With a modified corporate name and rebranded technology services business, HII has been at work this year talking about itself as being equally about software and data as it is about shipbuilding.
HII, formerly Hunting Ingalls Industires, had a significant point of success to talk about on that front during its second quarter earnings call with investors Thursday: the win of a potential five-year, $826 million technology integration task order supporting the entire Defense Department.
The task order goes by the full name of Decisive Mission Actions and Technology Services and ties directly to HII's acquisition of Alion Science and Technology in last year's third quarter for $1.65 billion, HII CEO Chris Kastner told analysts.
Alion became a part of what is now the mission technologies segment of HII, formerly known as technical solutions.
"It is a really good indicator that things are hopefully starting to break loose and really validates our strategy for the Alion acquisition," Kastner said. "We are seeing some things break loose, we're going to have to see how that translates into revenue."
HII booked the DMATS order through its position on the governmentwide OASIS professional services contract vehicle. The task order covers technology, development, integration, collaboration, sustainment support, threat analysis and analytics including those of a specialized nature.
DOD service components, component research labs, the Fourth Estate administrative and support agencies, intelligence agencies and combatant commands can acquire support through the order.
The mission technologies business competed against one other bidder for the order that covers one base year and up to four individual option years, according to Federal Procurement Data System records.
Predicting when the next major win will happen for HII is a difficult proposition however. Kastner said that despite the positivity of such a synergy win, continued delays in agencies making awards are "pressuring (the) timing of current year revenues."
But the company is not standing still in positioning for those opportunities to further expand the mission technologies segment.
The business has $8 billion in bids awaiting an agency decision, while another $26 billion is in the stage of qualification and proposal. Nearly $27 billion is in the exploratory phase, or where the company is deciding whether to pursue the business.
It all adds up to a $61 billion pipeline that HII sees as growing "from the time that we picked (Alion) up last year," Chief Financial Officer Tom Stiehle told analysts.
Even with that long-term favorable outlook, HII is adjusting its mission technology revenue forecast downward for this year to the $2.4 billion-to-$2.6 billion range. HII's prior sales guidance was at the top end of $2.6 billion.
"This revision is a function of a slower award in contracting environment than we had initially expected and precipitated by the continuing resolution to start the year," Stiehle said.
Second quarter mission technologies revenue of $600 million was an increase of $363 million over hte prior period because of the Alion acquisition. The company expects the segment this year to hit an 8%-to-8.5% EBITDA margin (earnings before interest, taxes, depreciation and amortization).
On top of the award delays, HII is also managing through the same tight hiring environment that other defense and government technologies have spoken about with investors over the past two weeks of earnings calls.
HII is seeing that crunch in both sides of its business: mission technologies and shipbuilding.
"We do have more seats than we have heads right now," Stiehle said. "The job market is tight, finding people with that type of background and tickets, so there's seats there we have unfilled and that brings in some variability on the sales outcome of the year."
San Pedro-based marine research center and “blue economy” incubator AltaSea has spent its first eight years focused on building out its 35-acre campus at the Port of Los Angeles.
But even as that effort continues, AltaSea is now turning its attention to the business of fostering marine-focused companies and research.
Terry Tamminen, the environmental point man for former Gov. Arnold Schwarzenegger who took the helm of AltaSea in January, told the Business Journal late last month that the organization is preparing to launch later this year two new investment funds totaling $600 million.
Tamminen said one of the funds will be a $100 million venture capital fund aimed at ocean-focused companies emerging from the nonprofit’s incubator and accelerator programs. The other will be a $500 million private equity fund aimed at hydrogen technology companies. The aim is for both funds to have much of their investment dollars in hand by the end of this year or the first quarter of next year.
“These will be the first dedicated funds for AltaSea and its blue concept to commerce incubator program,” Tamminen said. “They are focused on developing the blue economy,” he added.
The blue economy refers to ocean-based activities that boost the economy, ranging from sea-based cargo movement and tourism to sustainable fisheries. Development of the blue economy has been at the heart of AltaSea’s mission since its founding as a nonprofit in 2014.
AltaSea has also this year formally launched its incubator program, which it calls “concept to commerce.” Participating companies are using the mostly renovated space in the first of the three massive warehouses the center is upgrading in the campus buildout.
Tamminen compared the warehouse incubator program to the late legendary Apple Inc. co-founder Steve Jobs’ garage, in which many of Apple’s early innovations took place. “This is Steve Jobs’ garage on steroids,” he said.
AltaSea grew out of the process a decade ago to find and design a new home for the Southern California Marine Institute, a research facility on Terminal Island that was seeking a larger and more accessible location within the port complex.
