Amentum is a premier global technical and engineering services partner supporting critical programs of national significance across defense, security, intelligence, energy and environment. Headquartered in Germantown, Md., the company employs more than 37,000 people in all 50 states and performs work in 105 foreign countries and territories.
Amentum announced today the appointment of John Heller as chief executive officer, effective March 28. The company’s current CEO John Vollmer, who led the organization since its launch in January 2020, will continue with the company as chairman of Amentum’s Board of Directors. Heller previously served as CEO of PAE Incorporated for seven years until March 2021.
”It is an honor to be asked to lead Amentum into the future,” said Heller. “I look forward to building on the many accomplishments under John’s leadership and I am extremely excited about the opportunity to work together with Amentum’s over 50,000 employees to deliver value to our customers in one of the largest and fastest growing service companies in our industry.”
”I am incredibly proud to have led Amentum during its first two critical years, and it has been a privilege to lead such a talented and dedicated workforce who care deeply about our customers and their success,” said Vollmer. “I look forward to continuing to guide Amentum on its journey and am excited to support John as he takes the helm and continues to deliver the best solutions in the industry to our clients.”
Prior to his role at PAE, Heller was President of the Professional Support Services division of L-3 Communications and later was Senior Vice President and COO of Engility Corporation. Earlier in his career, he had served as CEO of Netco, Inc. and then President and COO of Multimax, which was acquired by Harris Corporation in 2007.
Heller is a graduate of the United States Military Academy at West Point and earned a Master of Business Administration from the University of Pittsburgh.
Earlier this week, Germantown-based Amentum announced the $1.9 billion acquisition of PAE Incorporated (“PAE”), a global leader in delivering innovative mission-critical solutions to the U.S. government and its allies on all seven continents.
Neeta Mayur Promoted to Vice President, Revenue Management and Seon Heo Promoted to Vice President of Sales and Marketing
Thomas Penny, III, President of Donohoe Hospitality Services (DHS), a division of Bethesda-based Donohoe, announced the appointments of two vice presidents. Neeta Mayur has been promoted to vice president, revenue management, and Seon Heo has been promoted to vice president of sales and marketing.
Mayur will be responsible for further growing Donohoe’s transient RevPAR index and driving overall share to its portfolio with special attention directed towards ramping up new hotels and assisting challenged properties in her new role. As vice president of sales and marketing, Heo will assist Donohoe’s sales leaders to increase its share of the returning corporate, association, legal, citywide, government and extended stay business.
“With vaccination rates rising and infection numbers stabilizing and, in some cases, dropping, it is time for hoteliers to begin more aggressively planning a return to ‘normalcy’,” Penny said. “To that end, Donohoe continues to reward its long-standing associates who have helped us work through the pandemic to date and prepared us for an increase in business and leisure travel as warmer weather returns. Neeta and Seon have demonstrated their commitment to Donohoe’s values, and I can think of no better way to thank them than with these well-deserved promotions.”
Neeta Mayur—Vice President, Revenue Management
With 20-plus years of hospitality experience across front office operations, reservations, sales & marketing and revenue management, Mayur began her hospitality career with Donohoe in 2010 as a revenue manager at the Holiday Inn Washington Capital – National Mall, an IHG Hotel. Shortly thereafter, her role was expanded to include the Holiday Inn Arlington at Ballston, an IHG Hotel along with offering guidance to other DHS hotels. She was promoted to corporate director of revenue management in 2019 and has been instrumental helping to incorporate 1,135 rooms and seven new dynamic brands into three new submarkets over the past 16 months.
“Over the past decade-plus, I have focused on improving revenue management throughout our portfolio,” Mayur said. “I plan to use my new position and regional market knowledge to pursue demand-generating events and larger accounts as the industry and region rebound.”
Seon Heo—Vice President of Sales and Marketing
A 16-year hospitality veteran, Heo joined Donohoe Hospitality Services in 2020 from PM Hotel Group where she served as vice president of sale and marketing. During her tenure with Donohoe, she has played an active role in talent acquisition and providing strategic guidance and mentorship to the company’s sales leaders. Additionally, she has supported efforts to pursue major group contracts, as well as maximizing the use of technology and brand tools to effectively monetize the business. She has experience in full-service, upscale boutique, specialty select and extended-stay properties. Heo has held sales and marketing positions with such well-regarded hospitality groups as Hersha Hospitality Management and The Doyle Collection.
