Acrisure, High Street among top insurance brokerage buyers in North America
Two of the biggest buyers of insurance brokerages in North America — Acrisure LLC and High Street Insurance Partners Inc. — both hail from Michigan.
Trinity Health lawsuit alleges ‘monopolistic behavior’ by major West Michigan orthopedic practice
GRAND RAPIDS — Trinity Health and four surgeons want a federal court to invalidate non-compete agreements with Orthopaedic Associates of Michigan, claiming they allow the market’s largest orthopedic practice to essentially hold a monopoly over procedures in Kent County.
Port City Ventures invests in Rolar Products amid expansion to new Muskegon-area plant
MUSKEGON — Private equity and venture capital firm Port City Ventures LLC’s capital investment in Rolar Products Inc. will go to support further growth.
New ‘one-stop shop’ business incubator at Grand Rapids Innovation Park set to open for tech entrepreneurs
A new business incubator at Michigan State University’s research campus in downtown Grand Rapids offers a new venue for tech entrepreneurs to nurture their innovations.
Hispanic Center of West Michigan weighs forming CDFI to serve Latinx community
GRAND RAPIDS — A new community development financial institution could form in West Michigan to support Hispanic entrepreneurs.
New initiative helps family business execs hone leadership skills
A new training initiative wants to develop better leaders for family-owned businesses in West Michigan.
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Mercantile, ChoiceOne expand statewide reach with new loan offices
Both Mercantile Bank and ChoiceOne Bank are expanding their geographic reach by opening loan offices in new markets.
Health plan expands care network to West Michigan with new Corewell Health contract
Michigan Capital Network nets $37.5M toward new VC fund
GRAND RAPIDS — Michigan Capital Network netted $37.5 million to date in its drive to raise $50 million for a fourth venture capital fund, a goal that has doubled since fundraising began in early 2022.
Chicago-based CDFI expands reach into West Michigan to support nonprofits
A Chicago organization that provides capital and other support to nonprofits looks to build momentum and reach across the west side of the state after opening an office in Grand Rapids last spring.
New federal exemption unlocks options for small business M&A
A change in federal law opens new options for owners considering the sale of their small business.
Messer to continue leading MEDC under new 4-year contract
Quentin Messer Jr. will remain head of the Michigan Economic Development Corp. under a new four-year contract announced today by Gov. Gretchen Whitmer.
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Survey: Low pay, child care constraints hold back West Michigan labor participation
People in West Michigan indicate that low pay and the inability to find affordable child care are two key factors keeping them out of the workforce.
VC investments up 9% for Michigan companies, despite declining deal volume
Venture capital investors put more money into Michigan-based companies last year, even as deal volume declined.
Davenport University to launch new mental health-focused graduate degrees
CALEDONIA TWP. — Davenport University plans to ramp up academic programs to bring more professionals into the mental health field.
Michigan physicians group wants state to provide financial aid to cope with rising costs
The financial pressures that have many U.S. hospitals and health systems operating at a loss also are battering the finances for physician practices nationwide.
Aspen Surgical taps longtime med device industry exec as new CEO
CALEDONIA — Aspen Surgical Products Inc. has named Steve Blazejewski as CEO as part of an executive succession plan.
West Mich. industrial activity ended 2022 on downward trend, survey finds
West Michigan’s industrial economy ended 2022 in a downward trend.
Proposed FTC rule would ban use of non-competes blocking workers from jobs at competitors
Federal trade regulators want to ban the use of non-compete agreements that some employers use to keep workers from taking a job at an industry competitor.
LMCU branch workers near Grand Rapids vote to unionize
WYOMING — Workers at Lake Michigan Credit Union’s South Division Avenue branch near Grand Rapids have voted to unionize.
Constance Brown Hearing Centers to become part of Bronson Medical Group
Constance Brown Hearing Centers will become part of Bronson Healthcare next week, allowing for easier collaboration and follow-up care between the two organizations.
After exhausting options to shift costs to employees, companies take a broader view on benefits
Larger employers are taking a broader view of their employee benefits. Rather than consider health benefits separate from other benefits, they now look at them together as an entire package in the total compensation they offer.
Michigan Capital Network exec cites signs of resilience in state’s VC, angel investor community
Coming off what Diane Durance calls a “robust” year in 2022, Grand Rapids-based Michigan Capital Network looks to close fundraising in 2023 on a fourth venture capital fund and grow its network of angel investors.
U.S. economic resilience bodes well for ‘soft landing’ in case of mild recession
Economists expect the U.S. to dip into a mild recession around mid-2023, as higher interest rates intended to bring down inflation drag on the economy.
Improving auto sales should prop up Michigan economy, hold employment steady
The auto industry that historically led Michigan’s economy to fall further than the U.S. in national recessions may actually aid the state during a national economic downturn that many economists predict for 2023.
Corewell Health pursues ‘bold vision’ as post-merger integration continues in 2023
Tina Freese Decker led the blockbuster 2022 merger between Grand Rapids-based Spectrum Heath and Beaumont Health in Southfield that created Corewell Health, the largest in-state health system in Michigan with 22 hospitals and about 64,000 employees.
Rocked by unprecedented cost pressures, Michigan hospitals face ‘very, very challenging’ outlook
Health systems across Michigan head toward 2023 facing major financial headwinds from an intensifying worker shortage that has sharply driven up labor costs that cut hard into their bottom lines.
MillerKnoll, Steelcase expect flat to lower sales this quarter as order rates soften
MillerKnoll Inc. and Steelcase Inc. both expect flat to lower sales for the present quarter going into 2023 amid softer order rates.
‘Time will tell’ whether new Sparrow contract boosts Priority Health’s Lansing market share
The new contract with Sparrow Health System provides an opportunity for Priority Health to carve out a much larger presence in the Lansing-area market, although growth may not come easily.
Cannabis banking exec expects Michigan prices to continue falling, more M&A in 2023
Prices in Michigan’s cannabis industry plummeted in 2022, leading to some closures and layoffs, and could fall even further in 2023 as more players enter the business.