The nonprofit, which was initially supported by at least $20 million in donations from the Annenberg Foundation, signed a 50-year lease in 2016 with the Port of Los Angeles for a 35-acre campus on the century-old City Dock No. 1 at the port. The dock contained three abandoned 60,000-square-foot warehouses along with a vacant 1-acre parcel.
But as a master plan was drawn up for the repurposing of the site, AltaSea quickly grew into more than the new home for the marine institute. It was also to be a magnet for companies seeking to commercialize marine-based technologies – everything from underwater robotic monitoring systems to kelp farming to new power and propulsion systems for marine vessels.
AltaSea hired San Francisco-based Gensler to draw up the campus plan, which centered on upgrading and converting the three warehouses to accommodate incubator companies and research facilities. The plan also called for construction of a science and education center. The buildout cost was pegged at between $150 million and $200 million.
After formally taking possession of the 35-acre dock site in 2018, AltaSea has focused on raising funds, finalizing the campus plans and, in 2020, began construction on the conversion of one of the warehouses.
Tamminen, the former California Environmental Protection Agency secretary in the Schwarzenegger administration, said that in the last year alone AltaSea had raised $24 million toward the campus-buildout effort. That fundraising is continuing.
Tamminen said AltaSea is now part of a coalition of regional organizations that is competing for $61 million in funds from the federal Economic Development Administration to develop and scale blue and green innovations in the goods-movement sector. If the coalition gets the funding, AltaSea’s share would be up to $32 million.
And AltaSea is leading another statewide coalition seeking to win one of four $2 billion hydrogen technology hub awards from the U.S. Department of Energy. If successful, AltaSea could host one or more hydrogen technology projects.
Tamminen has some experience with hydrogen fuel technology: he was the architect of the state’s hydrogen highway program in the Schwarzenegger administration.
In tandem with the fundraising, AltaSea has been bringing on tenant companies and researchers – 24 in all.
“It’s a virtual incubator that developed organically,” Tamminen said.
Among the tenants already there: Carlsbad Aquafarm, San Ramon-based Nautilus Data Technologies Inc., Boulder, Colorado-based RCAM Technologies Inc., a marine pumped hydroelectric storage company, and a USC sustainable seaweed aquaculture lab.
Another company at AltaSea is Torrance-based Blue Robotics Inc., which makes underwater robotic vehicles and components. The company uses the research facility in part to showcase its technologies to marine researchers and students.
The first tenant company at AltaSea was Braid Theory, a venture advisory firm that specializes in advising startups between the time they emerge from university research programs and enter accelerator programs.
“We focus on the blue economy, especially port environments and the decarbonization of goods movement,” said Ann Carpenter, Braid Theory’s chief executive.
Carpenter said that unlike other marine-focused research institutions in California, such as Scripps Institute of Oceanography in La Jolla or the Monterey Bay Aquarium, AltaSea’s presence at the largest port complex in North America taps more directly into the segment of the blue economy that Braid Theory focuses on.
“We need to have our client entrepreneurs be close to port customers and the industrial economy of San Pedro,” Carpenter said.
On the research side, AltaSea will soon be host to a demonstration facility for the extraction of carbon that’s part of UCLA’s carbon-capture program headed by Gaurav Sant, professor of civil and environmental engineering at UCLA. Sant is also one of the founders of Manhattan Beach-based CarbonBuilt, which is working on placing captured carbon emissions into concrete.
Tamminen said Sant’s project at AltaSea is focused on capturing carbon out of the air and in the process generating hydrogen fuel. He added that another AltaSea tenant is Robert Ballard, who keeps his underwater exploration vehicle Nautilus there when not in use during the winter months. Ballard, of course, discovered the wreck of the Titanic in the mid-1980s.
Another key component of AltaSea is marine and blue economy education programs. AltaSea has ramped up efforts to bring K-12 students to the campus for tours and programs and has also sponsored various STEM (science, technology, engineering and math) programs in local schools.
And by the end of this year, AltaSea is aiming to have a large solar panel installation in operation, generating 2.2 million megawatts, enough to power all activities onsite and put some electricity back onto the grid. The roof for the solar panels was completed last month.
“Ultimately, this isn’t just about providing power to the AltaSea campus,” Tamminen said. “The longer-term aim is to use solar power to electrolyze wastewater or seawater and separate out the hydrogen, which can then be used as ‘green hydrogen’ for fuel cells.”
When Sunny Shergill was named technical theater director at Clayton Valley Charter High School (CVCHS), he returned to his alma mater determined to supply students the best training possible at the high school level. With an aging wireless intercom system that was struggling to make the grade, Shergill convinced school officials to purchase a CrewCom wireless intercom system from Pliant Technologies (opens in new tab).