“While group and catering business have yet to return to 2019 levels, I continue to support our corporate and property efforts to maximize the opportunities our hotels have in their respective markets,” said Heo. “I enjoy working closely with our property leaders and intend to drive revenue generation while meeting both Donohoe’s and our ownership groups’ objectives. As the light at the end of the tunnel comes into sharper focus, I look forward to advancing Donohoe further into the next phase of the economic cycle.”
Immunizations with Nuvaxovid™ to begin in coming days
Gaithersburg-Based Novavax has started shipping its Nuvaxovid Covid-19 vaccine to European countries, according to a press release from earlier this week.
Novavax and the European Commission have an advance purchase agreement for up to 100 million doses of Nuvaxovid with the option for an additional 100 million doses (up to 200 million doses total).
Nuvaxovid “provides a differentiated option to bolster vaccination rates across Europe,” said Stanley C. Erck, President and Chief Executive Officer, Novavax. “Nuvaxovid has demonstrated efficacy, a reassuring safety and tolerability profile, and is built on a well-understood protein-based vaccine platform used for other vaccines for decades.”
Full press release below:
GAITHERSBURG, Md., Feb. 23, 2022 /PRNewswire/ — Novavax, Inc. (Nasdaq: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, today announced the first doses of Nuvaxovid™ COVID-19 Vaccine (recombinant, adjuvanted) have begun shipping to European Union (EU) member states. Nuvaxovid, also known as NVX-CoV2373, is the first protein-based COVID-19 vaccine authorized for use in Europe.
Local test and release procedures were completed and Nuvaxovid doses are shipping from Novavax’ Netherlands distribution center to EU member states beginning this week. The first wave of shipments includes several countries, such as Germany, France and Austria. Shipments to additional EU member states are expected to quickly follow.
“Today’s announcement paves the way for vaccination with Nuvaxovid to begin in Europe within the coming days. The Novavax COVID-19 vaccine provides a differentiated option to bolster vaccination rates across Europe,” said Stanley C. Erck, President and Chief Executive Officer, Novavax. “Nuvaxovid has demonstrated efficacy, a reassuring safety and tolerability profile, and is built on a well-understood protein-based vaccine platform used for other vaccines for decades.”
The European Commission (EC) granted conditional marketing authorization (CMA) for Nuvaxovid for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 18 years of age and older. The authorization followed the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) recommendation to authorize the vaccine and is applicable in all 27 EU member states. Novavax expects to submit its regulatory filing for a pediatric indication in adolescents aged 12 through 17-years to global regulatory authorities, including EMA, during the first quarter of 2022.
Novavax and the EC have an advance purchase agreement for up to 100 million doses of Nuvaxovid with the option for an additional 100 million doses (up to 200 million doses total). Through the second quarter, Novavax has received a commitment for orders from the EC totaling 69 million doses. The initial doses were manufactured by Novavax’ partner, the Serum Institute of India, the world’s largest vaccine manufacturer by volume. Information about dose administration will be available through each member state.
For more information on Nuvaxovid, including the European approved Product Information, European approved Consumer Medicines Information and Important Safety Information, or to request additional information, please visit the following websites:
The brand name Nuvaxovid™ has not yet been authorized for use in the U.S. by the FDA.
Authorized Use of Nuvaxovid™ in the European Union
European Commission has granted conditional marketing authorization for Nuvaxovid™ COVID-19 Vaccine (recombinant, adjuvanted) for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 18 years of age and older.
