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Tag: Washington D.C.

The Carlyle Group to acquire CNSI

Washington, D.C.-based private equity firm The Carlyle Group announced Thursday that affiliated funds under its management have agreed to acquire McLean-based health information technology provider CNSI.

Financial terms of the transaction, which is expected to close in December, were not disclosed. Greenwich, Connecticut-based firm Alvarez & Marsal Capital Partners currently owns CNSI.

“We believe CNSI is well-positioned for continued success driven by its technical leadership and proven track record of innovation and execution,” Carlyle Managing Director Dayne Baird said in a statement. “CNSI operates at the unique intersection of technology, health care and government services, and we see significant growth opportunities ahead as the company leverages its unique capabilities and continues to develop market-leading solutions.”

Founded in 1994 as Client Network Services Inc., CNSI provides mission-critical systems that are aimed to better process medical claims, billing and health benefits for Medicaid, Medicare and related programs.

Todd Stottlemyer, CNSI’s CEO since 2018, will continue to lead the company. He previously partnered with Carlyle as a senior executive at BDM International Inc.

“We are delighted about this opportunity to partner with Carlyle as we continue to execute exquisitely for our clients, strengthen our market leading products and solutions, and drive innovation that improves health outcomes and lowers costs,” Stottlemyer said in a statement.

The Carlyle Group manages $293 billion of assets across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. It has more than 1,800 employees in 26 offices across five continents. Carlyle reported $1.6 million in revenue for the third quarter of 2021, bringing its year-to-date total to $6.78 million.

ManTech to acquire D.C. tech firm for $350M

Herndon-based tech contractor ManTech International Corp. announced Monday that it has signed a definitive agreement to acquire Washington, D.C.-based Gryphon Technologies from Boca Raton, Florida-based AE Industrial Partners for $350 million.

Gryphon Technologies provides digital and systems engineering capabilities for U.S. Department of Defense agencies, including predictive analytics, data science and cloud engineering.

“This acquisition maps directly to our defense sector expansion strategy of leveraging transformational innovation to advance missions, modernize operations and safeguard military systems and personnel across the DOD landscape,” said ManTech Chairman, CEO and President Kevin M. Phillips said in a statement.

ManTech will gain more than 1,500 employees as well as digital engineering capabilities.

“We are very excited to become a part of ManTech, a recognized leader in supporting national and homeland security,” Gryphon founder and CEO P.J. Braden said in a statement. “This is a great opportunity for our employees, who will benefit from ManTech’s more than 50 years of serving our nation, as well as its advanced professional development and commitment to career enablement.”

ManTech will fund the acquisition from cash on hand, with additional funding from its existing line of credit and delayed draw term loan facilities. The acquisition is expected to be completed by the end of the year.

Founded in 1968, ManTech provides technology solutions for U.S. defense, intelligence and federal civilian agencies. In 2020, ManTech reported $2.5 billion in revenue.

Tamika Tremaglio leaving Deloitte to head NBA players union

Tamika L. Tremaglio is leaving her post as Deloitte’s Greater Washington managing principal to be the executive director of the National Basketball Players Association (NBPA) union at the end of this year.

“I’ve worked with some of the brightest business and legal minds in the world,” she said in a statement. “I’ve broken barriers, challenged misperceptions and, much like the professional athletes I’ve supported over the years, I have defied the odds. I’m incredibly grateful and passionate about this opportunity to serve the players and positively contribute to the role that the NBPA will play in the future of basketball, both on and off the court.”

Tremaglio has served as an adviser and consultant to the NBPA since 2012.

Tremaglio currently oversees more than 14,000 employees across 23 offices in the Greater Washington area, as she has since 2017. She has been with Deloitte since 2010. As a leader in Deloitte’s Consumer Products and Sports Industry practice, she worked with the NBPA on internal business and compliance practices, and in 2019, she advised WNBA players during the successful negotiation of their current collective bargaining agreement. Tremaglio holds law and MBA degrees. She’s been named to Virginia Business’ Virginia 500 two years in a row.

Tremaglio will succeed Michele Roberts, who will retire at the end of the year.

“Tamika has been by our side for many years, advising us on the best practices and policies needed for our organization to operate more like a successful business,” NBPA President CJ McCollum, who plays for the Portland Trailblazers, said in a statement. “Given Michele’s strong leadership and guidance that have brought us to where we are today, we were looking for a next-generation leader, who has the skills, vision and credibility to pick up where Michele will leave off and to elevate our union to even greater heights.”

Established in 1954, the New York-based National Basketball Players Association is the union for current professional basketball players in the National Basketball Association. It advocates on behalf of NBA players through negotiating collective bargaining agreements, filing grievances on behalf of players and counseling players on benefits, as well as educational and post-NBA opportunities.