Clayton Valley Charter High School is a tuition-free, public charter school located in Concord, CA. For Shergill, his goal in acquiring the CrewCom system was two-fold. “First, our school wanted to provide the students in our Tech program with industry standard equipment and the best hands-on experience possible,” said Shergill. “Secondly, we required full-campus coverage. We run multiple events on the same day at various locations and we needed to be able to deploy our communication system throughout the campus, which is very large. With our old system, every time we did an event, we needed to disassemble our rack or have a rolling rack, which was difficult. When the decision was made to find something that would fit our needs better; I knew we needed to look at Pliant and its CrewCom system.”
[Pliant Technologies CrewCom System Powers Jason Martin Audio in Houston] (opens in new tab)
Shergill first came across Pliant’s CrewCom system at an industry conference and was immediately intrigued. “We knew about Pliant and CrewCom, but we didn’t know enough to pull the trigger. We did a lot of research and reached out to industry friends and colleagues who helped convince us CrewCom was the way to go,” added Shergill. “Ultimately, what sold us was the CrewCom system’s frequency band. CrewCom runs in the 900MHz frequency and being in a high school, our IT department appreciated the fact that we weren’t adding more 2.4GHz antennas all over the place. The number of packs that we could get on a single Radio Transceiver [RT] and how incredibly easy the RTs are to deploy also played a vital role in choosing CrewCom.”
CVCHS purchased one CrewCom Control Unit (CU) that is centrally located on campus, six radio transceivers that are located throughout the campus via Cat 6 and fiber, 12 radio packs along with Pliant headsets. The CrewCom system is quite busy at CVCHS. In addition to the schools’ five theatrical productions each year, the system is also used at the stadium for football games, in the gymnasium, pep rallies, the outdoor amphitheater and several one-off events including variety shows and student leadership clubs.
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“We are definitely utilizing our CrewCom system quite a bit,” added Shergill. “We don’t run a show or event without it. CrewCom is put through the paces on a daily basis. Students drop them, they fall off belts, get knocked off tables and we have not had any fails from damage. In addition, the audio clarity is super clear. We utilize the CrewCom during football games and our comms are a lot clearer than whatever the coaches are using. We can hear on top of thunderous cheering, loud marching bands, and blaring PA speakers, all with clarity and without any issues. It’s a cost-effective solution that has quickly turned out to be a great purchase.”
In addition to its regular use on campus, Shergill has also found another potentially very important use. “The CrewCom system is in our emergency plan as a back-up communication device for the campus," said Shergill. "Because the CrewCom system is deployed campus wide, we added it on to our emergency preparedness plan just in case our existing radio system goes down and we still need to communicate with our campus security or administration. We are finding new uses for it as we go.”
The University of California, Davis, reached a major milestone attracting $1.07 billion in external research funding in the fiscal year 2021-22, up $102.9 million from the previous record set last year. In doing so, UC Davis joins an exclusive group of fewer than 20 public universities in the nation surpassing $1 billion in research funding.
The awards lend support to a wide range of research areas including advancing public health and medicine, developing new technologies in food, agriculture and the environment, empowering the underserved and enabling a more resilient society.
“This new record for research award funding marks a historic moment for UC Davis,” said Chancellor Gary S. May. “More than ever, our university is on a mission to address some of the world’s greatest challenges, from how we feed the world to the health of all living beings. This milestone shows clearly how UC Davis research is being sought more than ever, by both the public and private sector, and across numerous fields. I’m confident this kind of global impact from UC Davis will only continue to grow.”
A primary contributor to this year’s growth came from funding within the College of Agricultural and Environmental Sciences, up by $72 million from the previous year for a total of $225 million. The School of Medicine also noticed a large increase, adding $29 million for a total of $396 million. The School of Veterinary Medicine ($89 million), College of Engineering ($79 million) and College of Biological Sciences ($68 million) rounded out the top five.
The federal government remained the largest provider of funding at $499 million, although down by $15 million from last year. The second leading source was the state of California at $210 million, up by $46 million from the previous year. Funding from industry made up the third highest source, totaling $104 million. Substantial increases also came from charities (up $26 million) and other UC programs (up $29 million).
“As the funding for research grows, so does the impact that UC Davis extends around the world,” said Prasant Mohapatra, vice chancellor for research at UC Davis. “This year’s grand accomplishment of surpassing $1 billion in research funding will translate into tomorrow’s discoveries, insight and products that offer a brighter future for our global community.”
An event to celebrate the achievement and showcase some of the exciting research discoveries and emerging technologies is planned for this fall. You can sign up to register for the event here.