Important Safety Information
- Nuvaxovid™ is contraindicated in persons who have a hypersensitivity to the active substance or to any of the excipients
- Events of anaphylaxis have been reported with administration of COVID-19 vaccines. Appropriate medical treatment and supervision should be available in case of an anaphylactic reaction
- Anxiety-related reactions, including vasovagal reactions (syncope), hyperventilation, or stress–related reactions may occur in association with vaccination as a response to the needle injection. It is important that precautions are in place to avoid injury from fainting
- Vaccination should be postponed in individuals suffering from an acute severe febrile illness or acute infection
- Give Nuvaxovid with caution in individuals receiving anticoagulant therapy or those with thrombocytopenia or any coagulation disorder (such as haemophilia) because bleeding or bruising may occur following an intramuscular administration in these individuals
- The efficacy of Nuvaxovid may be lower in immunosuppressed individuals
- The duration of protection afforded by the vaccine is unknown as it is still being determined by ongoing clinical trials
- Individuals may not be fully protected until 7 days after their second dose. As with all vaccines, vaccination with Nuvaxovid may not protect all vaccine recipients
- The most common adverse reactions observed during clinical studies (frequency category of very common ≥ 1/10), were headache, nausea or vomiting, myalgia, arthralgia, injection site tenderness/pain, fatigue and malaise
About NVX-CoV2373
NVX-CoV2373 is a protein-based vaccine engineered from the genetic sequence of the first strain of SARS-CoV-2, the virus that causes COVID-19 disease. NVX-CoV2373 was created using Novavax’ recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is formulated with Novavax’ patented saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies. NVX-CoV2373 contains purified protein antigen and can neither replicate, nor can it cause COVID-19.
Novavax’ COVID-19 vaccine is packaged as a ready-to-use liquid formulation in a vial containing ten doses. The vaccination regimen calls for two 0.5 ml doses (5 mcg antigen and 50 mcg Matrix-M adjuvant) given intramuscularly 21 days apart. The vaccine is stored at 2°- 8° Celsius, enabling the use of existing vaccine supply and cold chain channels. Use of the vaccine should be in accordance with official recommendations.
Novavax has established partnerships for the manufacture, commercialization and distribution of NVX-CoV2373 worldwide. Existing authorizations leverage Novavax’ manufacturing partnership with Serum Institute of India (SII), the world’s largest vaccine manufacturer by volume. They will later be supplemented with data from additional manufacturing sites throughout Novavax’ global supply chain.
About Matrix-M™ Adjuvant
Novavax’ patented saponin-based Matrix-M™ adjuvant has demonstrated a potent and well-tolerated effect by stimulating the entry of antigen-presenting cells into the injection site and enhancing antigen presentation in local lymph nodes, boosting immune response.
About Novavax
Novavax, Inc. (Nasdaq: NVAX) is a biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The company’s proprietary recombinant technology platform harnesses the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. NVX-CoV2373, the company’s COVID-19 vaccine, has received conditional authorization from multiple regulatory authorities globally, including the European Commission and the World Health Organization. The vaccine is also under review by multiple regulatory agencies worldwide. In addition to its COVID-19 vaccine, Novavax is also currently evaluating a COVID-seasonal influenza combination vaccine in a Phase 1/2 clinical trial, which combines NVX-CoV2373 and NanoFlu, its quadrivalent influenza investigational vaccine candidate. These vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.
Viswanathan co-founded the company in 2016 and previously served as President
Appointment ushers in new growth phase for Truepill following $142M Series D, $1.6B valuation, and launch of innovative suite of COVID-19 solutions
Sid Viswanathan is a 2002 graduate of Watkins Mill High School. He first made waves when he founded CardMunch– a business-card scanning app that was acquired by LinkedIn.
After its acquisition, Viswanathan joined LinkedIn as Product Manager and saw CardMunch named one of Time Magazine’s Best Apps of 2012.
Sid later co-founded Truepill in 2016 with the core belief that technology could revolutionize healthcare by putting the patient front and center for the first time.
“From the very beginning, our vision has been to create a world where healthcare is accessible and convenient for everyone, “ said Viswanathan. “I’m honored to continue deepening Truepill’s work, partnering with industry leading organizations to create solutions that raise the bar for consumer expectations and empower everyone with access to the care they deserve.”
Mark Cuban recently launched his online pharmacy, known as Mark Cuban Cost Plus Drug Company (MCCPDC), as part of an ongoing effort to provide consumers with low drug prices. The pharmacy is powered by Truepill’s digital health platform and relies on its nationwide pharmacy footprint to fill and deliver prescriptions.
The full press release on Sid Viswanathan’s appointment as CEO of Truepill can be seen below:
SAN MATEO, Calif., Feb. 24, 2022 (GLOBE NEWSWIRE) — Truepill, the digital health platform connecting telehealth, diagnostics, and pharmacy infrastructure to transform consumer healthcare, today announced the appointment of Sid Viswanathan as Chief Executive Officer to lead the company in its next phase of growth. Viswanathan has served as President of Truepill since he co-founded the company in 2016 and will assume day-to-day operations, effective immediately. Umar Afridi, Truepill co-founder and former CEO, will continue to support the company in a strategy-focused capacity and through his seat on Truepill’s board of directors.
