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 - 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
LANSING — The Michigan Supreme Court on Friday denied an appeal from big box retailer Menard Inc., effectively ending the so-called “dark store” practice of property valuation in the state. In an order handed down today, the state’s Supreme Court denied Menard Inc.’s request for an appeal in its lawsuit against the city of Escanaba because the justices
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,
JACKSON - Small, independently owned power plants across Michigan are locked in a battle with Jackson-based Consumers Energy over what may very well decide their fate. In a rate case before the Michigan Public Service Commission that’s expected to be settled in mid July, state regulators are setting a new course for how these independently owned facilities
ALBION — Patriot Solar Group LLC of Albion on Monday filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan. The Southwest Michigan company manufactures solar panel tracking systems, pole-mounted solar systems and other solar energy related products. Patriot Solar, which was formed in 2009 and is based at 1007 Industrial
DETROIT - Despite the rapid expansion of Michigan farmland dedicated to growing hops and grains for the state’s craft beverage sector, experts say the industry has more room to grow. A new Michigan State University Product Center study examines the potential economic impact for Michigan craft breweries to produce beer exclusively with in-state ingredients. It
GRAND RAPIDS - Software developer Blue Medora LLC raised nearly $7.5 million in capital in what one expert calls a “tough,” but “good” environment for companies seeking investors. The investment is part of an effort by the Grand Rapids-based company, which focuses on cloud system management, to raise up to $10 million in capital. Blue Medora
