Industry Briefs are provided as a free service to our readers. Company news information may be sent to brice@slenterprise.com. The submission deadline is one week before publication.
CONTESTS
• The Economic Development Corporation of Utah is accepting nominations through June 19 for its annual EDCUtah Economic Development Awards. The organization each year celebrates the people and organizations that have made an impact on the economic landscape of Utah. The awards will be presented the EDCUtah’s annual meeting Sept. 22. Awards are presented in the following categories: Nick Rose Award for Leadership in Economic Development, given to a private-sector individual that has demonstrated exceptional dedication to EDCUtah and economic development throughout the state; the Thayne Robson Award for Leadership in Economic Development, given to a public-sector individual for the same attributes; and the Larry H. & Gail Miller Family Cornerstone in Economic Development Award, given to associations, organizations or developments “that have merit far beyond their own boundaries and have had profound and long-term positive impact on the state’s economy.” Details are at edcutah.org, under the “News” tab.
ECONOMIC INDICATORS
• Highland leads Utah locations on a list of “Places That Are Most Tax-Friendly for Retirees,” compiled by financial technology company SmartAsset. The company analyzed sales, property, income, fuel and Social Security tax data to rank locations on how friendly they are for retirees. Highland was followed, in order, by Summit Park, Enoch, Snyderville, Cedar Hills, St. George, Nibley, Heber, Bluffdale and North Logan. Details are at https://smartasset.com/retirement/utah-retirement-taxes#utah.
EDUCATION/TRAINING
• Western Governors University, Salt Lake City, has appointed Carol D’Amico and Robert Frankenberg as directors of the Board of Trustees for WGU Advancement, the university’s official fundraising arm. D’Amico is the executive vice president of national engagement and philanthropy at Indianapolis-based Strada Education Network. Prior to Strada, D’Amico served in the U.S. Department of Education as assistant secretary for adult and vocational education. Frankenberg has extensive experience in business and operations, computer software, and technology. He started at Hewlett-Packard in 1969, and during his tenure of more than 20 years, earned the position of vice president and group general manager of personal information products before leaving to serve as chairman and CEO of Novell. He also founded NetVentures, a management consulting and private investment firm.
• WGU Labs, an affiliate of online nonprofit Western Governors University, Salt Lake City, has received a planning grant from the Bill & Melinda Gates Foundation to support research on access and outcomes for WGU’s students of color, ethnic minorities, low-income students, and other student populations historically underserved by higher education. With the grant funding, WGU Labs will create a plan for research and improvement of student equity at WGU. The project is known as the Equity Initiative at WGU. The first research report will be available in September, and subsequent reports will be published on a regular basis during each phase of the research. The project will be led by WGU Labs’ research scientist, Nicole Barbaro.
• As of May 24, Weber State University had awarded $930,483 to 2,633 students through federal Coronavirus Aid, Relief and Economic Security (CARES) Act funding. WSU has more than $5.8 million in CARES funding. The funding will provide financial support based on anticipated student need.
EXPANSIONS
• DoTerra, a Pleasant Grove-based essential oils and wellness products company, has selected Cork, Ireland, for its first manufacturing facility outside the United States. The 95,000-square-foot facility is set to become operational in September, is expected to employ up to 100 people over the next three years and will serve as the company’s European manufacturing headquarters. DoTerra has more than 3,500 employees worldwide.
HEALTHCARE
• ProLung Inc., a Salt Lake City-based company focused on multi-cancer screening technology, has changed its name to IONIQ Sciences Inc. and announced a fully subscribed private placement of $3.3 million. The company said the name change “reflects its mission to dramatically improve the cancer landscape with a modern solution for the early detection of multiple cancers thereby expanding the therapeutic window, significantly improving survivability, and reducing the cost of healthcare.” The company said it already had received about $3 million of the proceeds of the private placement and expects to receive the remaining $350,000 in June. The company said it will use the proceeds to finance operations and continue development and regulatory activities for its cancer predictive analytic technology.
• Elevar Therapeutics Inc., a Salt Lake City-based late-stage biopharmaceutical company focused on cancer treatment therapies, has named Dr. Mark Gelder as vice president of medical affairs. Gelder has 17 years of global medical affairs experience leading therapeutic oncology programs for companies including Pfizer, Wyeth and Bayer. He has also led successful global trials, launch plans and Phase I-IV studies for several emerging oncology organizations and has been instrumental in the approval and launch of numerous oncology products. Prior to joining the industry, Gelder was an investigator in multiple clinical trials.
