Around the Marketplace

ACQUISITIONS
Cypress Benefit Administrators of Appleton has acquired HDM Benefit Solutions, an Omaha, Nebraska-based third party insurance administrator, in a transaction that principals of both organizations note will bring more product and technology options to HDM clients in Nebraska and other client locations throughout the country. The sale was formalized on July 1, 2008 and is the second Cypress acquisition of an Omaha-based TPA in the past year.

ThedaCare and The Sanders Trust of Birmingham, Ala., announced that they have closed TST’s acquisition and future management of all or portions of five of the six medical office buildings at Appleton Medical Center and Theda Clark Medical Center. The Sanders Trust has purchased and will provide building management of Medical Office Building West, Medical Office Building South, and the Appleton Heart Institute buildings at AMC, the Theda Clark Medical Plaza office building, and the top two floors of the four-story Aylward Surgery Center at Theda Clark in Neenah.It is important to note that ThedaCare will continue to own the land on which each building is built. Tenancy will be restricted to members of the active medical staff at both hospitals and ThedaCare will retain control over which other types of healthcare services and providers will be located in the buildings. The purchase price is just more than $34 million.

NEW CONSTRUCTION
A new Renew Fuel Station began operations in Oshkosh at 1485 South Park Ave. The unattended fuel station features fuels for all gasoline vehicles including, unleaded plus for use in all gasoline vehicles as well as E85 and E20 (with 85 percent and 20 percent ethanol respectively) for flexible fuel vehicles. The station is the second location for Renew in the Oshkosh area. Renew opened their first Oshkosh station on Highway 76 and Highway 41 in the fall of 2005.

Joe Ziegler and Keller, Inc. are in the midst of constructing Blue Hill Cottages on the northeast corner of Blue Hill Ave. and County T in Fond du Lac. Blue Hill Cottages is a 50-unit senior apartment complex with scenic water features. Keller, Inc. will build the 55,000 square foot complex. Construction is expected to be completed in the fall of 2008.

AWARDS
Fitch Ratings pointed to Aurora Health Care’s strong management and integrated system as it announced an upgrade in the ratings on Aurora’s bonds. Fitch upgraded from A- to A its ratings on bonds issued through the Wisconsin Health and Educational Facilities Authority.

Prizes totaling $25,000 were awarded this spring in the 2007/2008 Northeast Wisconsin Business Plan competition, and the Northeast Wisconsin Regional Economic Partnership (NEWREP) wants to get the word out to potential entrepreneurs that it is not too early to be thinking about the next competition cycle. Business plans are a critical tool in the proper planning and launch of new ventures and are the preferred mode of communication between entrepreneurs, innovators and potential investors. The goal of the competition is to encourage the preparation of a business plan for businesses starting out, making significant changes to existing businesses, or launching new products in northeast Wisconsin. Many local economic development organizations offer complimentary services to assist entrepreneurs in developing a business plan. Information is also available by going to www.thenewnorth.com and clicking “NEWREP,” then “business plan contest.”

Governor Jim Doyle presented a $97,237 Workforce Advancement Training (WAT) grant to Fox Valley Technical College to train highly skilled manufacturers in Brillion. The consortium project allows FVTC to enhance Brillion's local manufacturing workforce. The college will provide assessment services and critical core, technical, and supervisory skills training for more than 600 workers at Ariens, Brillion Iron Works, and Professional Plating, Inc.