Truepill was founded with a mission to transform consumer healthcare. The company shipped its first prescription in 2016 and has since expanded its services to include telehealth, diagnostics and pharmacy — making Truepill the only company to deliver all elements of digital healthcare within one platform. Truepill now works with a range of industry leaders — from disruptive consumer health brands to the nation’s largest health plans and life sciences companies — to create innovative solutions that deliver convenient and accessible care to consumers.
Viswanathan’s appointment continues a period of transformative growth for Truepill:
- Closed a $142 million Series D funding round, with a $1.6 billion valuation.
- With the new investment, Truepill is focused on extending its reach and deploying its services across all facets of healthcare, working with health plans, health brands, life sciences companies, health systems, government agencies, employer groups, school systems and more.
- Launched three ground-breaking COVID-19 digital health solutions:
- COVID-19 testing platform that provides a flexible, scalable solution, enabling organizations to meet all of their COVID-19 test purchasing, reporting and program management needs through a single platform.
- COVID-19 virtual care platform that provides patients with on-demand telehealth consults and next-day home delivery of COVID-19 oral antiviral medication.
- COVID-19 test coverage platformthat enables insurers and commercial health plans to meet government reimbursement requirements, increasing access to over-the-counter, at-home COVID-19 tests and mitigating community spread.
- To date, Truepill has processed more than two million diagnostic tests, shipped over 10 million prescriptions, and facilitates up to 50,000 telehealth visits per week.
“Sid’s leadership and vision are transforming the digital health space, pioneering a long overdue shift to consumer-centric care,” said Annie Lamont, Managing Partner at Oak HC/FT, Truepill Board of Directors. “We know that Truepill is just getting started, and look forward to their continued success as Sid leads the company through its next phase of growth.”
Viswanathan started his career in Johnson & Johnson’s Global Operations Leadership Development program, working in the medical device and pharmaceutical sectors. He went on to found CardMunch, a business-card scanning app that was acquired by LinkedIn. After its acquisition, Viswanathan joined LinkedIn as Product Manager and saw CardMunch named one of Time Magazine’s Best Apps of 2012. Long a proponent for equitable access to healthcare, and seeing the need for a more connected, convenient care experience, Sid co-founded Truepill in 2016 with the core belief that technology could revolutionize healthcare by putting the patient front and center for the first time.
“From the very beginning, our vision has been to create a world where healthcare is accessible and convenient for everyone, “ said Viswanathan. “I’m honored to continue deepening Truepill’s work, partnering with industry leading organizations to create solutions that raise the bar for consumer expectations and empower everyone with access to the care they deserve.”
To learn more about Truepill, visit truepill.com.
About Truepill:
Truepill powers the future of consumer healthcare, connecting telehealth, diagnostic, and pharmacy infrastructure to create innovative solutions for leading companies. Truepill enables its partners to deliver convenient and accessible care to consumers and provides the building blocks needed to launch and scale world-class healthcare experiences. Founded in 2016, Truepill’s expansive suite of customizable, direct-to-patient solutions includes nationwide prescription fulfillment and delivery, a US-based network of licensed telehealth providers, an at-home lab testing network, white label packaging, product design and more. With seven owned and operated pharmacies, Truepill accreditations include URAC accredited mail order pharmacy, URAC accredited specialty pharmacy, NABP and Digital Pharmacy Accreditation. Learn more at www.truepill.com.
The Aquilino Cancer Center, part of Adventist HealthCare’s Shady Grove Medical Center, is the first free-standing community cancer center in Montgomery County, MD that houses all patient services under one roof. Within Aquilino, is the Bill Richards Center for Healing, named for William (Bill) Richards, PhD, a world-renowned pioneer in the treatment of the depression and anxiety that frequently accompanies a cancer diagnosis.
On February 2nd, the center announced it received two significant donations totaling $1.5MM to continue its pioneering research and innovative therapies. Long-time supporters of Shady Grove Medical Center, Mike and Amy Aquilino are among the healing center’s most ardent supporters and the force behind naming the center to honor Dr. Richards.
