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VOL. 43 | NO. 21 | Friday, May 24, 2019

MedEquities Trust bought by Omega

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Nashville-based MedEquities Realty Trust, Inc. has been acquired by Omega Healthcare Investors.

Omega has announced the completion of the acquisition of all of the outstanding shares of MedEquities. The transaction represents an enterprise value of approximately $600 million for MedEquities and further diversifies Omega’s assets and operators.

Following the acquisition, Omega will continue to be the premier publicly traded real estate investment trust focused principally on skilled nursing facilities, by adding a diversified portfolio of investments including 34 properties located in seven states and operated by 11 different operators.

Under the terms of the merger agreement, each outstanding share of MedEquities common stock automatically was converted into the right to receive 0.235 of a share of Omega common stock plus $2 in cash, which represents a value of $10.85 per MedEquities share based on the $37.67 closing price for Omega common stock May 16.

CM Group purchases legal platform Vuture

Nashville-based CM Group has acquired Vuture, a cross-channel marketing platform for legal and professional service providers.

CM is a marketing technology company including Campaign Monitor, Delivra, Emma, Liveclicker and Sailthru.

Vuture brings vertical-specific features, functionality and expertise to CM Group, as well as nearly 400 new customers, 200 of which are based in the U.S. including the Big Four consulting firms.

CM has also completed a $410 million financing, providing capital for future acquisitions to accelerate growth and provide a technology solution to meet the needs of every marketer.

The acquisition of Vuture bolsters CM Group’s presence in existing markets including London, New York and Sydney. Following the acquisition of Vuture, CM Group will have more than 600 employees and 300,000 customers.

Montecito Medical expands office footprint

Montecito Medical Real Estate, an owner of medical office buildings throughout the U.S., has finalized the acquisition of Murfreesboro Medical Properties, LLC, owner of three-story, 221,000-square-foot Murfreesboro Medical Clinic.

With more than 80 physicians and over 600 employees, the clinic offers services in more than 20 different specialties at the office property. It also houses an ambulatory surgery center and radiology department. a top-tier medical office building in Murfreesboro that is home to one of the state’s largest multispecialty physician groups.

Montecito now owns medical office buildings in Middle Tennessee totaling 410,880 square feet. Additional properties are Premier Medical Group in Clarksville, Mt. Juliet Physicians Plaza, St. Thomas, Bellevue and St. Thomas, Mt. Juliet.

MILES Express expands into Colorado markets

Franklin-based car wash brand MILES has announced its expansion into Colorado via a licensing agreement, with two locations in the Denver and Colorado Springs areas set to open in 2020.

The Colorado locations will be the first branded license turnkey expansion for MILES, which began in Franklin in 2007, when Miles Johnson, the company’s founder and a former telecommunications executive turned entrepreneur, opened his first full-service Auto Spa.

Asurion recognized for diversity leadership

Asurion, the global leader in helping people unlock the potential of technology, has been named a 2019 DiversityInc Noteworthy Company in recognition of its rising national leadership in fostering a diverse and inclusive workplace culture.

The DiversityInc Top 50 list, issued yearly since 2001, recognizes the nation’s top companies for diversity and inclusion management. These companies excel in such areas as hiring, retaining and promoting women, minorities, people with disabilities, LGBTQ and veterans.

Asurion’s 10 Employee Resource Groups have more than 4,500 members across 70 global chapters that help employees across the company to better understand and appreciate colleagues with different backgrounds and experiences.

In 2018 Asurion launched unconscious bias education for employees, and across the company more than 2,000 of our employees have attended these education sessions and our LGBTQ+ inclusion education sessions.

Leadership Donelson-Hermitage rebrands

Leadership Donelson-Hermitage, the leadership development organization for those who live or work in the Donelson, Hermitage and Old Hickory areas, has celebrated its 20th anniversary with a new name and revised mission.

L’Evate: A Leadership Community is the rebranded name, and the revised mission is to serve business professionals within a greater geographic footprint.

“Leadership Donelson-Hermitage has done so much for so many people in our community since its founding in 1999, and that so much has changed many lives,” said Deann Bradford, executive director of L’Evate. “Many are able to live, work, play and raise families in a community that they have had a hand in creating, growing and prospering. With the influx of new opportunities in Nashville – those in business, education, health care, education and recreation – the new name and expanded service area will allow this organization to grow even more in the next 20 years.”