The largest award, $53.4 million from the USDA Food and Nutrition Service, went to Kamaljeet Khaira, director of the University of California CalFresh Nutrition Education Program (UC CalFresh) to help reduce the chronic rate of obesity and encourage the awareness of healthy foods and increased physical activity among low-income individuals.
The goal of the GEMINI: GxExM Innovation in Intelligence for climate adaptation project is to use 3D modeling, artificial intelligence and crop genetics to develop new technologies to Excellerate and accelerate breeding pipelines for common bean, cowpea and sorghum, which are key crops for food and income for smallholder farmers in sub-Saharan Africa. The project is co-led by Christine Diepenbrock and Brian Bailey, assistant professors in the Department of Plant Sciences, and Mason Earles, assistant professor in the Department of Biological and Agricultural Engineering, and funded by the Bill & Melinda Gates Foundation.
This research project aims to integrate molecular and cellular physiology measurements on single neurons in order to identify how disease-causing genetic mutations alter neuron behaviors. Gerald Quon, an assistant professor in the Department of Molecular and Cellular Biology and the Genome Center, is leading the project that is funded by the National Institutes of Health (NIH).
The goal of the alternative COVID-19 antigen production project is to explore the viability of a range of biomanufacturing technologies to produce antigens using six different systems: two plants, and cultured mammalian, bacterial, yeast and filamentous fungal cells. The two-year project is led by Karen McDonald, a professor in the Department of Chemical Engineering, and funded by the National Institute of Standards and Technologies (NIST) through the Bioindustrial Manufacturing and Design Ecosystem (BioMADE),
The psychedelics research project led by David Olson, an associate professor in the departments of Chemistry and Biochemistry and Molecular Medicine, plans to screen hundreds of compounds to discover new, nonhallucinogenic treatments for substance use disorders. Funded by the National Institute on Drug Abuse, part of the National Institutes of Health, the study will help us understand the basic mechanisms by which these compounds impact addiction and may help development of more effective and better tolerated treatments.
The two projects from UC Davis Continuing and Professional Education — Human Services are focused on supporting the delivery of training and workforce development services for public child welfare agencies and community-based organizations providing intensive services to vulnerable children, youth and families throughout California. Funded by the California Department of Social Services, the programs include instruction and development of new courses and training programs to meet evolving needs of the state’s child- and family-serving agencies. The projects are led by program directors Alison Book and Nancy Hafer.
The Blackstone Charitable Foundation project supports the creation of entrepreneurs and innovators under the name "Blackstone LaunchPad” with a focus on entrepreneurial skill-building so students can succeed in any career they choose. The UC Davis Blackstone LaunchPad makes progress towards specific milestones of increasing cumulative UC Davis student participation each year to support their skills in moving from ideas to growth to ultimately positive impact through a variety of on- and off-campus activities. The project is led by Andrew Hargadon, a professor and Soderquist Chair in Entrepreneurship in the Graduate School of Management (administered by the Mike and Renee Child Institute for Innovation and Entrepreneurship) and sponsored by Hanumantha Unnava, dean of the school.
The project titled “Examining how teacher-student interactions within mathematics and literacy instructional contexts relate to the developmental and academic outcomes of early elementary students with autism” proposes to bridge the gap between autism research and general education practices. The project is led by Nicole Sparapani, an associate professor in the School of Education and the MIND Institute, along with co-principal investigators Professor Peter Mundy and Nancy Tseng, lecturer in the UC Davis School of Education. Funded by the Institute of Education Sciences, the team will explore how general education teachers can use inclusive math and literacy instructional practices to support learners with autism in their kindergarten to third grade general education classrooms in large, diverse public school districts in Northern California.
The goal of this project from the School of Law is to provide legal services without charge to indigent persons, particularly client groups that have traditionally lacked significant legal representation including migrants, survivors of domestic violence and individuals whose civil rights have been violated. It is led by Gabriel Chin, professor of law and director of Clinical Legal Education, and funded by the State Bar of California.
This research project will examine hospital-to-home transitions for older adult couples who are managing heart failure. The ultimate goal is to develop interventions to support better symptom response and management during these transitions. The project is led by Julie T. Bidwell, an assistant professor in the Family Caregiving Institute at the Betty Irene Moore School of Nursing, and supported by the National Institutes of Health and National Institute of Nursing Research.