Working together, Adventist HealthCare and Sunstone Therapies, a startup launched to treat both the physiological and psychological manifestations of cancer in the same location, are leading the way toward a new paradigm for how cancer is treated. They are propelling forward the revolutionary idea that a patient’s mental and physical health are intertwined and should be treated holistically.
The Bill Richards Center for Healing is a purpose-built space designed to help patients and their families cope with the psychological effects of cancer, even as the patient follows state-of-the-art clinical treatment protocols. In keeping with its whole-person, integrative approach, the center offers wellness programs, nutrition counseling, expressive arts therapy, exercise and mindfulness.
The Center also was the first community health center to receive FDA approval for clinical trials for the efficacy of group administration of psilocybin for the treatment of depression. During the trials, psilocybin was administered by clinicians to patients who are supported during treatment sessions by specially trained therapists.
To date, results are impressive. Dr. Mannish Agrawal, lead researcher, reports that 50% of participants in the study were in complete remission from their depression 8 weeks after their treatment. Fully 80% of participants saw at least a 50% drop in their depression scores.
“The groundbreaking research undertaken at the Aquilino Cancer Center, combined with state-of-the art clinical techniques and programs that reinforce the importance of self-care through proper nutrition, exercise, music, art, and meditation is part of our mission in motion,” shared Mary Greenberg, Vice President, Service Lines & Business Development with Adventist HealthCare. “Also of note, the center was made possible by the generous donations of people passionate about ensuring cancer patients have access to the best possible care,” adds Ms. Greenberg.
For more information about services and trials at the Aquilino Cancer Center visit AquilinoCancerCenter.com.
About
Adventist HealthCare, based in Gaithersburg, MD, is one of the longest serving health systems in the Washington, D.C., region. It includes Shady Grove Medical Center, Aquilino Cancer Center, White Oak Medical Center, Fort Washington Medical Center, Adventist HealthCare Rehabilitation, Home Care Services, Adventist Medical Group, Imaging and Urgent Care. Our mission is to extend God’s care through the ministry of physical, mental and spiritual healing.
Elys Game Technology, an interactive gaming and sports betting technology company, earlier this week announced an agreement for The Cloakroom (“Cloakroom”) to operate a sportsbook with located at 476 K St. NW, Washington DC, 20001. The Cloakroom is a gentleman’s club that is co-owned by Montgomery County native and resident Tony Cavasilios. “I’m bringing something to our region that has not been done anywhere. This will be the first Gentleman’s club in the country that will have a sports book inside of it.” said Cavasilios.
The partnership with Cloakroom would represent the Company’s second successful execution of its strategy to offer advanced betting technology through a white label sportsbook solution in restaurant and bar venues. Elys launched its small business strategy in October 2021 with the Grand Central Restaurant and Sportsbook (“Grand Central”) in the Adams Morgan area of Washington, DC. Since then, metrics sequentially for October, November, and December have shown significant growth period-over-period for both Elys and Grand Central.
“We are thrilled to begin working with Elys Game Technology and their incredible team, and look forward to a profitable and successful partnership,” stated Cavasilios. “We expect the Cloakroom’s new partnership with Elys and USBookmaking to drive revenue for both parties, as well as increase food and beverage sales and customer loyalty within our establishment. We believe the Cloakroom will be the first adult entertainment venue operating a Class B licensed sports wagering business in the U.S., and very proudly welcome all to visit our new sportsbook floor opening soon.”
“We are very pleased with the commitment that the Cloakroom ownership and management team have made to bring this exciting opportunity forward with Elys and USBookmaking. We are equally delighted to have worked closely with DC regulators to develop a simplified application model that would permit several small business applicants in the District of Columbia to enjoy the business benefits that a professionally operated sportsbook solution could add to their establishments,” commented Michele Ciavarella, Elys Executive Chairman. “This solution could bring an ancillary revenue stream, offer employment opportunities and significantly drive patron engagement and loyalty, while potentially increasing core business sales when customers come for sports driven events and stay for the energetic atmosphere. We believe that with their attention to customer service, the Cloakroom could see a significant benefit to their overall business with Elys’ turnkey Small-Business Sportsbook. With our robust pipeline of businesses in DC, Maryland and neighboring states, we expect to see a rapid expansion to multiple locations and a continued growth trend in gross gaming revenue from small business deployments for the foreseeable future.
