News Business Sports Entertainment Life Obituaries Opinion
Jobs Homes Cars Classifieds Shopping
Local Bloggers Cheap Tech Eco-Confessions Faceoff Furst Draft Heard on the Street Med City Movie Guy Pulse on Health Political Party

Search PB Blogs

Loading

Categories

115 posts categorized "Non-profits news"

September 05, 2014

RAEDI brings on Holmes to fill new marketing position

Preparing for the rollout of its regional five-year plan, Rochester Area Economic Development, Inc. has hired Heather Holmes to fill a new marketing position.

RAEDI announced the hiring of Holmes as vice president of marketing this week. Holmes, a long-time Rochester marketing professional, will start the new job on Sept. 15.

RAEDI President Gary Smith explained that his board decided to create the new marketing position to help with the introduction of the Journey To Growth economic plan that RAEDI and the Rochester Area Chamber of Commerce have been working on for the past year.
10654081_10204675785082933_99753887_n
A steering committee of 26 business leaders from Olmsted, Dodge and Wabasha counties has been working on the $150,000 project. The plan, which reaches beyond Mayo Clinic's Destination Medical Center intitiative into the region beyond Rochester, focuses on three major themes:  expanding and diversifying the economy, optimizing the regional talent base and developing a more cohesive and connected region.

Smith anticipates that the plan should be completed in the next few months, and said that Holmes will help introduce it to the area when it's ready.

"For the past couple of months, we've been doing a national and local search to fill this job," he said. "Heather's a good choice, because she knows who we are and believes in what we're doing."

Holmes comes to RAEDI from the Rochester software firm, Metafile. She also worked in marketing for KAAL-ABC 6 and Corporate Web Services.

"It is an exciting time for our great city, and I'm thrilled to have a front row seat. I can't wait to get started," Holmes said about her new role.

July 01, 2014

Mayo Clinic-linked Cardio3 making push into China

Cardio3 BioSciences, a Belgium company working closely with Mayo Clinic, recently launched a joint venture in China, the third largest pharmaceutical market in the world.

Cardiobioscience_jpegWorking with Hong Kong-based Medisun International Limited, it created Cardio3 BioSciences Asia Holdings Ltd. to make a serious push into China. As part of the deal, Medisun purchased $34 million in stock. It now owns 8 percent of the company's outstanding shares.

Cardio3 is publicly listed on the European stock markets NYSE Euronext Brussels and NYSE Euronext Paris, though it is not traded publicly in the U.S. Get_photo

The company says that $34 million will finance the U.S. clinical trials for C-Cure, Cardio3's regenerative heart treatment. Cardio3 CEO Dr. Christian Homsy flew to Rochester in January for a press conference at Mayo Clinic to announce that U.S. trial. Mayo Clinic in Rochester is one of the trial sites. Homsy gave a tentative time line of commercialization in Europe possibly by 2017 and by 2018 in the U.S.

Medisun has also committed to buy an additional $34 million shares of Cardio3 stock from existing shareholders in the next eight month at a price per share equivalent to the 10 days average preceding the offer.

This new deal means Medisun's ownership of Cardio3 has quickly leapfrogged Mayo Clinic's investment. As of June 16, Mayo Clinic owned 5.05 percent of the available shares of Cardio3. Medisun had just 4.21 percent at that point. As of June 25, Mayo Clinic controlled 3.1 percent of the shares.

Mayo Clinic researchers Dr. Andre Terzic and Dr. Atta Behfar originally developed the proprietary process of regenerating heart tissue with stem cells drawn from a patient's own bone marrow. Since 2007, Cardio3 has licensed patents and related research from Mayo Clinic. Terzic and Behfar each have a financial interest in the company.

Homsy has previously stated that he hopes to eventually base a few employees in Rochester for office and laboratory work. Cardio3 previously attempted to open a U.S. headquarters here, but that fizzled when the one person based here left.

Many consider what Cardio3 is attempting as the "holy grail" of cardiac treatments. Terzic previously described repairing faulty hearts as a "major unmet need worldwide." He estimated about one-third of all deaths stem from heart disease.

