Business Archives - Page 40 of 47

Gaithersburg’s Homespire Mortgage Donates $20,000 To World Central Kitchen To Provide Meals For Ukrainian Refugees Through New Health And Wellness Program

Published May 9, 2022 at 3:21PM | Updated May 10, 2022 at 4:57PM

Gaithersburg-based residential mortgage lender, Homespire Mortgage, announced last week its support of $20,000 for World Central Kitchen (WCK), a not-for-profit organization founded by renowned Chef José Andrés. WCK provides meals for people impacted by natural disasters and other crises around the world. The $20,000 donation was made possible through the success of Homespire MOVE, a new company health and wellness campaign that encourages employees to record their physical exercise, like hiking, biking, swimming and walking. Reaching a combined goal of 100,000 minutes of physical exercise meant the company would contribute financial aid to WCK.

Per the press release: Employees tracked and recorded their total minutes of activity from April 8-29, with the company donating $0.10 for every minute tallied. Homespire’s donation supports WCK’s #ChefsForUkraine response to distribute much needed meals to refugees throughout the nation’s war-torn communities as the organization continues to provide 250,000 daily meals and food kits through its 2,000+ distribution sites in Ukraine.

Germantown’s HealthWell Foundation Launches Fund to Assist Individuals Living with Cardiomyopathy

By MCS Staff

Published May 9, 2022 at 3:03PM | Updated May 10, 2022 at 1:22PM

Medication Copayment and Insurance Premium Assistance Now Available for Medicare Patients

HealthWell, A Germantown-based, nationally recognized, independent non-profit organization founded in 2003, has served as a safety net across over 85 disease areas for more than 727,000 underinsured patients. Since its inception, HealthWell has provided over $2.7 billion in financial support through more than 1.1 million grants to access life-changing medical treatments patients otherwise would not be able to afford.

Kisco Senior Living, Currently Being Constructed Next to LifeTime in Gaithersburg, Announces Donation to the Benjamin Gaither Center

By MCS Staff

Published May 4, 2022 at 7:24AM

The Center will utilize the donation for facility improvements & expansion of culturally enriching programs

Kisco Senior Living, which is currently being constructed next to Life Time in Gaithersburg, and joint venture partners Welltower® (NYSE: WELL) & SHA Capital Partners have announced a donation of $50,000 to the City of Gaithersburg’s Benjamin Gaither Center. The Center will serve residents of Gaithersburg & the surrounding community who are 55 years of age & older, will utilize the donation for facility improvements & an expansion of culturally enriching programs.

Founder and Former CEO of Gaithersburg’s Emergent BioSolutions, Fuad El-Hibri, Has Passed Away at 64

By MCS Staff

Published May 3, 2022 at 4:59PM

Emergent BioSutions released a statement last week mourning the loss of founder and former CEO and executive chairman, Fuad El-Hibri, who died peacefully at home early Saturday surrounded by family and loved ones. Per the statement:

Fuad founded Emergent (then BioPort) in 1998 with a single product, BioThrax® (Anthrax Vaccine Adsorbed), and took the company public in 2006. Having served as CEO for almost 14 years until March 2012, and executive chairman for 10 years until his retirement in March 2022, Fuad was instrumental in growing the company’s portfolio to its current suite of marketed and procured products for a variety of public health threats, including medical countermeasures for anthrax, smallpox, botulism, and chemical warfare agents, as well as overseeing the company’s role in fighting the opioid crisis.

Three Gaithersburg Warehouses Sold For Just Over $51 Million

By MCS Staff

Published May 1, 2022 at 8:49AM

Three Gaithersburg warehouses totaling 200,080 square feet have been purchased by an affiliate of New York’s Brookfield Properties for $51.25 million, According to a recent report by BizJournals. The Reserve Business Center is located at 8791-8797 Snouffer School Road.

Construction on the warehouses was completed and delivered in 2016. Goodman Distribution and Paul Davis are two of the current tenants. According to the report, “Newmark data shows the county’s industrial properties are 97% leased, with many older warehouse properties being converted to lab space, thus making it harder to find available warehouse space.”

New Marriott International Headquarters and Hotel in Bethesda Named Maryland Economic Development ‘Project of the Year’

By Patrick Herron

Published April 27, 2022 at 4:48PM

Marriott International appreciated the award that reflects the detail that went into the project.

