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2018 Outlook: Martin Stein, Blackford Capital

Written by | Sunday, 24 December 2017 17:13 |

Blackford Capital closed on three acquisitions in 2017 through its two private equity finds and sold two companies in what founder and Managing Director Martin Stein said were “phenomenal exits.” Blackford Capital owns 11 companies, nine through the Michigan Prosperity Fund and two through its National Growth Practice. Stein expects the U.S. economy in 2018 to remain in “pretty good” shape, driving growth in Blackford’s portfolio companies. He doesn’t see any downturn ahead for at least another two years.

2018 Outlook: Tom Welch, Fifth Third Bank

Written by | Sunday, 24 December 2017 17:11 |

Tom Welch thinks the U.S. economy in 2018 will perform much as it did in 2017 with steady growth and further tightening of the labor market, the latter of which rates as his biggest concern. He said that, mixed with high business confidence and a boost from the expected passage of federal tax reform, the economy should generate plenty of commercial lending opportunity for Cincinnati, Ohio-based Fifth Third, the deposit market leader in West Michigan. Welsh also believes the Federal Reserve will raise interest rates further in 2018, while inflation should remain relatively low.

Many of the forces that affected banks in 2017 — from rising interest rates and a good economy, to balancing digital technology investments with cybersecurity — remain the top issues bankers must manage in the year ahead.

Since merging into the University of Michigan Health System nearly a year ago, Metro Health has steadily bulked up its clinical services, growing the number of physicians that it employs from 150 to about 270. The opening of a gastroenterology subspecialty clinic that includes five faculty physicians from Michigan Medicine in Ann Arbor who are in Wyoming once a week, the addition of five ICU intensivists, and the formation of a pulmonary division are a few examples of the clinical upgrades Metro Health made in 2017 under the affiliation. Metro Health also launched bariatric surgery at midyear in partnership with physicians at Grand Health Partners in Grand Rapids, and most recently expanded its stroke program with the addition of three specialty physicians. Much more will come in 2018 and in the years ahead, said Dr. Peter Hahn, Metro Health’s chief medical officer.

2018 Outlook: Amy Ritsema, OnSite Wellness LLC

Written by | Sunday, 24 December 2017 17:07 |

A good economy boosts business for Amy Ritsema’s clients, which in turn helps OnSite Wellness LLC. The Grand Rapids provider of workplace wellness services to employers launched a service crafted for small businesses with 100 or fewer employees this year. Co-owner Ritsema bases her optimism for 2018 on what she hears and sees these days from clients. Even if the economy were to slow and dip, Ritsema believes OnSite Wellness will remain on firm ground as employers invest in wellness to contain medical costs.

Annual increases in premiums for employee health coverage were mostly moderate in 2017. It’s a trend from the last few years that Shannon Enders, managing partner at Lakeshore Employee Benefits in Norton Shores, said largely continued for employers who renewed policies for 2018. Enders is also seeing more employers offering various options for employee health benefits, and some are even wondering whether they have gone too far in shifting the costs for health coverage onto employees.

Tasha Blackmon becomes CEO of Cherry Health on April 1, 2018, succeeding long-time chief executive Chris Shea, who retires on March 31. Blackmon will move into the CEO’s position of the largest federally qualified health center in Michigan — with 20 locations in Kent, Barry, Eaton, Montcalm, Muskegon and Wayne counties and some 70,000 patients annually — after serving as chief of operations.

In late 2017, Michigan State University’s College of Human Medicine opened the $88.1 million Grand Rapids Research Center in the city’s downtown. As the medical school now looks to build a larger research base in Grand Rapids in 2018 and beyond, Dean Norman Beauchamp said the center opens opportunities for further partnerships with local care providers and companies not only in medical research but also with businesses that address the economic issues that affect health care.

2018 Outlook: Mina Breuker, Holland Home

Written by | Sunday, 24 December 2017 17:01 |

As baby boomers get older, the demand grows for senior housing and services. In response, Holland Home recently opened a second 15-bed assisted living center at its Breton Woods Campus in Grand Rapids and has plans for an $18 million project at the Raybrook Campus. Holland Home also formed a venture in 2017 with Clark Retirement Community in Grand Rapids and Resthaven in Holland called Atrio Home Care. The Grand Rapids-based organization serves about 4,000 people annually and employs about 1,600 people. Talent is an issue for Holland Home as a good economy tightens the labor market.

The Affordable Care Act withstood repeal efforts in Congress in 2017 and remains law, which has industry watchers doubting we’ll see another full-scale push to repeal and replace the Obama-era health care policy.

As president and CEO of Ada-based construction management firm Dan Vos Construction Co. Inc., Dan Vos would like to continue to see the pro-business philosophy that’s been on display in Michigan for nearly the last decade. Vos generally thinks 2018 will continue the momentum of the past few years, although he harbors some concern over burnout from the firm’s lengthy pipeline of work.

Matt Jones anticipates another banner year for the buying and selling of apartment properties in Michigan and around the Midwest. Jones, the founder and president of Beacon Realty Group LLC, a boutique commercial real estate brokerage practice focused on the multifamily sector, largely foresees a period of continued slow growth with some potential pressure coming from rising interest rates.

With a backlog of construction projects extending out two years at Triangle Associates, Jim Conner feels “cautiously optimistic” heading into 2018. Conner says the company’s diversified clients ranging from education to health care to industrial work should keep it busy even in the event of a downturn.

As a development boom swept through the Grand Rapids area, municipalities have increasingly sought to engage in urban planning initiatives that help guide the investments. That’s translated into steady business for Lynee Wells through 2017 and into the next year. A principal and urban planner with Williams & Works Inc. in Grand Rapids, Wells works closely with municipalities like Caledonia Township and on large-scale redevelopments such as Plaza Roosevelt, a public-private project that will bring a host of new housing and services to the Roosevelt Park neighborhood of Grand Rapids. Wells thinks city and state policies could help fuel more and better development.

Executives at Integrated Architecture had thought 2017 would be a year of “stabilization” and maybe even some slowdown for the firm’s commercial architectural projects. But according to Executive Vice President Mike Corby, that’s not been the case. The Grand Rapids-based firm with a strong focus on mixed-use apartment and commercial buildings sees the momentum only continuing to gain steam.

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