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byline: Sydney Lake

NYC-based software company acquires Arlington Salesforce developer

New York City-based software company Togetherwork announced Wednesday it has acquired Arlington-based Salesforce developer Fonteva.

Financial terms of the transaction were not disclosed. 

Under the acquisition, Fonteva will operate as a business unit within Togetherwork and be led by Fonteva Chief Revenue Officer Pat McGlynn, who has been named president of Fonteva. The majority of Fonteva’s senior management and staff will remain and operate out of the company’s existing Arlington office.

“The combination of Togetherwork’s resources and product capabilities, particularly in payments, will be a huge win for our customers, our partners and our employees,” Fonteva CEO Jerry Huskins said in a statement. Huskins will leave the company later in 2021, as part of a “planned transition period,” according to a company statement.

Togetherwork is a portfolio company of private equity firm GI Partners and provides digital payment offerings.

“As Togetherwork’s first major acquisition of a company built on Salesforce, it gives us a whole new range of expansion opportunities in all the markets we serve,” Togetherwork CEO Neil Platt said in a statement. “I’m excited to work with Pat and all the Fontevans to continue to build on the success they have had to date.”

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Bon Secours, Sentara join 12 health care organizations forming data company

Bon Secours and Sentara Healthcare announced Thursday they have joined a group of 12 additional health care providers to form a new company, Truveta, which will offer data insights for patient care.

Spurred by the rapid research needed to combat the COVID-19 pandemic, Truveta will create a new data platform using artificial intelligence and machine learning to allow the 14 health care systems to learn from each other and allow for larger populations from which to study health care data. In total, the health care systems provide care for tens of millions of patients and operate thousands of facilities across the U.S. All data will be de-identified to maintain anonymity.

“The COVID-19 pandemic has shown us how much the world needs to learn faster, so we can better serve our communities,” Truveta CEO Terry Myerson said in a statement. “Our vision is to improve lives with data. We want to help researchers find cures faster, empower every clinician to be an expert, and help families make the most informed decisions on their care.”

The group also includes AdventHealth, Advocate Aurora Health, Baptist Health of Northeast Florida, CommonSpirit Health, Hawaii Pacific Health, Henry Ford Health System, Memorial Hermann Health System, Northwell Health, Novant Health, Providence health system, Tenet Health and Trinity Health.

Truveta will be advised by a board of governors and health provider leaders will offer strategic, scientific and operational advice on ethics, health equity, data integrity and clinical outcomes.

“We believe the Truveta platform can help improve health equity and advance personalized medicine,” Myerson said in a statement. We are honored to be partnering with innovative and world-class health providers in this pursuit.”

 

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Chesapeake Economic Development offers extra $1M for small businesses

Through the Chesapeake Economic Development department’s latest $1 million round of COVID-19 grants, small businesses can receive up to $10,000 for reimbursable business expenses related to the pandemic, such as rent, payroll and operating costs.

This marks the department’s third round of Small Business COVID-19 Recovery Grant program funding. So far, the department has disbursed $2.5 million among 260 small businesses in Chesapeake.

“We’re committed to helping our business community find success during these trying times,” Steven Wright, director of economic development for the city of Chesapeake, said in a statement. “We understand the impact our community has felt and we’re working to get more funds to those who need it as quickly as we can.”

Businesses in Chesapeake with fewer than 50 employees are eligible to apply for the funding. There is no deadline to apply, but the program will end after funds are exhausted. Businesses that have received Paycheck Protection Program and/or Economic Injury Disaster Loan funding from the Small Business Administration can apply, but expenditures funded by those programs aren’t eligible to be reimbursed by the Chesapeake program.

To be eligible to apply, business must have the following:

  • Made an effort to remain open, retain employees during pandemic
  • Been registered business since March 1, 2019
  • Be up to date on city of Chesapeake taxes
  • Have fewer than 50 employees
  • Submit notarized affidavit certifying expenses reimbursed by grant proceeds are COVID-19 related

Preference will be given to small, woman and minority owned (SWaM) businesses, veteran-owned businesses and businesses that have “made all efforts to remain open and keep as close to full employment as possible,” during the pandemic.

 

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12 Va. hospitals rank among top in the nation

Healthgrades released its 2021 list recognizing the top 250 hospitals in the United States, and 12 Virginia hospitals made the cut — with two breaking the top 100. The 12 Virginia hospitals are among the top 5% of the nation’s hospitals in terms of rankings.

The only Virginia hospitals to earn a spot in the top 100 (or top 2%) of all U.S. hospitals surveyed were Inova Fairfax Hospital in Falls Church and Sentara Princess Anne Hospital in Virginia Beach.

The America’s Best Hospitals list is based on hospital performance, clinical outcomes, patient safety and patient experience. Nearly 4,500 hospitals across the country are surveyed and analyzed for their treatment of 32 conditions and procedures, including heart attack, heart failure, respiratory failure, sepsis and stroke.