This project aims to Excellerate breast cancer, heart health and Alzheimer’s disease care for women. The Krueger v. Wyeth Settlement Funds award will enable UC Davis Health researchers to study health disparities and advance projects focused on women of color and those in underserved communities. These women are traditionally underrepresented in research and have unique disease risks. As program director, Angela Haczku, a professor of medicine and associate dean of research at the School of Medicine, is assisting principal investigators Professor Luis Carvajal-Carmona, Professor Diana Miglioretti, Professor Amparo Villablanca and Professor Rachel Whitmer, School of Medicine leading the work in the four major projects of this collaborative research award.
Through a project funded by the National Science Foundation titled “Impacts of rapid landscape change and biodiversity on virus host specificity,” the researchers plan to investigate emerging and re-emerging viruses in transitional ecosystems where landscape change is most likely to influence disease transmission from wildlife to humans. The project is led by Christine Johnson, professor of epidemiology and ecosystem health in the UC Davis School of Veterinary Medicine and Assistant Researcher Tierra Smiley Evans (EpiCenter for Disease Dynamics, One Health Institute), Professor Lark Coffey (Department of Pathology, Microbiology and Immunology, UC Davis School of Veterinary Medicine), Rebekah Kading (Colorado State University), Mike Boots (UC Berkeley), and Ohnmar Aung and Pyae Phyo Aung (Nature Conservation Society - Myanmar).
Interdisciplinary research conducted by Organized Research Units, Special Research Programs, and IMPACT Centerswithin the Office of Research continued to attract significant funding at $113 million, up 19% from last year.** These joint efforts often focus on addressing complex, large-scale challenges that require expertise from many perspectives. Notable examples include:
The UC Davis Energy and Efficiency Institute, as a sub-awardee from Lawrence Berkeley Laboratory, will establish the California Flexible Load Research and Deployment Hub to conduct electricity sector applied research and development and technology demonstration and deployment projects. The goal of the project is to reduce dependence on fossil generation, firm up renewable resources to help California achieve its renewable generation and decarbonization goals. The principal investigator at UC Davis is Professor John Kissock, Department of Mechanical and Aerospace Engineering. The project is funded by the California Energy Commission.
The goal of this project is to identify treatments and develop therapeutics to stop Alzheimer’s disease from causing irreversible damage to the brain. John H Morrison, professor in the Department of Neurology and director of the California National Primate Research Center, and his team are developing nonhuman primate models of Alzheimer’s disease that could explain the biochemical and cellular basis of neurodegeneration associated with the disease, and provide new therapeutic targets. This project was funded through the National Institute on Aging (NIA).
This cooperative effort between the National Park Service and the Air Quality Research Center (AQRC) at UC Davis will analyze data and develop new methods and approaches to enhance the quality and scope of monitoring particulate matter and visibility in national parks, wilderness areas, wildlife refuges and other protected areas designated by Congress. The project is an enhancement to the Interagency Monitoring of Protected Visual Environments (IMPROVE) network, which is operated by the AQRC at UC Davis, and is led by Ann M. Dillner, associate director of analytical research, with funding from the U.S. National Park Service and support from the U.S. Environmental Protection Agency.
Note: Reports are based on the principal investigator’s home school or college. Where funds are awarded up-front to cover several years, the money is counted in the first year the award was received. Incrementally funded awards are counted as authorized in each year.
*Project funding allocated in fiscal year 2019, but active in fiscal year 2022.
**Interdisciplinary totals reported by principal investigator’s administrative unit
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- CanadaWheels.ca Celebrates 10 years of Excellence and Innovation -
OTTAWA, ON, Aug. 3, 2022 /CNW/ - Ten years ago, Saleh Taebi, a tech enthusiast in his 20s found a fully bootstrapped start-up out of his "passion for technology and perfecting cars." The company is now Canada's #1 online choice for purchasing Wheels, Tires, and Automotive Parts. Right from its inception in 2012, CanadaWheels has revolutionized the Automotive e-commerce industry through its award-winning platform that is built upon innovation and advanced technology.
CanadaWheels started its journey by transforming the multi-layer automotive supply chain, through enabling a direct link between manufacturers and end users. That considerably reduces warehousing and logistic costs, enabling them to offer a massive range of product options from various manufacturers. As a result, they can provide the best prices along with nationwide fast and free shipping services.
Throughout these years, the company has constantly been pushing the envelope in providing a more convenient shopping experience, by enabling various innovative technologies, such as being the first Canadian site to offer a wheel visualizer, offering automated guaranteed fitment using an in-house database of over 50 million vehicle records and building a geolocation-based algorithm for dispatching and shipping products in the fastest way possible.
Founder & CEO Saleh Taebi states, "We are privileged to serve over 10 Million visitors within our first 10 years of existence. We are grateful to all our customers, business partners, and supporters. Our first decade is a reflection of our Canadian Dream. My Team and I are very proud of this milestone and will continue to push the limits in conquering higher picks in the international online retail market."
