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The Briefcase: Lexington company pays $2.46 million for six tracts

The Briefcase: Lexington company pays $2.46 million for six tracts

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Lexington company pays $2.46 million for six tracts

A Lexington company has paid $2.46 million for six tracts of land in Lexington, according to a Davidson County Register of Deeds filing Friday.

The buyer, Philippians 413 LLC, has Timothy Barker of Cary listed as its organizer and member. The seller is MML Properties of Lexington, formerly doing business as Transit Damaged Freight Inc.

The buyer paid $410,000 each for the six tracts: 1602, 1604 and 1616 S. Main St. in Lexington; 5683 and 5693 Old Salisbury Road, Lexington; 8397 Old Salisbury Road in Linwood;

Richard Craver

Truist hires industry veteran as chief marketing officer

Truist Financial Corp. said Monday it has hired Vinoo Vijay as chief marketing officer.

Vijay will oversee all of marketing, including brand strategy, line of business marketing, multicultural marketing, sports and entertainment marketing, digital marketing, direct and regional marketing, as well as social, creative and advertising.

Vijay has more than 20 years of marketing experience, including with H&R Block, TD Bank, Ally Financial, Bank of America Corp. and FedEx Corp.

He was chief marketing officer at TD Bank and head of global brand and product marketing for Ally.

Richard Craver

Medicare grants Cook Medical product payment qualification

The U.S. Centers for Medicare and Medicaid Services recently granted Cook Medical a new technology add-on payment (NTAP) for Hemospray Endoscopic Hemostat.

The designation, which went into effect Oct. 1, will provide eligible hospitals with incremental reimbursement for Hemospray for up to three years.

As a result, the designation may reduce financial barriers to physician and patient access to Hemospray, giving physicians more options to treat patients on Medicare.

Eligible hospitals can now use Hemospray and qualify to receive a supplemental payment from NTAP of up to $1,625 in addition to the standard Medicare Severity Diagnosis Related Group payment for Medicare patients.

Cook Medical’s Hemospray product is an endoscopic hemostat, meaning that it helps stop bleeding in the gastrointestinal tract. Bleeding in the gastrointestinal tract is a leading cause of death and is associated with an estimated 20,000 deaths per year in the United States alone.

This product is a single-use device that sprays an inorganic powder toward the source of a bleed. When the powder comes in contact with blood, it absorbs water and forms a gel. The gel creates a stable barrier that covers the bleeding site.

Richard Craver

Canadian solar power company plans Stokes project

Capital Power Corp., a Canadian-based energy company, said Monday it has completed 20-year power purchase agreements with Duke Energy Carolinas for three solar development projects located in North Carolina totaling 160 megawatts.

The Bear Branch 35 megawatt project is based in Stokes County.

The Hornet 75 megawatt project is in Gaston and Lincoln counties, while the Hunter’s Cove 50 megawatt project is in Rutherfordton County.

Capital Power is based in Edmonton, Alberta.

Construction of the solar projects is expected to begin in late 2021 or early 2022 with commercial operations expected in the fourth quarter of 2022. The total combined cost is $198 million.

Richard Craver

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