The top hospitals from Virginia (in alphabetical order) are:

  • Bon Secours Memorial Regional Medical Center, Mechanicsville
  • Bon Secours St. Francis Medical Center, Midlothian
  • Chippenham Hospital, Richmond
  • Henrico Doctors’ Hospital, Richmond
  • Inova Alexandria Hospital, Alexandria
  • Inova Fairfax Hospital, Falls Church
  • Inova Loudoun Hospital, Leesburg
  • Johnston-Willis Hospital, Chesterfield
  • Parham Doctors’ Hospital, Richmond
  • Retreat Doctors’ Hospital, Richmond
  • Sentara Careplex Hospital, Hampton
  • Sentara Princess Anne Hospital, Virginia Beach

“Now more than ever, consumers understand the importance of researching hospitals and finding the best organization to meet their health care needs,” Dr. Brad Bowman, Healthgrades’ chief medical officer, said in a statement. “Especially in this era of COVID-19, we commend the recipients of the Healthgrades America’s Best Hospitals Awards for their commitment to providing superior outcomes and keeping their communities safe.”

Inova Fairfax also ranked in the top 50 for best cardiac surgery and top 100 for best cardiac care and stroke care. Sentara Princess Anne earned critical care and stroke care excellence awards.

 

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Initial jobless claims dropped 21.9% last week, but remain elevated

Initial jobless claims filed last week dropped 21.9% from the previous week, but still remain high compared with pre-pandemic levels, according to figures released Thursday by the Virginia Employment Commission.

During the week ending Feb. 6, 14,203 Virginians filed initial unemployment claims, compared to 18,177 from the week prior. 

Last week, 65,091 Virginians remained unemployed, a 3.3% decrease from the previous week, but 43,042 higher than the same period in 2020. People receiving unemployment benefits through the VEC must file weekly unemployment claims in order to continue receiving benefits. 

“The continued claims total is mainly comprised of those recent initial claimants who continued to file for unemployment insurance benefits during the COVID-19 pandemic,” according to the VEC.

More than half of the claimants reported being in the accommodation/food service, administrative and waste services, retail trade and health care and social assistance industries, according to the VEC.

The regions of the state that have been most impacted continue to be Northern Virginia, Richmond and Hampton Roads. 

Below are the top 10 localities, listed by number of initial unemployment claims, for the week ending Feb. 6:

  • Virginia Beach, 674
  • Norfolk, 629
  • Fairfax County, 588
  • Richmond, 587
  • Prince William County, 440
  • Portsmouth, 377
  • Chesapeake, 356
  • Newport News, 327
  • Alexandria, 316
  • Hampton, 290

Nationwide, the advance figure for seasonally adjusted initial claims last week was 793,000, a decrease of 19,000 from the previous week’s revised level, according to the U.S. Department of Labor. There were 219,601 initial claims during the same week last year.

 

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Sentara Norfolk General Hospital names new president

Norfolk-based Sentara Healthcare announced Wednesday it has hired Liisa Ortegon as the new president of Sentara Norfolk General Hospital, one of the state’s largest hospitals. She replaces Carolyn Carpenter, who left to join Johns Hopkins Health System as its capital region president.

Ortegon most recently served as senior vice president of operations and chief nursing executive at Houston Methodist Hospital, Texas Medical Center, a 1,000-bed academic medical center affiliated with New York’s Weill Cornell Medical College.

Sentara Norfolk General Hospital has 525 licensed beds and in 2018 generated nearly $1 billion in net patient revenue. With 29 years of health care experience, Ortegon has also served as chief nursing officer (CNO) for 12 HCA hospitals and CNO with chief operating officer duties for HCA Horizon Medical Center in Nashville, Tennessee. Sentara Healthcare includes 12 hospitals in Virginia and North Carolina, more than 300 care sites and 30,000 employees.

“I have always believed patients are at the center of everything we do and I was delighted to learn Sentara’s mission and values were very much aligned with mine,” Ortegon said in a statement. “I know that together we will continue to improve health, and health care, in our corner of the world.”

Ortegon earned her bachelor’s degree in nursing from the University of Texas, her master’s degree in administration from the University of the Incarnate Word in San Antonio and her doctorate in business administration from Northcentral University in San Francisco. She also earned an executive certification from the Wharton School of Business.

 

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Startup PPE manufacturer settles in Harrisonburg

Startup manufacturing company Valley Guard Supply LLC will invest $1 million to establish a personal protective equipment manufacturing facility in Harrisonburg, creating 45 jobs, Gov. Ralph Northam announced Wednesday.

The service-disabled, veteran-owned company produces three-ply disposable masks and plans to produce other safety and security gear, according to Northam’s statement.

“Domestic manufacturers of personal protective equipment are critical as we battle this global pandemic, and we thank Valley Guard Supply for answering the call right here in Virginia,” Northam said in a statement. “The company’s new Harrisonburg operation will play an important role in localizing our supply chain and keeping health care workers and citizens safe.”

Valley Guard Supply was founded by James Madison University alumni in April 2020. The company has leased a facility, is purchasing machinery and hiring full-time staff. The company plans to donate masks to local nonprofits and community organizations.