Relying on its mission toward innovation, Canadawheels has proudly served hundreds of thousands of loyal customers in 800 cities across Canada and shipped products to over 10 countries worldwide, including the USA, Spain, Germany, Japan, etc. Satisfying customers with high-quality products and services has always been at the core of all CanadaWheels activities, which is truly reflected in more than three thousand 5-star Google and Facebook Customer Reviews submitted so far.
Thanks to the support of its customers, CanadaWheels has seen impressive 200x revenue growth in the past 10 years with a 70% Compound Annual Growth Rate (CAGR), earning national recognitions in the form of twelve awards since its inception. These awards include three consecutive years on the business ranking of "Canada's top Growing Companies" (2019-2021) by The Globe and Mail, and most recently on the 2022 Canadian Business New Innovators List.
Enhancing their catalog by adding over 450 reputable auto part brands was yet another milestone toward CanadaWheels expansion, which marks them as the biggest online assortment in the Canadian market, offering more than 2 million products, from 750+ brands. By this milestone achieved in early 2020, CanadaWheels has transformed from being a wheels and tires retailer to a one-stop shop, capable of fulfilling all automotive needs.
While celebrating the first decade, the future looks even more promising for CanadaWheels and its customers. The company plans to expand its portfolio beyond automotive, by enhancing departments such as motorcycle, boating, bicycle, and Garage equipment and Tools, expanding its inventory by listing new products from over 100 top-selling brands in these categories.
In the same vein, CanadaWheels also aims to promote its award-winning platform across borders later this year, by launching its new domain USAWheels.com, coupled with the integration of AI-driven features to target customers and stakeholders living in the United States more efficiently.
Founded in 2012, CanadaWheels is the number one online retailer of automotive wheels, tires, and parts in Canada. Its mission is to revolutionize the automotive online shopping experience by innovating, educating, and bringing transparency to the automotive industry. Headquartered in Ottawa, their award-winning platform has served hundreds of thousands of clients nationally and internationally. CanadaWheels, in the future, plans to further innovate its current e-commerce platform through the integration of AI and will be launching its American domain, USAwheels.com.
CanadaWheels is always proud to put customers at the centre of all its activities and assist them through a professional team of customer support staff. Their lines are open during business hours to answer any client questions such as vehicle modifications or best buying options. Shoppers can get in touch with their sales certified at 1·800·453·4484 or email@example.com. For any media inquiries, please contact firstname.lastname@example.org.
SOURCE CanadaWheels Inc
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ENDICOTT, N.Y., August 01, 2022--(BUSINESS WIRE)--ICS, a portfolio company of ClearLight Partners and leading provider of Information Technology (IT) Managed Services to a vast array of client profiles, announced it has acquired Cards Technology (Cards), also a leading provider of Managed IT Services to small to medium businesses, headquartered in Ocean City, Maryland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220801005678/en/
Cards was founded in 2000 and has grown by helping small-to-medium sized businesses in the markets surrounding Ocean City, MD achieve success by providing technology solutions and support. Cards offers managed IT and cybersecurity services, hardware and software procurement, cloud solutions, and a wide array of ancillary technologies such as telephone systems and security cameras.
Kevin Blake, CEO of ICS, commented: "We are thrilled to partner with Sam and the excellent team at Cards. They share our values and we are excited to grow the ICS Family. ICS’ mission is to make a difference in our employees’ lives, our customers’ businesses, and the communities we serve. We are looking forward to growing in the Mid-Atlantic."
"The ICS team are true professionals and the resources they bring to the table will allow us to expand the high quality services we are known for providing to our clients. I’m excited for the next chapter of our story," said Sam Card.
Kyle Burke, a Partner at ClearLight said, "Kevin Blake and the ICS team have been outstanding partners. We see continued secular tailwinds for the IT managed services space, and believe Cards is an excellent complement to the ICS business."
ICS is a provider of IT managed services, cybersecurity, cloud migration and other project-based services, and hardware and software reselling for small to medium-sized organizations. The company offers on-site and remote support to clients in the Northeastern US and throughout the United States, with an emphasis on serving small-to-medium sized businesses and clients within government, education, healthcare, financial services, professional services, manufacturing, retail, and other industries. ICS was founded in 1986 and is currently led by 20+ year industry veteran Kevin Blake.
For more information, visit www.icscomplete.com.
About ClearLight Partners
ClearLight Partners is a private equity firm in Southern California that invests in established, profitable middle-market companies with significant growth potential. Since its inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. The team at ClearLight has extensive operating and financial experience and has a history of successfully partnering with owners and management teams to drive growth and create value.
