Mark Sanchez

Mark Sanchez

Senior writer, covers health care, finance and life sciences. Twitter: @masanche

Perrigo Co. plc intends to use the proceeds from the sale of its animal health business to buy Ranir Global Holdings LLC, a Grand Rapids-based maker of oral care products.

GRAND RAPIDS — The new owner of Bazzani Building Co. in Grand Rapids plans to maintain the company’s niche focus of sustainable design and construction Investment firm ASA Group LLC, based in Granger, Ind., near South Bend, closed in late April on the acquisition of a majority stake in Bazzani Building, a design and construction management company that over more than two decades established a niche and reputation for its sustainable business practices.

As Michigan’s venture capital industry made further gains in 2018, it made some progress on one front that’s been the focus of attention the last few years: Diversity. Statistics tucked into the Michigan Venture Capital Association’s 2019 research report show an uptick over five years in investments into startups companies led by women and minorities.

Problems with Michigan’s infrastructure go beyond deteriorating roads and bridges. Michigan also ranks poorly — 42nd among the 50 states — in terms of digital connectivity, according to an annual report on entrepreneurship in the state.

The amount of venture capital invested in the Midwest grew at a compound annual rate of 17 percent from 2013 to 2018, the third highest in the U.S., behind the West Coast at 28 percent and the Mid-Atlantic region at 22 percent. The growth rate was one of the reasons the National Venture Capital Association and the University of California Berkeley chose Ann Arbor as the place to launch a new education program, VC University LIVE, on May 15-17 at the University of Michigan Ross School of Business.

WALKER — Seven years after buying Custom Profile Inc., Blackford Capital Inc. was ready for an exit. In seeking to sell the company, the Grand Rapids-based Blackford Capital evaluated a variety of options. Those options included finding a strategic buyer, a deal with another private equity firm, or selling to Custom Profile’s management and employees under an employee stock ownership plan.

Since deciding last fall to open a psychiatric urgent care center, Pine Rest Christian Mental Health Services President and CEO Mark Eastburg has heard from interested colleagues at care providers in the region asking about the possibility of replicating the model elsewhere.

Dr. Hyung Tai Kim becomes the new president next week at Mercy Health Saint Mary’s in Grand Rapids, a position he viewed as offering an “extraordinary opportunity to join an organization that believes in the things that I believe in.”

Merger-related expenses flattened quarterly earnings for ChoiceOne Financial Services Inc.

GRAND RAPIDS — At 15 years old, Elevator Up LLC had come to what founder Aaron Schaap called a “big milestone.” The Grand Rapids digital design consultancy for products and services had grown nicely from the early days. Schaap began considering what the next 15 years would look like, putting together goals, and weighing what leadership and talent Elevator Up would need.

Page 2 of 78