To date, the promising company has raised $121 million in equity and capital.

A recent study also estimated that the global market for such treatments could grow to $18.2 billion by 2019. The U.S. market was valued at $6.1 billion in 2012, with potential to increase to $8.49 billion by 2019.

“With this presence in Greater China, we are very proud to become the first global player in the field of cardiac regenerative medicines, aiming to commercialize our leading edge cell therapy to patients all across the globe,” stated Cardio Chairman Michel Lussier in the announcement of the venture.

Medisun Chairman Danny Wong says that his company is organizing medical conventions in August "to promote cell based medicines as well as Cardio3’s technology" in both Beijing and Shanghai.

"We are passionate about this project and I am certain that our involvement with Cardio3 as a leader in this field, combined with our local knowledge of the regulatory, healthcare and market access capabilities and expertise, will bring success to all the parties involved,” said Wong.

All the costs of Cardio3's moves in China will be funded by Medisun, with a minimum of $27 million committed during a three year period. Cardio 3 has 40 percent ownership in the joint venture, which will drop to 30 percent when clinical trials are up and running.

Success of the Phase III clinical trials that allow Cardio3 to market C-Cure in Asia would trigger  royalties ranging between 20 and 30 percent of net sales depending on total revenue of the joint venture.

June 09, 2014

Mayo Clinic eliminates 14 nurse positions in Rochester

Mayo Clinic eliminated 14 discharge planning nurse positions in Rochester on June 2 in an effort to improve efficiency.

800px-Gonda_building,_closer_up"To improve service to patients and eliminate duplication of effort, Mayo Clinic is shifting some of the discharge planning work to other resources," explained Spokesman Bryan L. Anderson of why the Rochester positions were cut.

Anderson said that all 14 nurses impacted by the change were "offered the opportunity to select other nursing roles at Mayo Clinic."

He added that, "Some opted to retire/leave Mayo."

Unlike last week's announcement about Mayo Clinic Health Systems eliminating 188 medical transcriptionist positions in Wisconsin by outsourcing with a Madison company, the planning nurse nurse duties will not move outside the clinic.

Anderson said the discharge planning work has been shifted to other "internal resources."

May 29, 2014

Second Salvation Army store to open

Rochester should have two Salvation Army thrift stores within a few months.

Work has started in a 1,400-square-foot space in the Slumberland Center at 4909 U.S. 52 North, along the frontage road, according to David Ferber, the local director of community engagement for the Salvation Army.

The space is being divided to set up a sales floor separated from the donation sorting area.

E06c662a-9cf7-4fa6-b6ed-565c49263db1The hope is to have it ready to open by late summer or more likely by early fall.

The Salvation Army is leasing the space from Lou Grimaldi, who owns Slumberland as well as the commercial space behind the store. It will be about half the size of the current south Rochester thrift store at 201 Ninth St. S.E., though it will offer the same mix of donated clothing, household goods, toys, books and more.

"We have been working on this for a while. We realized there was a need in Rochester for another store," Ferber said. "Our customers have told us that they want a northwest store."

He credited Grimaldi with helping to finally make this project a reality. While the location is not as visible as most traditional stores want, Ferber says it is a good fit for the Salvation Army.

"We're a destination. I think people will find us," he said.

The Salvation Army's thrift store always has been popular in Rochester, though it has been located in different spots.

Since 2006, the thrift store has been in its spot in the west end of the Kmart center. Its former building downtown now is used for its Caring Partners Adult Day Program.

In recent years, the resale market has grown in Rochester, with Savers, Goodwill and several private shops opening or expanding. That has served Salvation Army well, as more than 80 percent of the sale of each donated item is used to support Rochester programs.

"We have an amazingly generous community," said Brad Dahlke, who is assistant manager of the current store and will be in charge of the new north Rochester location.

Dahlke anticipates it will take about 15 to 18 employees to staff the new store. The current one has about 28 staffers.

He says Rochester always has responded well to the Salvation Army's store with donations as well as shoppers. Some frequent the store for its inexpensive basics. However, others shop like it's a "treasure hunt."