For more information, visit www.clearlightpartners.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220801005678/en/
DALLAS, August 08, 2022--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Code Unlimited, LLC to Jensen Hughes, Inc. (a holding of Gryphon Investors). The acquisition closed July 27, 2022.
Located in Beaverton, Oregon, Code Unlimited (CU) is a building code compliance consultant specializing in fire protection, accessibility, and hazardous materials. The Company’s staff holds multiple licenses and certifications such as ICC, IBC, ADA, cASP, NFPA, Historical & Legacy Codes, Land Use and Zoning, Mass Timber, Seismic Analysis, DoD, and UFC regulations. The Company takes a collaborative and technology-based approach to develop custom solutions based on state-of-the-art technologies and comprehensive code knowledge.
CU helps customers navigate complex land use regulations and develops innovative solutions for challenging building code, fire protection, and accessibility requirements using performance-based and data driven approaches. The Company’s consulting services can be implemented at any stage of a construction project or applied to existing buildings. CU’s team of architects, engineers, and code compliance certified are able to offer solutions for non-compliant structures as well as work with architects to ensure new construction projects are designed with all potential issues identified and addressed.
Jensen Hughes (JH), headquartered in Baltimore, Maryland has offices located throughout the U.S., Canada, Europe, Australia, Asia, and the Middle East. JH is the global leader in engineering, consulting and technology that make the world safe, secure and resilient. Worldwide, they are recognized most widely for leadership in fire protection engineering – a legacy of responsibility advanced with honor and pride since 1939.
The Company’s commitment to safety, security and resilience extends to other critical competencies core to their purpose, strategic capabilities they have been expanding for years. These include accessibility consulting, risk and hazard analysis, process safety, forensic investigations, security risk, and emergency management as well as digital innovation across many of their services.
Today, JH’s 1,500+ engineers, consultants, analysts and strategists work from 90+ offices supporting clients in 100+ countries across all markets – from Government, Healthcare, Science, and Technology to Energy, Mission Critical and Transportation.
Based in San Francisco, California, Gryphon Investors (Gryphon) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $8.3 billion of equity investments and capital since 1997. Gryphon makes equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Sr. Managing Director Mergers & Acquisitions, Fred Zweifel with the support of Sr. Managing Director - Western Region, Lori Galloway successfully closed the transaction. Senior Managing Director, Ashok Tandon established the initial relationship with Code Unlimited.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 300 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220808005116/en/
Mental health is on the decline all over the world. In fact, according to Morning Call, “Given the challenges of the last two years, it’s not surprising we find ourselves in a national mental health crisis. According to the Centers for Disease Control and Prevention, cases of depression and anxiety were four times higher during the first year of the pandemic compared to previous years. Nationally, the proportion of mental health-related emergency department visits among adolescents aged 12-17 years increased 31% compared to pre-pandemic numbers. In the U.S., one person dies by suicide every 11 minutes.” The good news is more companies are lining up to help, including Datametrex AI Limited (TSXV: DM) (OTCQB: DTMXF), Teladoc Health Inc. (NYSE: TDOC), LifeWorks Inc. (TSX: LWRK) (OTC: MSIXF), WELL Health Technologies Corp. (TSX: WELL) (OTC: WHTCF), and LifeStance Health Group Inc. (NASDAQ: LFST).
In addition, according to Daybreak Health, “A national emergency in youth mental health was declared at the end of last year by the U.S. Surgeon General, the American Academy of Pediatrics, the American Academy of Child and Adolescent Psychiatry, and the Children's Hospital Association. But the increased demand for mental health services combined with a lack of qualified mental health professionals, the cost of care, and the time it takes to find a clinician makes accessing care a challenge for most American families”
Look at Datametrex AI Limited (TSXV: DM) (OTCQB: DTMXF), For Example
Datametrex AI Limited announced that its wholly-owned subsidiary, Nexalogy Environics Inc. is partnering with Medi-Call Inc. to battle against the suicide epidemic.
Medi-Call will utilize Nexalogy’s AI Social Media Automated Reporting Technologies to filter through and identify patterns from online social media postings to detect those who may be suffering from mental illness and who may need support. Nexalogy’s SMART AI tool can gather sets of information within minutes and can filter through hundreds of thousands of social media documents to detect social postings surrounding mental health and suicide.