“Without a doubt, talent was the driving force behind Valley Guard Supply’s decision to locate its ‘Made in the USA’ operation in Harrisonburg,” Andy Perrine, strategic adviser at Valley Guard Supply, said in a statement. “James Madison University’s ranking as Virginia’s best school for getting a job and the university’s programs teaching innovation — most notably JMU X-labs — gives the company great confidence that our plans for growth and expansion can rely on a steady stream of top talent.”

The Virginia Economic Development Partnership (VEDP) worked with the city of Harrisonburg to secure the project for Virginia. The VEDP also connected Valley Guard Supply with GenEdge, which approved the company for the GO Virginia-funded Retooling Virginia Manufacturers for Strategic Industries Program. VEDP’s Virginia Jobs Investment Program will also provide job creation support.

 

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Perspecta wins $201.5M defense contract

The Defense Information Systems Agency awarded Chantilly-based federal contractor Perspecta Inc. a $201.5 million contract to provide content delivery services, the Department of Defense announced Tuesday.

Under the contract, Perspecta will perform work at government data centers both in the United States and worldwide. 

The Defense Information Technology Contracting Organization received four offers for the contract, according to the DOD. The company has not released further details about the contract.

In late January, Perspecta announced it would be acquired for $7.1 billion by Herndon-based national security contractor Peraton, an affiliate of private investment firm Veritas Capital, in an all-cash deal. Perspecta will combine with Peraton under the transaction, which is expected to close during the first half of 2021. 

Perspecta employs more than 14,000 workers and won several large federal contracts this past year, including an $824 million, five-year deal with the National Geospatial Intelligence Agency.

 

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Va. bank is first to allow customers to buy, redeem bitcoin at ATMs

With cryptocurrency use on the rise, customers of Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, will now be able to purchase and redeem bitcoin at its ATMs, making them the nation’s first commercial bank to do so, the company announced Wednesday.

Blue Ridge Bank cardholders can purchase and redeem bitcoin at 19 locations across the state, including its branch locations and offsite ATMs. The bank has partnered with Woodstock-based BluePoint ATM Solutions and Boston-based bitcoin ATM software provider LibertyX for the new service. Customers will still have access to traditional ATM services.

Cryptocurrencies such as bitcoin are an alternative to conventional currency, but its value fluctuates. As of Feb. 10, one bitcoin is worth approximately $45,000. At the end of January, one bitcoin was worth about $30,000. Since the pandemic’s effects began being felt in March 2020 (when bitcoin was worth $6,000 apiece), the value of bitcoin has been on a relatively steady incline. Business leaders such as Elon Musk of Tesla and Michael Saylor of Tysons-based MicroStrategy have recently invested billions of dollars in bitcoin. Bitcoin is a “dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash,” Saylor said in an August 2020 statement.

Bank of New York Mellon Corp., the oldest U.S. bank, also announced Thursday that it soon plans to hold, transfer and issue bitcoin and cryptocurrencies for customers.

Blue Ridge Bankshares also recognizes the new focus on cryptocurrency.

“Blue Ridge Bank is excited to continue its evolution to serve the growing needs of our current and future customers,” Blue Ridge Bankshares Inc. CEO Brian K. Plum said in a statement. 

“We predict that more community banks and credit unions will demand innovative fintech solutions like this at their branches, and we are excited to be a leader in this space,” BluePoint ATM Solutions CEO Wade Zirkle added.

Earlier this month, Blue Ridge Bankshares announced it had completed a merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The combined bank has approximately $2.8 billion in assets, $2.1 billion in loans and $1.9 billion in deposits, based on Sept. 30, 2020 data. This ranks the bank No. 4 in the state for community bank deposit market share for institutions under $10 billion in assets, according to the bank’s August 2020 announcement.

 

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Four community banks launch $1M minority business fund

The Bank of Clarke County announced Tuesday the launch of the Banking on Diversity initiative, a minority business funding program backed by Bank of Clarke County, BCT-Bank of Charles Town, The Fauquier Bank and First Bank.

The four community banks have collectively committed up to $1 million in interest-free loans to help startup and existing minority-owned small businesses in the banks’ markets. Loans of up to $50,000 will be available for existing businesses and up to $10,000 will be available to startups. The program is also expected to include educational seminars for business development.

Eligible applicants must have the following:

  • Minority Business Enterprise (MBE) certification
  • No more than $1 million in annual revenues
  • Must be located in the counties of Clarke, Fauquier, Frederick, Loudoun, Prince William, Shenandoah, Warren or the city of Winchester. Funding is also available for businesses in Berkeley, West Virginia; Jefferson, West Virginia; or Washington County, Maryland.
  • New businesses must have been in existence for at least three months
  • Existing businesses must have been in existence for at least two years
  • Must be able to show 51% ownership by one or more minority individuals who are U.S. citizens or legal resident aliens

Applications are open and those interested may visit a bank partner’s website including Bank of Clarke County, BCT-Bank of Charles Town, The Fauquier Bank and First Bank to apply.

 

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