"Lots of antique dealers and collectors shop the store," Dahlke said.

While finding that valuable item is rare, it does happen occasionally. He recalled the story of a person who bought a dusty floor lamp for $5 and re-sold it for $5,600.

May 21, 2014

Mayo launching bioservices firm

Mayo Clinic has long processed and stored patient specimens for its own researchers.

Now it's packaging those services and others together to offer to outside clients via a new start-up company to be called Mayo Clinic Bioservices.

537cd487db2b9.image"Basically, we're taking advantage of some internal business that we've been doing for some time and now we're offering all of that externally to customers," explained Stephen Thibodeau, co-director of the Biorepositories Program in the Mayo Clinic Center for Individualized Medicine.

This new firm will allow Mayo Clinic to compete in a growing bio industry valued internationally in the billions.

He compared the business model to that used at Mayo Medical Labs, which tests patient sample for hospitals and researchers around the world. Mayo Clinic Biosciences won't run tests, though it will process, store and ship samples for its clients.

In addition to those services, it will also offer access to Mayo Clinic's Biobank. The Biobank features thousands of biological samples, such as blood, from healthy volunteers. Mayo Clinic has been collecting samples for seven years toward reaching a goal of 50,000 samples. Thibodeau estimates that the Biobank will finally reach that goal by June 2015.

The primary base for the new operation is being set up in the warehouse at 2915 Valleyhigh Dr. N.W., which Mayo Clinic bought in 2012. Some freezer units have already been installed and more construction to adapt the facility is underway. Thibodeau estimates that the facility will be ready this summer. Mayo Bioservices is expected to move in by August and have the operation running by September. It will also have satellite locations on Mayo Clinic's Florida and Arizona campuses.

Mayo Clinic currently supports the internal clinic sample processing and storage with a staff of about 70 employees, 50 of which work in Rochester.

"Initially, we expect to have a sufficient amount of staff. Though we do expect the business to grow over time and that we'll need to add more later," he said.

While it's not in operation yet, Mayo Clinic Bioservices has already signed up its first customer.Los Angles-based Sanguine recently signed up to have Mayo Clinic Bioservices process, store and ship biospecimens that Sanguine has collected for clients.

"We are excited about the pilot project with Mayo, not only because it increases the scalability of our business, but also because it allows individuals that have been on our waiting list to participate in the research and development of new treatments," stated Sanguine CEO Brian Neman in the annoucement. "Mayo Clinic Bioservices has tremendous infrastructure and processing capacity that will meet our existing needs while also offering the potential for future expansion."

The agreement between Mayo Clinic and Sanguine is a fee-per-service deal at this point, though they expect the business connection to deepen as time goes on.

"We hope to have a long-term relationship with Sanguine," according to Thibodeau. "Essentially, we're the laboratory arm of Sanguine."

March 19, 2014

Flamingos + Elks = Bingo

After months of waiting, a Rochester nonprofit finally has scored permission to move to a new home.

Flamingo Bingo, which raises money for the Rochester Senior Center, has been given the green light by the Minnesota Gambling Control Board to move into the Elks Lodge 1091 at 1652 U.S. 52 North in the Hillcrest Shopping Center.

FlamingobingoIt's moving out of its long-time leased home at 2828 U.S. 52 North, which was sold to Luther Automotive Group in January.

Deb Nusbaum, Flamingo Bingo's charitable gaming manager, says the bingo center will call its final game at its current site at 1 p.m. on March 30. Then, Nusbaum and her team of 16 employees will move the operation.

She plans to kick off the new round of games at the Elks Lodge on April 4. Work on the new Flamingo Bingo site is underway.

The Elks Lodge members are very positive about bringing Flamingo Bingo into its facility, according to the club president.

"It's multi-faceted for us," said Chris Holloway, when the plan first was announced in December. "We have an excess of space that we don't use on a daily basis. We're both charitable organizations. There's a lot of crossover in our clientele. Plus it brings in additional revenue."

ElkslodgeNow that the move is in motion, the question is what will happen to the 42-year-old building where Flamingo Bingo has been been based since it opened in 2007.

