Ascend Capital Partners, a healthcare focused private equity partnership, has announced that it has acquired a majority stake in Seoul Medical Group (SMG), one of the country’s leading physician-run Independent Physician Associations (IPA) dedicated to providing both high-quality clinical and non-clinical healthcare services to patients. Terms of the transaction were not disclosed. SMG is the…
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Armada Materials launches with Kelso backing, and acquires Volunteer
Armada Materials, LLC, a new infrastructure materials and services company, has announced its formation and its first acquisition. The company was founded by Rob Duke, a veteran of the construction materials industry, along with a group of investors including Kelso & Company, L.P., a middle-market buyout private equity firm. Armada has acquired Volunteer Materials and…
Kezar Life Sciences announces restructuring and leadership changes
Kezar Life Sciences, Inc. (KZR), a biotech company developing treatments for immune-mediated and oncologic disorders, has launched a restructuring program to focus on its clinical-stage programs and extend its cash runway into late 2026. The company expects to achieve important data readouts for its lead candidates zetomipzomib and KZR-261 in lupus nephritis, autoimmune hepatitis and…
Taxi drivers in Northern Ireland face new tax check
Taxi drivers in Northern Ireland who want to renew their licenses will have to prove that they are registered with HM Revenue and Customs (HMRC) from October 2023. The new requirement, which was announced in 2021 and has been implemented in England and Wales since April 2022, aims to “promote tax compliance within the industry…
AHK Designs acquires Victoria Plum in pre-pack deal
Online bathroom retailer Victoria Plum has been acquired by AHK Designs, the owner of e-commerce sites Beds.co.uk and Cox & Cox, in a pre-packaged insolvency deal. The deal, which was completed late on Friday, will save more than 300 jobs at Victoria Plum. The bathroom brand, which was owned by British private equity firm Endless,…
TotalEnergies signs 15-year solar PPA with Saint-Gobain
TotalEnergies has signed a 15-year renewable Power Purchase Agreement (PPA) with Saint-Gobain to supply 100 MW of clean energy from its Danish Fields Solar farm in Texas. The PPA will help Saint-Gobain offset its North American Scope 2 CO2 emissions from electricity by 90,000 metric tons per year. The Danish Fields Solar farm is expected…
John Lewis Partnership chair to leave in early 2025
The John Lewis Partnership has announced that its chair, Dame Sharon White, will leave the business in early 2025. White’s five-year term will come to an end in February 2025, making her the shortest-serving chair in the history of the partnership. The appointment of White’s replacement will be led by Rita Clifton, the John Lewis…
UK government considers banning mobile phones from schools all day
LONDON: The UK government is considering issuing new guidance across England that would recommend banning mobile phones from schools during the entire school day, including break times. However, such a ban would not be enforceable, and it is unclear when the guidance would be published. According to Sky News, this is not the first time…
Saudi Arabia to introduce Alipay+ for Asian tourists
Saudi Arabia is set to offer a new mobile payment and marketing solution for Asian tourists, as part of its efforts to boost its tourism sector and foster closer ties with China. The Saudi Tourism Authority and Ant Group, the parent company of Alipay, have signed a Memorandum of Understanding (MoU) to introduce Alipay+ to…
Uber celebrates 100,000 drivers and £5 billion economic value in the UK
Uber, the ride-hailing giant, has reached a milestone in the UK, with over 100,000 drivers on its platform and an estimated £5 billion in economic value generated by its activity. The company revealed the figures in a report by Public First, which analysed the impact of Uber on the UK’s transport system and economy. The…
Tesla launches updated Model Y in China with new wheel design
Tesla, the U.S. carmaker, announced on Sunday that it has launched a new version of its Model Y in China, with some minor modifications to the car’s exterior and interior. The car has a new wheel design, as shown by Tesla’s official WeChat account. The Model Y, which is Tesla’s most popular car worldwide, still…
Apple to fix iPhone 15 overheating issue with software update
Apple has acknowledged that some users of its latest iPhone 15 models are experiencing overheating problems and said that it will release a software update to address the issue. The iPhone 15 models, which were launched on September 22, 2023, have received complaints from users on Apple’s forums, Reddit, and social media about getting too…