Canada firm bought by NOWDiagnostics
NOWDiagnostics, a Springdale-based diagnostic testing company, has acquired Canadian biomedical company ZBx Corp. to speed expansion efforts.
NOWDiagnostics makes and sells blood-based rapid tests for various ailments. ZBx develops and manufactures rapid-format diagnostic products for human and veterinary fields, according to a release.
"The tests we are creating have the potential to revolutionize current medical test protocols and to lower costs to insurance companies, and ultimately consumers," NOWDiagnostics CEO Kevin Clark said in a statement.
The terms of the deal were not released.
ZBx operations will remain in Toronto, where the focus will be on research and development. Manufacturing operations will continue in Springdale. NOWDiagnostics employed 18 before the deal and will add ZBx Corp.'s 14 workers to its roster.
The purchase provides NOWDiagnostics with an additional eight scientists focused on testing and taking products to market.
-- John Magsam
Tyson pledges $50M in hunger-relief push
Tyson Foods promised Wednesday to give $50 million over the next five years to organizations that relieve hunger, including Share Our Strength, Feeding America and the Food Research and Action Center.
"We know we can't solve hunger alone," said Donnie Smith, the company's chief executive, in a news release. "It's the organizations and heroes in communities all over the country who are doing the real work. We're proud to support those who are fighting hunger across the country and shine a spotlight on individuals making a big difference in innovative ways."
In the past 15 years, Tyson has donated more than 100 million pounds of food to hunger organizations in the U.S., according to the company.
-- Claire Williams
15 stocks advance, index picks up 4.88
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 4.88 to 319.66 Wednesday.
"U.S. stocks shot higher on Wednesday as the volatility continued and as the [Automatic Data Processing] employment report came in below expectations," said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock.
Windstream jumped 8 percent in average trading.
Total volume of the index was 22.7 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 09/03/2015