Twin Cities-based Luther Automotive bought the building for $950,000 on Jan. 17. Luther also owns the nearby Park Place Motors dealership on the same frontage road.

Luther's Linda McGinty said the company does not have a specific plan for the site yet.

McGinty, director of real estate and development at Luther Automotive Group, declined to discuss whether its possible plans could include an expansion of Park Place Motors or possibly bringing a new dealership into the market.

However, she did acknowledge that Luther will "probably eventually remove the building."

March 03, 2014

Mayo Clinic to expand Superior Drive Support Center

Mayo Clinic is planning to expand its Superior Drive Support Center, which houses Mayo Medical Laboratories.

The clinic submitted plans on Feb. 14 to build a proposed 66,000-square-foot, two-story addition on the south side of the complex at 3050 Superior Drive N.W. 

03032014mayomedlabsMML conducts a wide variety of medical tests for hospitals worldwide. According to its website,
it performs nearly 20 million tests for more than 4,000 hospitals annually. The testing division overall has more than 3,200 employees, including more than 160 physicians and scientists. It has 58 laboratories that perform testing with support from Mayo Clinic physicians.

03032014SDSCplansWhile Mayo Clinic spokesperson confirmed the existence of site development application, officials there say it's too early to discuss specifics such as the timeline for the project or estimated cost. However, the plans designed by Flad Architects offer general details.

The expansion will more than double the lab space in the complex. It currently has 30,854 square feet of labs. The plans show that 34,000 square feet of laboratory area in the proposed addition to bring the total lab space to a total of 65,000 square feet.

Office space in the SDSC is slated to grow by 5,472 square feet, for a total of 137,000 square feet of space, following the expansion.

The remainder of the 26,000 square feet in the proposed expansion is described only as "Other." The first floor of the addition will have 28,533 square feet, and the second level will have 27,842.

Mayo Clinic moved into the 13-year-old complex in 2004. By 2011, approximately 800 employees worked at the facility. It was originally built by electronics manufacturer Celestica Inc. in 2001. When that company closed its Rochester operation, the building was left empty.

While Mayo Clinic leased the property for eight years, it purchased it for $18.5 million in August of 2012. Prior to that it was owned by 17 national investors through Triple Net Properties of Santa Ana, Calif. until they defaulted on the mortgage in 2012.  The investors bought the property for $36.8 million in 2006

When the mortgage defaulted, HSBC Bank USA took over the property. HSCB then sold it to Mayo Clinic.

While it was was originally under construction, New York City-based W. P. Carey & Co. LLC bought the complex from Celestica, which leased it back. W.P. Carey later sold it for about 70 percent more than the $21.6 million it paid for it.

December 10, 2013

Mayo Clinic wraps up $10 million buy of old courthouse site

Amid the boom in downtown development and the flurry of Destination Medical Center activity, a sale of a historic Rochester property has wrapped up after 20 years.

Mayo Clinic now officially owns the former Olmsted County Courthouse property after making the last payment of a $10.1 million, 20 year Contract for Deed deal.

The final payment was made on Sept. 1 to complete the agreement that was originally signed between the Mayo Foundation and Olmsted County in October 1993, according to Kelley Luckstein of Mayo Clinic.Get_photo

Mayo Clinic spent $7.7 million to renovate the courthouse into what is now the Ozmun office buildings at 515 Second St. The revamped complex was dedicated in 1995. The property also includes the Dan Abraham Healthy Living Center at 565 First St. S.W.

The buildings and property on Second Street Southwest became available after the then-new City-county Government Center at 151 Fourth St. S.E. was dedicated in 1993.

After paying $1 down as earnest money, Mayo Clinic made payments to the county every Sept. 1. The first installment was $1,031,946 and then the payment increased by one dollar for the next four years.

By the fifth year, the payment grew to $1,216,807 for five years. It increased to $1,401,665 on year 11 and the annual remained at that level through the final payment.

The original deal was made by the Mayo Foundation, but that entity has since been converted into the Mayo Clinic legal body, says Luckstein. On Nov. 19, the ownership was transferred from the foundation to Mayo Clinic.