The government of Canada reports that an average of 10 Canadians die each day by suicide. That’s approximately 4,000 deaths by suicide per year and is the second leading cause of death among youth and young adults. Source: (https://www.canada.ca/en/public-health/services/publications/healthy-living/suicide-canada-key-statistics-infographic.html)
There is increasing evidence that supports the idea that social media can influence suicide-related behaviour with cyberbullying and cyber harassment online. Data from a survey given to approximately 2000 children showed that victims of cyberbullying were almost two (2) times more likely to attempt suicide. Cyberbullying can increase the risk of suicide by raising one’s feelings of isolation, emotional and psychological distress, and instability. Source: (https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3477910/)
In another survey, data suggests that 68 percent of children have gone through online harassment which resulted in mental health issues. Cyberbullying is twice as likely to trigger suicidal thoughts in victims. Over 40 percent of cyberbullying happens through online social media platforms, such as Instagram and 71 percent of those who were surveyed felt like social media platforms aren’t doing enough to fight the problem of bullying online. Source: (https://techjury.net/blog/cyberbullying-statistics/#gref)
In addition, Bark, a social media parental control app saw a 25 percent increase in talk of self-harm among teens online. Approximately 75 percent of teenagers were involved in conversations or situations online involving self-harm or suicide. Source: (https://www.foxbusiness.com/technology/social-media-usage-teens-harmful-2021)
With Nexalogy’s Smart AI tool, the Company can detect those who are posting and prevent mental harm, suicide and other mental health issues that could lead to suicide by offering Medi-Call’s Mental Health services and support.
“The latest data shows that people are dealing with mental health now more than ever. Data from the CMHA suggests 37 per cent of British Columbians' mental health has declined during the pandemic. Together with Medi-Call, our AI solutions, can assist in detecting those who are suffering and help provide a solution,” said Marshall Gunter, CEO of the Company.
“There is an urgent need for mental health support and healthcare within Canada. The Canadian Institute for Health Information reported that half of Canadians waited up to 1 month for mental health services, while 1 in 10 waited more than 4 months before receiving care. Medi-Call’s mission is to fill in that gap so patients can receive the treatment and support they need,” said Dr. Omar Sharif, Chief Medical Officer of the Company.
Other related developments from around the markets include:
Teladoc Health Inc., the global leader in whole-person virtual care, is providing free, 24/7 general medical telehealth visits to residents, first responders and others in Kentucky directly impacted by the severe storms and devastating flooding that have affected the state. Individuals from eastern Kentucky who are hardest hit and are now being displaced can seek treatment from a licensed health care professional for any non-emergency illness by calling Teladoc directly at 855-225-5032. “As communities seek to navigate the impact of unprecedented flooding, we want to make sure that those faced with devastation and displacement are keeping their health front and center and know how to get care,” said Dr. Vidya Raman-Tangella, chief medical officer, Teladoc Health. “Virtual care is a proven solution that supports community health during these times, as residents from evacuated areas continue to seek necessary care when health care facilities and providers may also be affected and unable to meet all care needs.”
LifeWorks Inc. announced that its Board of Directors has changed the Company’s record date for its July 2022 cash dividend from July 29, 2022 to August 3, 2022. A cash dividend of $0.065 per share for the month of July 2022 is to be paid on August 15, 2022 to holders of record of shares of LWRK on August 3, 2022.
WELL Health Technologies Corp. provided preliminary results for Q2-2022 ending June 30, 2022. WELL expects to report strong financial results underpinned by significant growth in patient visits. The Company is pleased to report preliminary results for Q2-2022 with revenue expected to exceed C$130 million, operating Adjusted EBITDA exceeding C$23 million, and Shareholder Free Cash Flow of approximately C$15 million. WELL achieved a total of 839,698 omni-channel patient visits in Q2-2022, representing a year-over-year increase of 50% compared to Q2-2021, and a 7% increase compared to Q1-2022. In addition, MyHealth conducted 179,880 diagnostic visits in Q2-2022, while Wisp completed 152,398 asynchronous patient consultations. Combining WELL's omni-channel patient visits2, MyHealth's diagnostic visits and Wisp's asynchronous patient consultations, WELL achieved a total of 1,172,849 patient interactions in Q2-2022.
LifeStance Health Group Inc., one of the nation’s largest providers of outpatient mental health care, will issue its second quarter earnings release after the market closes on Tuesday, August 9, 2022. LifeStance will host a live earnings conference call to discuss second quarter results on August 9, 2022 at 4:30 p.m. (Eastern time). To participate in the call, please dial 1-800-715-9871, domestically, or 1-646-307-1963, internationally, and use conference ID 3842667, or ask to be joined into the LifeStance call. A real-time audio webcast can be accessed via the Events and Presentations section of the LifeStance Investor Relations website.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Datametrex AI Limited paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares Datametrex AI Limited Please click here for disclaimer.