GRAND RAPIDS — Spectrum Health has committed $7.5 million to a new Chicago-based venture capital fund that backs emerging heath care technologies. The commitment to invest $2.5 million annually over three years into 7wire Ventures’ Connected Consumer Health Fund comes from Spectrum Health Ventures LLC, the $100 million venture capital fund the health system formed in early 2017. By investing
GRAND RAPIDS - Despite steel and aluminum tariffs, West Michigan’s economy continues to grow a new report from Grand Valley State University contends. Brian Long, director of supply chain management research at GVSU’s Seidman College of Business, said his survey of purchasing managers index tick up by two points over the previous month to 34,
HOLLAND - A West Michigan venture capital firm closed last week on $7.2 million of the $10 million it seeks to raise to invest in health care startups. Formed last fall by Genesis Innovation Group LLC, a developer of emerging medical device technologies, cultivate(MD) Capital Fund GP LLC netted investments from about 50 individual investors. Many investors are
GRAND RAPIDS - North American light vehicle sales should dip this year to around 17.1 million units, breaking a streak of seven consecutive year-over-year gains, according to Mike Wall of IHS Markit. But while he expects the market to contract further to around 16.9 million units next year, Wall believes the automotive supply chain is positioned
ANN ARBOR - A software company that wants to use artificial intelligence to take workplace wellness has closed on a $4.5 million capital round that the company said will accelerate product upgrades and support sales and marketing. The capital round for Jool Health Inc. was led by CVC Jool Investors LLC, a corporate entity based in
GRAND RAPIDS - Michigan’s economy should remain in good shape for the foreseeable future, according to results of a semi-annual survey PNC Bank conducts with small and medium-sized business owners. Among respondents, 56 percent said they expect their company’s sales to increase in the next six months and nearly one-quarter expect to hire more full-time employees. The
GRAND RAPIDS — The new Grand Rapids Research Center opens this week, anchoring the western end of the city’s Medical Mile cluster of education, health care and research institutions and elevating Michigan State University’s role in biomedicine. The $88.1 million facility initially will house 18 research teams that will relocate from the nearby Van Andel Research Institute. The
GRAND RAPIDS - Private equity investors have more capital to deploy today than they have in years. Statistics from Seattle, Wash.-based Pitchbook show fundraising activity for private equity funds in North America and Europe reached its highest level in a decade, at $212.6 billion through Aug. 1. Meanwhile, a report from the American Investment Council,
DETROIT - Honigman Miller Schwartz and Cohn LLP recently launched a formal practice group focusing on the rapidly growing autonomous vehicle industry. The firm, which maintains offices in Grand Rapids, Kalamazoo and Lansing, recently hired Steve Wernikoff to co-chair the practice with Tom Appledorn, a partner in the firm’s intellectual property group. Wernikoff formerly served
GRAND RAPIDS — Two advertising services companies have joined forces in a bid to create a “one-stop shopping” experience for their clients. Digital advertising services provider Adtegrity.com Inc. has acquired Media Place Partners LLC, an East Grand Rapids-based media buyer, executives at the companies confirmed to MiBiz. Principals at the two firms say the deal, which closed June 30,
