Evanne Timberlake

PRA Health CEO Shannon profits $5.8 million exercising stock options

Posted by Evanne Timberlake | Feb 27, 2017

The chief executive officer of PRA Health Sciences Inc. made $5.8 million exercising stock options, according to a filing with the Securities and Exchange Commission. PRA Health filed a Form 4 stating President and CEO Colin Shannon exercised stock options at $2.94 for 100,000 shares of common stock, selling them at $61.50, profiting $5.85 million. PRA is a health care research organization headquartered in Raleigh that specializes in clinical research, phase I-IIa, phase II-III, post approval, safety and risk management, therapeutic exercises, biosimilars, bioanalytical laboratories, rare disease and oncology. Shannon has served as CEO of the company since Jan....

Raleigh health tech startup MD Interconnect lands $770K

Posted by Evanne Timberlake | Feb 27, 2017

A Raleigh-based health care technology company has sold $770,000 in debt and equity, according to a Securities and Exchange Commission filing. MD Interconnect Inc. filed a Form D on Feb. 24, stating it has raised $770,000 of the total offering of $1 million. The filing did not state what the company intends to do with the proceeds. Privately held MD Interconnect has developed an innovative cloud-based mobile and web platform that allows clinicians within an integrated delivery network communicate quickly, easily and securely, improving patient care and efficiency while reducing costs. CEO and co-founder Karen Hohenstein has over 20...

Emerging RTP biotech company UVision raising $2M

Posted by Evanne Timberlake | Dec 7, 2016

UVision, a young North Carolina biotechnology company, has filed to raise $2 million in equity, according to a filing with the Securities and Exchange Commission. UVision 360 Inc. filed the Form D on Dec. 6 stating it has sold $716,427 of the total amount offered of $2 million. The company intends to use the money for working capital, which may include normal compensation to executive officers. This Triangle-based company has developed a hysteroscopy system designed to allow more gynecological procedures to be performed in an office vs. hospital setting. It is raising capital to fund what its hope to be...

Charlotte’s Pamlico Capital raises $910M from 63 investors

Posted by Evanne Timberlake | Nov 23, 2016

Charlotte-based private equity investment fund Pamlico Capital has raised $910 million in equity, according to a Securities and Exchange Commission filing. Pamlico Capital IV L.P. filed a Form D on Nov. 22. The company stated it has raised its total offering amount through 63 investors with a minimum investment accepted of $125,000. Pamlico Capital, formerly Wachovia Capital Partners, was founded in 1988 and invests primarily in lower middle market growth companies in the business and technology services, communications and health care sectors in North America. Since its founding, Pamlico has invested over $3.0 billion in over 100 companies. Pamlico’s investment...

Charlotte pharmaceutical firm to lay off 282 in plant closing

Posted by Evanne Timberlake | Nov 4, 2016

An Irish pharmaceutical company will lay off close to 300 employees by Dec. 31 with the closing of its Charlotte operations, according to a filing with the North Carolina Department of Commerce. Qualitest Pharmaceuticals, a subsidiary of Dublin-based Endo International, filed a WARN Act notice on Nov. 2, listing the 282 jobs that will be permanently terminated. All affected employees have been notified of their permanent separation, and all separations are expected to be accomplished by Jan. 14, 2017. The jobs being cut include 20 chemists, 59 manufacturing operators and 42 packaging operators. The company plans to close its...

Durham’s SMT Technology raises $13.8M in equity

Posted by Evanne Timberlake | Oct 7, 2016

A private Durham-based sports technology company has sold $13.8 million in equity and options, according to a Securities and Exchange Commission filing. SportsMedia Technology Corp. filed a Form D on Oct. 7. It did not say what the company intends to do with the money. The sports technology company offers real-time delivery of data and social media for live television sports and entertainment TV. The company designs clocks and scoreboards, race crawls, virtual insertion products and tickers. SportsMedia Technology acquired Chicago-based Sportvision, another company in video enhancement and virtual insertion graphics for live sports, in a deal that closed...