Back in April 2021, Matan Companies announced plans to transform its Milestone Business Park in Germantown into a vibrant and collaborative life sciences destination known as Milestone Innovation Park.
The transformation will include the addition of 532,000 square feet of best-in-class bio-manufacturing and life science research space in three, brand new facilities. Milestone Innovation Park is located at Milestone Center Ct near William B. Gibbs Elementary School and sits along the I-270 Biotech Corridor with prominent visibility on I-270 at Father Hurley Boulevard in Germantown. Once complete Milestone Innovation Park will be one the largest, science-based destinations in the BioHealth region at over 1.2 million square feet.
“This is not a simple rebranding or office conversion,” said Mark Matan of the Matan Companies. “We are going to deliver three, next generation biomanufacturing and research buildings. Milestone already consists of 40% research, development, and tech manufacturing users, so this is a natural evolution. The existing Class A office space will allow for co-location of collaborative, synergistic users to support the research, production, supply-chain, technological needs, and administrative support of the rapidly evolving life sciences industry”.
The project has been slated to break ground early this year and be fully complete by summer 2023, this will be the premier location for companies with large research and bio-manufacturing requirements. Fronting I-270, the development offers 33’ clear ceiling heights to accommodate a wide array of bio users and their supply chain, as well as 40’x40’ column spacing and significant floor loads to support their mezzanine requirements. Tenants can expect ample parking and loading spaces, solar vehicle charging stations and secure outdoor equipment areas.
“As Montgomery County’s BioHealth region continues to mature from early stage to large scale commercialization, there is a burgeoning demand for facilities that are more technical in nature to meet tenant’s biomanufacturing production needs,” said Pete Briskman, Broker Lead for JLL’s Maryland Region. “Milestone Innovation Park will fit this immediate need and will help further solidify Maryland as one of the country’s top BioHealth clusters.”
Matan intends to take advantage of Montgomery County’s new “Speed to Market” initiative. This new program will provide a more streamlined, concurrent review of the sketch, preliminary, and site plans, saving valuable time for potential new tenants and helping spur new economic and employment growth opportunities in the county.
“The need for Milestone Innovation Park demonstrates how quickly the demand is rising for life sciences companies looking to locate, expand and grow in Montgomery County,” said Benjamin H. Wu, MCEDC President and CEO. “This smart and significant investment by Matan Companies recognizes our fast-paced growth as an international Immunology Capital. Global leaders are drawn to our highly educated workforce and proximity to NIH, the world’s largest federal researcher, and the FDA, the world’s largest federal regulator. The timely completion of Milestone Innovation Park will help create faster access to the biomanufacturing and research space sought out by immunology companies.”
Earlier this week, Germantown-based Amentum announced the $1.9 billion acquisition of PAE Incorporated (“PAE”), a global leader in delivering innovative mission-critical solutions to the U.S. government and its allies on all seven continents.
Amentum is a premier global technical and engineering services partner supporting critical programs of national significance across defense, security, intelligence, energy and environment. Headquartered in Germantown, Md., the company employs more than 37,000 people in all 50 states and performs work in 105 foreign countries and territories.
Earlier this month, we reported the company announced that the U.S. Air Force has awarded DynCorp International LLC, an Amentum subsidiary, a $147 million contract to provide maintenance and sustainment services in support of the U.S. Air Forces in Europe Global Prepositioned Materiel Services program. The contract consists of a base year and eight option years.
Additional information can be found in the press release below:
GERMANTOWN, Md., Feb. 15, 2022 – Amentum, a leading contractor to the U.S. and allied governments, announced today that it has closed its acquisition of PAE Incorporated (“PAE”), a global leader in delivering innovative mission-critical solutions to the U.S. government and its allies on all seven continents.
The combination with PAE adds to and enhances Amentum’s industry-leading capabilities, including the areas of synthetic training, sensor-based technologies, intelligence, cyber and IT, spectrum and electronic warfare, secure satellite communication connectivity, space operations, environmental solutions, asset management, and mission support. Additionally, with more than $9 billion of combined revenue over the last 12 months, Amentum’s scale and diversity is further distinguished among leading solution providers for the U.S. government.
