J.B. Hunt completes deal for delivery firm
J.B. Hunt Transport Services Inc. on Monday said it has completed the acquisition of Cory 1st Choice Home Delivery, further expanding its home-delivery services.
The Lowell-based freight firm struck a $100 million deal last month with Cory, which built its business on the delivery of big and bulky products, such as televisions and plush couches, to the homes of online shoppers.
The deal was closed and took effect Friday, J.B. Hunt said in a news release.
Analysts and executives say "final-mile delivery," an industry term for the last segment of an order's delivery route, has piqued interest from large carriers looking to expand their operations.
J.B. Hunt acquired Special Logistics Dedicated for its final-mile capabilities in 2017. With the Cory transaction, J.B. Hunt's Final Mile Services division has access to 100 locations and more than 3.1 million square feet of warehouse and facility space.
The Lowell-based carrier said the Cory purchase will be funded through its existing revolving credit facility.
-- Nathan Owens
Walmart adds to list of surgical facilities
Walmart Inc. has added Ochsner Health System in New Orleans to its list of hospitals where employees can have knee- and hip-replacement surgery at the company's expense. Ochsner is the 12th medical center Walmart has approved for these procedures, a news release said.
Under the retailer's Centers of Excellence program, employees may choose to have a number of procedures, including transplants and heart surgery, at one of the designated hospitals with all expenses paid. Walmart covers the costs of surgery and all related travel for the patient and a caregiver.
Walmart selects facilities for the program that have demonstrated expertise in different types of surgery, the company has said. There are 16 facilities in the program across all the covered surgical disciplines.
The Bentonville retailer, which is self-insured, said the program has cut down on unnecessary procedures.
-- Serenah McKay
Index gives up 1.86, but most stocks rise
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.86 to 424.38 Tuesday.
All but three stocks gained ground, with three trading more than 16 million shares each.
"Rallying for its sixth time in seven sessions, the S&P 500 managed a slight gain Tuesday, hitting its highest level since December helped on by solid holiday results from retail powerhouse Wal-Mart," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 02/20/2019