Va. hotels expect $1.5B loss in 2021 biz travel

The Virginia hotel industry expects to take a $1.5 billion loss this year stemming from sharply reduced business travel — 63.5% below pre-pandemic revenue levels, according to projections released Wednesday by the American Hotel & Lodging Association.

Business travel is expected to generate about $864.5 million for hotels in Virginia for the 2021 calendar year, down from $2.37 billion in 2019, according to the August study conducted for the AHLA by Potomac, Maryland-based Kalibri Labs, a data analytics firm focused on the hospitality industry. “Business travel” in the report refers to corporate, group, government travel, along with business from other commercial categories.

The Washington, D.C., region’s hotel market is expected to end 2021 with $371 million in business travel revenue, down almost 87% from the 2019 total. And the Virginia Beach market is projected to generate $281 million from business travel this year, a decline of about 41% from the area’s 2019 revenue.

“We’re very concerned about the lack of business travel in the state,” Virginia Restaurant, Lodging & Travel Association President Eric Terry said. “That’s what drives hotel profitability. I think it’s going to be a long time before we see the industry recover.”

The national hotel industry’s business travel revenue is projected to be down by more than $59 billion compared with 2019. National business travel revenue was down nearly $49 billion in 2020 and is not expected to reach pre-pandemic levels until 2024, according to the AHLA.

“While some industries have started rebounding from the pandemic, this report is a sobering reminder that hotels and hotel employees are still struggling,” AHLA President and CEO Chip Rogers said in a statement. “Business travel is critical to our industry’s viability, especially in the fall and winter months when leisure travel normally begins to decline.”

Inova Fairfax Medical Campus captures No.1 state ranking

Inova Fairfax Medical Campus unseated University of Virginia Medical Center as the best hospital in Virginia in U.S. News and World Report’s annual list of the best hospitals in the nation, which was released Tuesday. The Inova facility was also ranked as the top hospital in the Washington, D.C. area.

“We are extraordinarily proud to have top-ranked hospitals in both Virginia and the Washington, D.C., region,” said Dr. J. Stephen Jones, president and CEO of Inova Health System, in a statement. “People-centered care and patient safety is at the core of everything we do, and we are grateful that we continue to have the trust and support of our patients and community.”

The 2021-2022 Best Hospitals Rankings used data from 5,000 hospitals and surveys of 30,000 physicians. Nationally, only 175 hospitals ranked in at least one of the 15 specialties assessed. For 12 of the specialties, the rankings are determined by performance data in structure, process and outcomes. For the remaining three — ophthalmology, psychiatry and rheumatology — the rankings rely on expert opinion.

Nationally, the Mayo Clinic in Rochester, Minnesota, ranked No. 1 on the 2021-22 Best Hospitals Honor Roll. The teaching hospital is nationally ranked in 14 adult specialties and eight pediatric specialties. Its department of endocrinology is one of the world’s largest, and the clinic has 57 research centers.

The following are the top hospitals in Virginia:

1. Inova Fairfax Medical Campus, Falls Church

2. University of Virginia Medical Center, Charlottesville

3 (tie). Sentara Norfolk General Hospital, Norfolk

3 (tie). VCU Medical Center, Richmond

3 (tie).Winchester Medical Center, Winchester

6 (tie). Carilion Roanoke Memorial Hospital, Roanoke

6 (tie). Centra Lynchburg General Hospital, Lynchburg

8. Virginia Hospital Center, Arlington

9. Sentara RMH Medical Center, Harrisonburg

10. Inova Fair Oaks Hospital, Fairfax

Inova Fairfax Hospital ranked No. 6 for gynecology and No. 40 for neonatology. It ranked No. 1 in Washington, D.C. and No. 3 in Virginia for children’s care.

Ranked No. 2 in the state, U.Va. Medical Center ranked nationally in five children’s specialties: No. 36 for neonatology, No. 37 for pediatric cardiology and heart surgery, No. 42 for pediatric diabetes and endocrinology as well as for pediatric orthopedics and No. 43 for pediatric urology. It was also recognized as the No. 1 hospital for children’s care in Virginia.

Eric Swensen, a public information officer for UVA Health, said in a statement, “Although it is challenging for any one rating to fully recognize all we do to provide exceptional care for our patients, U.Va. Medical Center has been recognized as high performing in six clinical specialties as well as in 15 common adult clinical conditions and procedures. … We are in the process of reviewing the data and the newly updated methodology U.S. News uses to compile its ratings. Once our review is complete, we will develop a plan that will also allow us to provide even more patients across the commonwealth with excellent, high-quality care.”