“Acquiring PAE is a meaningful step forward in our commitment to being the best partner to our clients,” said John Vollmer, Amentum’s CEO. “We look forward to bringing the best people and the most differentiated solutions to support our clients’ success across defense and civilian agencies, while accelerating our growth in intelligence and technology services.”
The all-cash transaction for all outstanding shares of common stock of PAE is valued at approximately $1.9 billion, including the assumption of debt and certain fees.
Bond Vet, a design-forward, tech-enabled brand of veterinary care clinics in New York, will be expanding to the D.C. Metro area with a new location in Bethesda, according to Forbes. It will be taking over a corner location at 7025 Bethesda Row, formerly home to Fitness Resource and a more recent Nook pop-up, where signage has already gone up according to local restaurant owner Wesley Yao.
In October, the company announced a $170 million investment from Warburg Pincus, a leading global growth investor. The funding will be used to expand Bond Vet’s footprint and invest in equipment, training, culture and technology to further improve the clinical experience for veterinarians, pets and pet parents alike. It will also start Bond Vet’s expansion into markets outside of New York, with the upcoming Bethesda location and another new location in the Boston area.
Bond Vet offers a highly flexible, convenient experience for veterinary care, with clinics providing a wide range of appointment options including pre-scheduled appointments, walk-in visits, and telehealth. Its breadth of services spans from wellness checkups and traditional GP offerings to urgent care, such as wound treatment, GI issues and mass removals. Since its inception in June of 2019, Bond Vet has treated more than 40,000 pets in the New York City area.
“The increase in pet ownership, accelerated by the rise of adoptions and need for care during the pandemic has demonstrated an enormous opportunity to improve veterinary services, especially in urgent and emergent cases for pets,” said Mo Punjani, Co-Founder and CEO of Bond Vet. “Bond Vet meets the demand for a high-quality, convenient experience for pet care, supported by our best-in-class technology and standards for medical excellence. The new partnership with Warburg Pincus and the continuing support of our initial capital provider Talisman Capital, will help accelerate our growth and enable us to provide the best experience for our pets, pet parents and our veterinarians in New York and beyond.”
“There is tremendous opportunity ahead, and we are well positioned to change the face of veterinary medicine as we know it. Our goal is to work hard to elevate the industry, and to create the most supportive work environment for our care providers, including our outstanding team of veterinarians, veterinary nurses, veterinary assistants and care coordinators,” added Dr. Zay Satchu, Co-Founder and Chief Veterinary Officer of Bond Vet.
An opening date has not been set as of now.
The US Composting Council recognized a Rockville composting company, Compost Crew, at the USCC’s annual conference in Austin, Texas. At the United States Composting Council achievement awards, the Organics Diversion Program of the Year Award went to Rockville’s Compost Crew.
Ben Parry, Chief Executive Officer, acquired the company in 2018. Compost Crew is based in Rockville, MD and provides collection services throughout the DMV area by supporting community resilience and developing several modular small-scale compost facilities.
Awardees are nominated by peers and honored each year at the US Composting Council’s Annual Conference and Tradeshow. The USCC is proud of the outstanding efforts of this year’s group of distinguished awardees and members.
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
On Sunday, Lockheed Martin Corporation (NYSE: LMT) announced it terminated its agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD).
The decision to terminate the agreement follows the U.S. Federal Trade Commission’s (FTC) lawsuit filed late last month seeking a preliminary injunction to block the acquisition.
“Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government,” said Lockheed Martin Chairman, President and CEO James Taiclet. “However, we determined that in light of the FTC’s actions, terminating the transaction is in the best interest of our stakeholders. We stand by our long heritage as a merchant supplier and trusted partner and will continue to support Aerojet Rocketdyne and other essential suppliers in the Defense Industrial Base still overcoming the challenges of the pandemic.
“Moving forward, we will maintain our focus on the most effective use of capital with the highest return on investment, including our ongoing commitment to return value to shareholders. We remain confident in our company’s strong foundation and growth potential as several exciting projects enter production.
“Finally, I’m proud of the 114,000 patriotic men and women of Lockheed Martin. They have a principled commitment to deliver the highest quality and most effective solutions to our customers. We will continue to support the United States and its allies through our industry leadership and developing the technologies to ensure effective threat deterrence for decades to come.”