• Valley Behavioral Health, a Salt Lake City-based behavioral health service provider in Utah, has hired Preston Cochrane as operations director. Cochrane most recently was the executive director at Shelter the Homeless and also has held executive-level positions at American Research Bureau and AAA Fair Credit Foundation. He earned a Bachelor of Science degree from the University of Utah.
INVESTMENT
• Red Door Capital Partners LLC, a Salt Lake City-based independent private equity firm founded last year, has announced it will begin rolling out investment opportunities to a network of individual accredited investors. Red Door secures partnerships with company founders seeking to build collaborative relationships, deploy strategic oversight, and implement investing governance for private funding projects. Red Door is often able to invest side-by-side with institutional funds and family offices where negotiated terms and safeguards are typically provided only to institutional investors.
MANUFACTURING
• Sarcos Robotics, a company focused on producing robots that augment humans to enhance productivity and safety, has added three people to its leadership team. Denis Garagić has been hired as chief scientist, Jim Ryder has been appointed as executive vice president and chief revenue officer, and Tom Jackson has been promoted to executive vice president and general manager of wholly owned subsidiary Sarcos Defense. Both companies are based in Salt Lake City. Garagić will be responsible for advancing the company’s innovative control strategies, intelligent algorithms and machine learning technologies. He has more than 25 years of expertise in AI and machine learning, most recently serving as chief scientist at BAE Systems FAST Labs. Ryder will be responsible for growing commercial revenue streams, with a key focus on the company’s Guardian XO full-body, powered exoskeleton. Ryder has more than 20 years of experience as a sales, marketing and operations executive for various technology businesses, including Essen Bioscience; the Advanced Microscopy Group; Clearwire Corp.; and Nextel Partners Inc., where he served as chief operating officer. Jackson has been with Sarcos since April 2019 and previously served as vice president of defense and public safety. He is a retired U.S. Marine Corps lieutenant colonel and a 20-year defense, aerospace and energy industry veteran. Prior to joining Sarcos, Jackson was vice president and general manager of Aeryon Defense USA Inc.
• Merit Medical Systems Inc., a South Jordan-based manufacturer and marketer of disposable medical devices, has reached an agreement with Starboard Value LP, a New York-based investment advisor that owns about 8.7 percent of Merit’s outstanding common stock, and its affiliates. Pursuant to the agreement, Merit has nominated three new independent directors — Lonny Carpenter, David Floyd and James T. Hogan — for election to the Merit board of directors at the company’s upcoming 2020 annual meeting of shareholders, scheduled for June 22. Carpenter served nearly 30 years in various roles at Stryker Corp. Prior to Stryker, he served in the United States Army where he rose to the rank of captain. He serves on the boards of Novanta Inc. and to privately held companies: The Boler Co. and Orchid Orthopedics Solutions. Floyd serves on the board of directors of NN Inc. and Healthcare Outcomes Performance Co. and served as a member of the board of two privately held companies: Apos Therapy Ltd. and OrthoWorx. He also serves as an external advisor to Bain & Co. and GLG Institute. He previously was group president of Stryker Corp. and served in numerous senior leadership roles in several medical device companies, including as U.S. president and then worldwide president of the DePuy Orthopaedics Division (now DePuy Synthes). Hogan served in various roles at Medtronic plc and founded three medical device companies in the cardiology, urology and vascular fields. He serves as a director of ProLung Inc. and Xenocor Inc. and served as a consulting partner to BioConnexus. In connection with the new director nominations, Merit announced that Nolan E. Karras, Dr. David M. Liu and Lynne N. Ward will not stand for re-election at the 2020 annual meeting, and Dr. Franklin Miller will resign from the board not later than immediately following the meeting. Merit’s board intends to appoint Ward to fill the vacancy resulting from Miller’s resignation. Kent W. Stanger, a founder of Merit, has previously announced that he will not stand for re-election. Merit also said it will form a new Operating Committee. Carpenter, Floyd and Hogan and Fred P. Lampropoulos, Merit’s chairman and CEO, will serve as members of the committee, with Carpenter serving as chair.
MEDIA/MARKETING
• Max Connect Marketing, a Salt Lake City-based digital marketing agency, has hired Phil Case and Jeff Pearson. Case and Pearson have a combined 36 years of senior marketing and sales experience. Case most recently was managing partner of Fluid Advertising. His previous experience includes working with national and regional brands. In 2018, he helped launch the Utah Outdoor Association (UOA) to support the outdoor industry in Utah. He also took an international cancer screening company, Anpac Bio-medical Science, public on the NASDAQ Exchange earlier this year, raising over $17 million in capital as part of the IPO. Pearson joins Max Connect from Zimmerman Advertising, where he was chief client officer. He also has experience as an in-house marketing executive at companies including Lids Sport Group, hhgregg and Whirlpool. His retail experience also includes new store openings, product launches and social campaigns.
