Triangle

American Underground to double space in downtown Durham

July 25, 2014

(WRAL TechWire)

American Underground, which operates three business incubators in the Triangle area, will double the size of its downtown Durham location, creating space for 50 additional startups. 

Eshelman resigns from UNC Board of Governors

July 25, 2014

(StarNews, Wilmington)

Fred Eshelman resigned from the UNC Board of Governors a year before his term was set to expire. Eshelman founded Wilmington-based PPD and Morrisville-based Furiex Pharmaceuticals, which was acquired by Dublin-based Actavis on July 2 for $1.1 billion.

PowerSecure gains new contracts totaling $140 million

July 24, 2014

(The News & Observer, Raleigh)

PowerSecure International announced contracts totaling $140 million, including $120 million of utility-scale solar projects. The Wake Forest-based company provides technology products and services to electric utilities. Its stock rose 12% on Wednesday.

Raleigh earns top spot on Forbes' list of best places for business

July 24, 2014

(The News & Observer, Raleigh)

Raleigh is No. 1 on Forbes magazine's list of best places for business and careers, up from the third spot last year. The city's high number of college-educated residents, proximity to Research Triangle Park and fewer regulations for small businesses were listed as reasons for earning the top spot.

VantageSouth, Yadkin post strong second quarter results

July 24, 2014

(The News & Observer, Raleigh)

Statesville-based Yadkin Bank and Raleigh-based VantageSouth Bank both posted gains in net income for the second quarter, with VantageSouth reporting a 67% increase from a year ago. The banks have a combined 74 branches after completing a merger on July 4. Combined, the two banks would have generated operating income of $15.5 million, excluding taxes and merger costs.

Zipper maker expanding in Oxford

July 23, 2014

(The News & Observer, Raleigh)

Ideal Fastener Corp. will invest more than $5.7 million in its Granville County plant and will add 155 jobs over five years. The second-largest zipper manufacturer in the world, Ideal employs 226 at its manufacturing headquarters in Oxford.

Morrisville's Gentris acquired by Cancer Genetics

July 23, 2014

(The News & Observer, Raleigh)

Rutherford, N.J.-based Cancer Genetics completed its $6.25 million acquisition of Gentris Corp. The Morrisville-based company works with pharmaceutical companies to integrate pharmacogenomics into clinical trials. Gentris' 40 employees will keep their jobs.

UNC Health Care poised for rebound in 2015

July 22, 2014

(The Herald-Sun, Durham)

The UNC Health Care board of directors expects the system will post a profit of $104 million for fiscal 2015. The hospital system, which includes eight medical centers, has projected a loss of $12.2 million for fiscal 2014, largely due to its investment in a new electronic health record system.

GE adding 60 jobs at Mebane plant

July 22, 2014

(The News & Observer, Raleigh)

GE Industrial Solutions will add a new production line and create 60 new jobs by the end of 2015 at its Mebane plant, where it employs more than 500. Fairfield, Conn.-based General Electric employs more than 4,850 across North Carolina.

State Rep. Jim Fulghum dies at 70

July 21, 2014

(The News & Observer, Raleigh)

North Carolina Rep. Jim Fulghum, 70, died Saturday. The Wake County Republican was diagnosed with metastatic esophageal cancer three weeks before his death. A retired neurosurgeon, the Raleigh native was first elected to the House in 2012.

Another weak quarter for Triangle venture capital funding

July 18, 2014

(The News & Observer, Raleigh)

Eight Triangle startups raised $22 million in venture capital in the second quarter, the lowest amount in two years. Raleigh-based Valencell, which makes wearable technology devices to monitor health data, raised the most with $7 million.

Salix drug gets FDA approval

July 18, 2014

(The News & Observer, Raleigh)

The Food and Drug Administration has approved a drug co-developed by Salix Pharmaceuticals for the treatment of swelling of the skin similar to hives. Salix has said annual sales of Ruconest could reach $87 million.

Merz Pharma moving North American headquarters to Raleigh

July 17, 2014

(The News & Observer, Raleigh)

Merz Pharma will move its North American headquarters from High Point to Raleigh. The German company, which makes skin-care products for the treatment of fungal infections, wrinkles and scars, employs 193 in High Point. It expects to add about 50 jobs.

Boy treated with Chimerix drug going home

July 17, 2014

(The News & Observer, Raleigh)

An 8-year-old boy who received an experimental antiviral drug from Durham-based Chimerix was scheduled to be released from St. Jude's Children's Hospital on Wednesday. Josh Hardy's family led a social-media campaign to convince the drug developer to give him the drug, which had not been approved by the FDA.

FirstHealth seeks to expand in Moore County

July 16, 2014

(The Fayetteville Observer)

FirstHealth of the Carolinas is seeking approval for a $15.3 million expansion that would add 25 beds to the 312-bed medical center in Moore County. According to an application filed with the Department of Health and Human Services, the addition would be completed by October 2016.

Cary-based CRO to merge with Chiltern

July 16, 2014

(Greater Wilmington Business Journal)

United Kingdom-based Chiltern, a contract research organization with operations in Wilmington, will acquire Cary-based Ockham, which employs 400 worldwide. 

Vermont company acquires Raleigh's Gamila Products

July 16, 2014

(The News & Observer, Raleigh)

Raleigh-based Gamila products was acquired by Vermont-based Seventh Generation, which sells environmentally friendly household and personal-care products. Gamila sells products for brewing single-servings of coffee and tea.

IT company could bring 1,200 jobs to Cary

July 15, 2014

(The News & Observer, Raleigh)

North Carolina is offering more than $17 million in incentives to lure a technology and engineering company to Cary. The unidentified company would create 1,237 jobs over three years.

Johnston Community College opts out of federal student loans

July 15, 2014

(Smithfield Herald)

Students at Johnston Community College can no longer receive student loans from the federal government. The school opted out of the program due to a rising default rate that could jeopardize its federal funding.

WakeMed, UNC Hospitals face penalties under new Medicare rating system

July 15, 2014

(The News & Observer, Raleigh)

Raleigh's WakeMed and Chapel Hill's UNC Hospitals could face millions of dollars in penalties under the Affordable Care Act. The hospitals are among 16 in North Carolina that Medicare has listed as the "worst-performing" regarding patient complications and infections.