Sentara Norfolk General Hospital ranked No. 1 for the Virginia Beach-Norfolk-Newport News area and ranked No. 40 nationally for urology.

Sentara Norfolk General Hospital President Liisa Ortegon said, “We are grateful and encouraged to be recognized once again as the top hospital in Hampton Roads and among the best in the state. We value the trust of our patients and families in our community, and will continue our commitment to being a top provider for complex, specialty care throughout Virginia and northeast North Carolina.”

VCU Medical Center ranked No. 1 in Richmond and No. 2 for children’s care in Virginia. It ranked No. 28 nationally for pediatric urology, No. 30 for pediatric pulmonology and lung surgery, No. 42 for pediatric nephrology and No. 50 for pediatric cancer.

“This recognition is a reflection of the unfailingly kind and extraordinary care we provide as an academic medical center,” said Dr. Arthur Kellermann, CEO of VCU Health System. “It’s an affirmation of our mission to serve everyone and use our clinical expertise, research and teaching efforts to make the highest-quality care and great patient experience accessible and affordable to everyone.”

CoStar to purchase Norfolk-based Homes.com for $156M

CoStar Group Inc. announced Wednesday it has reached an agreement to purchase Homes.com, a division of Norfolk-based Dominion Enterprises, for $156 million in cash.

Homes.com is a residential property listing and marketing portal that brings nearly 1.8 million residential property listings each month to its membership base of more than 500,000 residential real estate agents and brokers. The transaction is expected to close in the first half of 2021, according to Washington, D.C.-based CoStar, which has a significant presence in Richmond. CoStar Group, the nation’s leading provider of commercial real estate information and analytics, employs more than 4,600 people worldwide and manages a portfolio of online services that provide information on the hospitality, rental properties and commercial real estate sectors. CoStar also runs online marketplaces including Apartments.com and LoopNet.

CoStar’s Homesnap, an online and mobile software platform for real estate agents and clients, will be incorporated with Homes.com, CoStar CEO Andrew C. Florance said in a statement. “We believe that the acquisition of Homes.com is highly complementary alongside Homesnap, the industry-leading workflow and marketing platform for residential real estate agents that we acquired in December last year. The combination of Homes.com’s online portal and consumer traffic with Homesnap’s powerful mobile tools and highly effective agent marketing solutions has the potential to create a differentiated service that uniquely focuses on selling a house faster and at a better price, rather than just trying to take agent fees.”

CoStar anticipates the acquisition will contribute about $5 million to $10 million in incremental revenue for the company, and company officials intend to provide more details during a first-quarter investor call scheduled for April 27.

“The Homes.com team and I are looking forward to working with our new colleagues at CoStar,” Dave Mele, president of Homes.com, said in a statement. “Together we will be dedicated to growing the Homes.com brand and building innovative solutions that expand the marketing options available to consumers and their agents.”

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Dominion VP named to board of manufacturers association

The National Association of Manufacturers announced Wednesday that William L. Murray, Dominion Energy Inc.’s senior vice president of corporate affairs and communication, has been named to the NAM board of directors.

“Bill Murray is a recognized leader in our industry, and the NAM will be stronger thanks to his service on our board of directors,” said NAM President and CEO Jay Timmons in a statement.

Founded in 1895 and based in Washington, D.C., NAM is the largest industrial trade association in the United States with more than 14,000 members.

“I am honored to be a part of the NAM Board and continue the pursuit of policies that will ensure the continued growth and success of manufacturers,” said Murray in statement.

Richmond-based Dominion is a Fortune 500 utility with more than 7 million customers in 16 states.

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Metro awards $179M contract to replace escalators

Metro will begin replacing 130 escalators in 32 stations in May, Washington Metropolitan Area Transit Authority (WMATA) announced Tuesday. The transportation authority that runs the Metrorail and Metrobus lines in the Washington area has awarded a $179 million, seven-year contract to KONE, a Finnish elevator and escalator company with its U.S. headquarters in Illinois.

Metro’s oldest escalators average 38 years in service, according to Metro General Manager and CEO Paul J. Wiedefeld. The replacement of the 130 escalators in Metro stations in Northern Virginia, Maryland and Washington, D.C., follows the completion of an eight-year project concluded in 2019 in which 145 escalators were replaced and 153 escalators were renovated. After the completion of this project, 517 of the system’s 618 escalators will have been replaced or renovated since 2011, according to WMATA.

To install the new escalators, KONE will demolish existing escalators and remove the parts, making room for new electrical cables and equipment made specifically for the project. Among the replacements will be four escalators at the Rosslyn station that date to 1977 and rise nearly 10 stories. No more than 18 escalators will be out of service at any one time, according to the statement, and additional scheduling details will be provided later.

More information, including which stations will be impacted, is available here.

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