“Marriott is excited to move into our new Downtown Bethesda headquarters this summer and to carry on the proud legacy that has been built in Montgomery County, a community we have called home for more than 65 years,” said Carolyn B. Handlon, executive vice president and global treasurer of Marriott International, who accepted the award on behalf of the company. “We’re delighted with the recognition as Maryland’s ‘Project of the Year.’ We believe our new headquarters is truly the right place for our team of associates. We’ll be joining a vigorous and diverse community whose lively urban setting is exciting for all of us. As a proud corporate citizen, you can expect to see us continue to participate, volunteer and contribute to local and state civic life, including through our global social impact and sustainability platform, Serve 360.”

Gaithersburg’s Neuraly Announces Completion of Enrollment in Phase 2 Clinical Trial of NLY01 in Patients with Parkinson’s Disease

By MCS Staff

Published April 22, 2022 at 7:38AM

Novel Approach to Treating PD Being Evaluated as First-of-its-Kind Therapy for Slowing Disease Progression

Neuroprotective Agent Targets Neuroinflammation Triggered by Pathological Activation of Microglia, A Hallmark of Neurodegenerative Diseases

Rockville’s Compost Crew Raises Oversubscribed $5.5M Series A To Accelerate Growth

By MCS Staff

Published April 19, 2022 at 2:49PM

Compost Crew raises oversubscribed $5.5M Series A to accelerate growth

DMV’s food recycling leader secures investments from Lattice Impact Capital and long-time customer Tower Companies

Compost Crew, the Rockville-based largest food scrap recycling company in the Mid-Atlantic, announced the closing of an oversubscribed $5.5M Series A investment to help propel the growth of composting in the greater Washington, D.C.metropolitan area and beyond.

Bethesda’s Hill Street Energy Closes $1.125 Billion Institutional Fund

By MCS Staff

Published April 13, 2022 at 5:35AM | Updated April 13, 2022 at 12:20PM

Late last month the private equity firm announced that it closed on a $1.125 billion institutional fund. The full announcement can be seen below:

Hull Street Energy, LLC (“Hull Street Energy”), the Washington D.C. area-based energy transition investment firm, today announced the final closing of its second institutional fund, Hull Street Energy Partners II, L.P. (the “Fund”). The Fund, which targets investments in the North American power sector as the economy electrifies and decarbonizes, was oversubscribed and closed at its hard cap of $1.125 billion. Hull Street Energy received strong interest from a diverse and highly regarded group of institutional investors, including endowments, foundations, insurance companies, leading consultants, pension plans, funds of funds and family offices.

PSN Group Selects Germantown’s Hughes JUPITER System for Third Satellite Serving Indonesia

By MCS Staff

Published April 13, 2022 at 5:35AM

Pictured from Hughes (standing left to right), Dean Manson, Paul Gaske, Sharyn Nerenberg, Francis Selvadoss, Ramesh Ramaswamy and Vaibhav Magow, with Hughes President and CEO Pradman Kaul (seated left) shaking hands with PSN CEO Adi Rahman Adiwoso, and, behind him, from PSN (left to right), Anggarini Surjaatmadja, Satrio Adiwicaksono and Ravi Talwar.

Hughes ground system to enable 100 Gbps on the Nusantara Lima satellite to help bridge the digital divide

Hughes Network Systems, LLC (HUGHES), a Germantown-based innovator in satellite and multi-transport technologies and networks for 50 years, announced that PT Pasifik Satelit Nusantara (PSN), the oldest private telecommunication and information service provider in Indonesia, selected the Hughes JUPITER™ System to enable services on the Nusantara Lima very high-throughput satellite.

Lerner Family to Explore Selling the Washington Nationals Baseball Franchise

By Patrick Herron

Published April 11, 2022 at 2:36PM | Updated April 11, 2022 at 8:19PM

Update: Sale price of team in 2006 was corrected to $450 million.

The Washington Post has reported that the Lerner family has begun the process of exploring possible changes to the team’s ownership structure, including the possibility of selling the team. Current Chevy Chase resident Ted Lerner, 96, purchased the team from Major League Baseball in 2006 for $450,000,000.