PHILANTHROPY
• Facebook, which has a data center in Eagle Mountain, is donating more than $1 million to local schools, small businesses and nonprofit organizations to provide relief from the impacts of the COVID-10 pandemic. The total includes $100,000 through the Facebook Small Business Grants Program, $582,000 to Alpine School District, $200,000 to small businesses through the Eagle Mountain Chamber of Commerce, $50,000 to nonprofits through the United Way of Utah County, $50,000 to Tabitha’s Way food pantry, and an additional $25,000 of funds to be determined.
• Streamline Manufacturing, Lindon, has donated 3,000 gallons of hand sanitizer to the Navajo Strong initiative. Most of the Navajo Nation, with a population of 300,000 that spans an area the size of West Virginia, lacks running water, which makes basic sanitation extremely difficult.
• Amazon has donated $25,000 to Utah Food Bank to help during the COVID-19 pandemic. As a result of schools, restaurants, travel and hospitality industry closings, Utah Food Bank is seeing a sharp increase in demand for their services. The organization predicts that meeting the need will cost an additional $6.5 million during the next 12-18 months. Amazon also has donated $25,000 to United Way of Salt Lake as part of the organization’s 10th annual “Stuff the Bus” supply drive to provide more than 10,000 children with school supplies. UWSL is urging volunteers to get involved by hosting a virtual “Stuff the Bus” supply drive with coworkers, church groups or through community centers. Online donations will help purchase the necessary supplies to stuff more than 3,000 backpacks to be distributed across Salt Lake Valley. Details are at uw.org/stuff-the-bus.
• The Sundt Foundation has donated $2,500 each to the Utah Food Bank and Shelter the Homeless to support the Salt Lake City nonprofits during the COVID-19 pandemic. The company will donate $200,000 in relief aid to more than 20 nonprofits its nine geographic markets, including two in Utah. The foundation also awarded $5,000 to Youth Futures during its second-quarter grants cycle. Sundt Construction Inc. has 11 offices throughout California, Arizona, Texas and Utah.
• KeyBank has released its 2019 Corporate Responsibility report, which shows that it has deployed over $407 million to low-to-moderate-income people and communities in Utah through three years of its Community Benefits Plan. The total includes more than $273 million in community developments, including projects that will provide affordable housing, revitalize and stabilize neighborhoods, and support vital community service initiatives, as well as $742,000 in philanthropic investments in neighbors and neighborhoods in Utah, including First Step House.
• Codeacademy, an online coding education platform, is offering 1,000 furloughed or unemployed Salt Lake City-area residents free access to its Pro platform to help them grow their skillset and give them access to new opportunities. It is part of a national effort to give 100,000 unemployed and furloughed workers free access to its education resources.
REAL ESTATE
• Monmouth Real Estate Investment Corp., based in New Jersey, has acquired a new, 69,734-square-foot industrial building at 985 W. Kershaw St., Ogden, for $12.9 million. The property is net-leased for 15 years to Federal Express Corp. The building sits on 7.52 acres. Monmouth’s portfolio consists of 118 properties, containing a total of approximately 23.4 million rentable square feet, in 31 states.
SPORTS
• Registration is open for the second annual Mountain Archery Fest, a family-friendly archery festival offers both competitive and recreational 3-D target shoots for all disciplines, genders, ages and abilities. The inaugural event took place in July 2019 at Purgatory Resort near Durango, Colorado, and Eagle Point near Beaver. It will take place again in Utah on June 26-28. It also will take place this summer in Mullan, Idaho; Durango; and Los Alamos, New Mexico.
TECHNOLOGY/LIFE SCIENCES
• Impartner, a Salt Lake City-based partner relationship management and channel management platform company, has appointed Perry Smith as vice president of engineering. Smith has extensive B2B software engineering management experience, including leading engineering teams that have built web, cloud, SaaS and enterprise applications. Before joining Impartner, Smith was senior vice president of engineering at RES and held vice president of engineering roles at various software companies, including McAfee, Kana Software, MicroWarehouse, Agilisys and Kewill.
• FatPipe Networks, a Salt Lake City-based company focus on SD-WAN technology, has selected Praveen Shinde as vice president of India sales. Shinde most recently was global head of data services for Reliance Communications Ltd. India. Prior to Reliance Communications, he worked for Bharti Airtel and Global Telesystems.