December 06, 2013

Two Rochester nonprofit "animals" may move in together

Two of Rochester's nonprofit "animals," Flamingo Bingo and the Elks Lodge 1091, are looking to possibly move in together in early 2014.

Both organizations have generally agreed on a plan to have Flamingo Bingo move into the Elk's large Lodge Room at 1652 U.S. 52 North in the Hillcrest Shopping Center.

However, no lease has been signed yet. The proposed project is subject to the final approval from the state, which is needed before anything happens.

Flamingobingo"Both organizations are very excited about this," says Deb Nusbaum, Flaming Bingo's charitable gaming manager.  "We anticipate that we'll eventually be moving there, but there are a lot of details to work through yet with the Minnesota Gambling Control Board."

Flamingo Bingo, which raises money for the Rochester Senior Center, has called games at 2828 U.S. 52 North since it opened in 2007. It is now looking for a new home due to coming changes to its building, which previously housed Circus World bingo.

Nusbaum stressed that Flamingo Bingo is open for business at its current spot along U.S. 52 North and will remain so until it moves, probably in early 2014.

Flamingo Bingo's fund raising efforts are "critical" to supporting the Rochester Senior Center, she says. It's annual financial goal, which it met in 2012, is to raise at least $100,000 for the senior center, according to Nusbaum. The bingo parlor has 16 employees on staff.

For their part, the Elks members see a lot of benefits in bringing Flamingo Bingo into its facility.

"It's multi-faceted for us," says Chris Holloway, the current club president. "We have an excess of space that we don't use on a daily basis. We're both charitable organizations. There's a lot of crossover in our clientele. Plus it brings in additional revenue."

December 05, 2013

Breast cancer scanner maker, once linked to Mayo Clinic, sold to Mexican company

Qg3q4q112233Here's a potentially interesting nugget of news about San Diego-based Naviscan Inc., which was at one pointed linked with Mayo Clinic through intellectual property licenses as well as direct investment by Mayo Medical Ventures.

"… Certain Naviscan Inc. assets including intellectual property and the Naviscan Trademark" have been aquired by a Mexican medical scanner company called Compañía Mexicana de Radiología or CMR.

Not sure what that means exactly, but my guess is that CMR is now behind the steering wheel at Naviscan.

Now I don't know if Mayo Clinic still has any links with Naviscan, but it certainly did at one time. I've got calls into Mayo and Naviscan to check on that.

I wrote the Mayo Clinic-Naviscan relationship back in 2005 through 2007 or so. Sheesh, I've been doing this for a long time.

From back in November 2005:

Naviscan “entered into an agreement with Mayo Foundation for Medical Education and Research (Mayo Clinic) to clinically validate and commercialize a dynamic patented molecular imaging agent for use with Positron Emission Tomography (PET) and other imaging modalities. … Mayo Clinic has licensed the vitamin B-12 molecular imaging agent technology invented by Dr. Douglas A.Collins to Naviscan PET Systems, Inc and will receive royalties from this license. Researchers at the Mayo Clinic have published studies that cancers have high uptake of radioactive B-12, especially in breast tumors."

    --------------------
"The combination of the Mayo Clinic’s patented Vitamin B-12 molecular imaging agent and Naviscan’s high-resolution PET scanner holds great promise for the future in terms of early detection of breast cancers,” said Paul Grayson, newly-appointed CEO of Naviscan PET Systems, Inc. and a Managing Director of Sanderling Ventures. “We sought out Naviscan’s technology to strategically invest in this important imaging technology platform.” Naviscan is planning clinical trial work with Mayo Clinic and other luminary sites in the U.S. to prove the value of the PEM Flex in breast cancer patients, as well as for evaluating PEM’s role with high-risk patients.”

----

From the same date in 2005:

“Naviscan PET Systems has raised a $6.5 million in Series B funding for its high resolution positron emission tomography (PET) products. The firm said that it raised the round from Sanderling Ventures, with participation from Mayo Medical Ventures."

FYI, Sanderling Ventures now leases a space in the Mayo Clinic Business Accelerator.