystone Technology Park in Durham, boosting the Boston-based real-estate investor's North Carolina portfolio to more than 1.2 million square feet. Longfellow is also developing a 1.7 million-square-foot innovation district in downtown Durham.