CHI promotes exec leading St. Vincent
Peter Banko, president and chief executive officer of CHI St. Vincent, has been promoted to senior vice president and group executive officer of Catholic Health Initiatives east/southeast division, CHI announced Wednesday.
Beginning Monday, Banko will be responsible for CHI St. Vincent, as well as CHI Memorial in Chattanooga, Tenn., CHI St. Joseph in Reading, Pa., and Saint Clare's Health System in Denville, N.J. He was also named the company's chief integration officer and will direct CHI's national integration team, according to a news release.
One of Banko's first tasks in his new role will be overseeing the transition of Memorial Health System of East Texas as it becomes part of CHI St. Luke's Health in Houston. Banko was named chief of St. Vincent in 2007.
Englewood, Colo.-based CHI operates in 18 states. Its facilities include 93 hospitals.
CHI national spokesman Michael Romano said Wednesday that Banko will remain president and chief executive officer of CHI St. Vincent for the time being as he assumes his new responsibilities.
-- Glen Chase
NanoMech secures marketing financing
NanoMech has secured $12 million in Series B financing to aid its sales and marketing efforts and protect its intellectual property.
Meadow Lane Investments, Hendricks Investment Holdings, Advantage Capital Partners and Spring Creek Investments are the latest investors in the Springdale nano-technology company. Over the next 60 days the company has the option to secure additional funding through private stock placement.
Construction on a 25,000-square-foot facility expansion is scheduled for completion in October.
NanoMech holds patents for lubricant additives, cutting tools and other products used in the manufacturing, farming, oil and gas, aerospace and national defense industries.
NanoMech Chief Executive Officer Jim Phillips said in a news release that the funding allows the company to generate additional "awareness and demand" for its products.
--Chris Bahn
ArcBest climbs 3% in Arkansas Index
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 0.38 to 351.54 Wednesday.
"U.S. stocks moved slightly higher on Wednesday after the Federal Reserve pledged to hold interest rates at historic lows for a considerable time," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
ArcBest rose 3 percent in heavy trading.
Bank of the Ozarks climbed 2 percent on high volume.
Total volume of the index was 16.4 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 09/18/2014