Since its founding in 1999, L’Evate has helped to provide leadership development for more than 550 business professionals. L’Evate is also home to the M3 (Modern, Mature and Motivated) program, which serves to give active senior adults the opportunity to impact the community, as well as YELL (Youth Excelling in Learning Leadership), giving high school juniors the opportunity to explore business and career opportunities for their future. The expanded services lines for L’Evate now include parts of Antioch and City Side, the area on Lebanon Road connecting Donelson to downtown Nashville. Bradford expects the business professionals in the extended boundaries to be excited about the new opportunities afforded them by these changes.

Federal grant to help TN fight opioid crisis

The Health Resources and Services Administration’s Federal Office of Rural Health Policy awarded $24 million to 40 states for the second round of Rural Communities Opioid Response Program planning grants.

Tennessee will receive four awards totaling $800,000 for one year to formalize partnerships with local stakeholders, conduct needs assessments, and develop plans to implement and sustain substance use disorder, including opioid use disorder, prevention, treatment and recovery interventions.

Rural communities also face workforce shortages, geographic barriers, limited treatment infrastructure, and stigma associated with substance use disorder and opioid use disorder.

Insequence moves into European market

Insequence, a Smyrna-based provider of automotive software solutions, is deploying its “just in sequence” part delivery system at four Flex-N-Gate facilities in France.

SPD Pro, Insequence’s software solution, is being used to supply automotive parts in sequence to Renault and PSA. One of these four systems has already been successfully installed and is operational.

These implementations will be managed by Insequence Europe Ltd which has steadily increased its presence over the last four years with sites in the UK, Poland, Germany and France.

To prepare for future opportunities in the European market, Insequence is continuing to enhance its technical capabilities with on-site staff, management, development and multilingual technical support. This will enable the company to expand its services to current and future suppliers across Europe.

Soundstripe attracts major investment

Tech-enabled production music startup Soundstripe, a Nashville-based company, has closed its $4 million Series A financing.

Soundstripe offers the most robust and cost-efficient solutions for royalty-free music. The company’s innovation lies with its supply chain for original music. Producing, owning, and distributing its music library directly to filmmakers allows for consistent quality music content and a focus on innovative user experience for the video creator market.

Financing was led by Vocap Investment Partners, a leading venture capital firm focused on Series A stage technology companies.

The investment will allow Soundstripe to continue expanding its presence in the production music space, where its unique subscription model has resulted in over 2 million “micro-licenses” being issued in over 130 countries since its inception in 2016.

JPW Industries buys Baileigh Industrial

JPW Industries, Inc., based in La Vergne, has acquired Baileigh Industrial Holdings, LLC.

JPW is a manufacturer and distributor of branded metalworking and woodworking equipment and specialty shop tools.

Terms of the transaction were not disclosed. JPW is a Gamut Capital Management portfolio company.

Grimey’s, Parnassus make RAVE list

Grimey’s New and Preloved Music and Parnassus Books have earned spots on RAVE Reviews’ Best Record Shops and Bookstores ranking.

The list is based on advanced data-driven analysis and also celebrates the cluttered, poorly organized system of bookstores and record shops that buck the online shopping trend and offer more of an experience than simply shopping.

“I can spend the better part of a day in a bookstore or record shop, buy nothing, and walk away feeling like the trip was very successful,” says Hillary Miller, managing editor for RAVE Reviews. “We found the places where you can also find that success.”

In determining which stores to feature, RAVE compared reviews from sources across the internet and took into account multiple factors such as the store’s depth and breadth of selection, length of time in business, hosting special events, appearance on similar lists, and more.

Dylan’s TN Straight Bourbon to hit market

Heaven’s Door Spirits is ready to release the final bottles of its 10-year-old 100 proof Tennessee Straight Bourbon, a limited two-barrel lot batch, available next month. The Nashville company was co-created by Bob Dylan.

The bourbon is presented in a commemorative box with a replica of Bob Dylan’s original hand-typed lyrics of “Maggie’s Farm” and “Subterranean Homesick Blues.” These final bottles of Heaven’s Door 10 Year Tennessee Straight Bourbon are available via pre-order on ReserveBar.com and for purchase in stores later that month.

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