Mesotec Moves HQ From Germany to Green Tree
Medical Sensors Technologies Inc., which makes a device to quickly and accurately measure intraocular pressure in the eyes of glaucoma patients, has moved its headquarters from Hanover, Germany, to Green Tree. The company, also known as Mesotec, said it relocated here to conduct clinical trials, with hopes of gaining U.S. Food and Drug Administration approval and introducing the product in 2010. The device involves an eye implant, combined with a hand-held device. Mesotec decided to relocate to the Pittsburgh area because of its “quality of life, relatively low cost of doing business … and thriving life sciences community,” said CEO Max Ostermeier. Mesotec will employ a handful of people initially.
Mitsubishi expansion
Mitsubishi Electric Power Products Inc. dedicated the expansion of it gas circuit-breaker factory in Warrendale, which should spur the creation of about 50 new jobs during the next two years, the company said Wednesday. It is the location’s fourth expansion since opening there in 1989 as a joint venture with the former Westinghouse Electric Corp. The Mitsubishi Electric business employs 490 people in Warrendale who make high-voltage circuit breakers for the North American market. The expansion entails a fourth manufacturing bay, a shipping bay and more office space.
MTR casino sale done
MTR Gaming Group Inc. has completed the sale of its Speedway Casino in Nevada. Lucky Lucy D paid $2 million in cash. It will pay off a balance of up to $4.77 million under an earn-out formula based on revenues over a four-year period. In January, MTR sold the casino’s real estate to Ganaste LLC, an affiliate of Lucky Lucy D, for $11.4 million. MTR is the parent of Mountaineer Casino, Racetrack & Resort in Chester and Pennsylvania’s Presque Isle Downs & Casino. It also has properties in Michigan, Minnesota and Ohio.
Mylan sued over Azor
Mylan Inc., the largest U.S. maker of generic drugs, was sued by Japan’s Daiichi Sankyo Co. over a plan to sell a copy of the blood pressure pill Azor. Pittsburgh-based Mylan is seeking U.S. Food and Drug Administration approval to sell a generic version of the pill, which combines the active ingredients of Pfizer Inc.’s Norvasc and Daiichi’s Benicar. Daiichi is seeking to block approval of the generic copy until a patent on the medicine expires in 2016. Daiichi, based in Tokyo, has already sued Mylan over its plan to sell a copy of Benicar, claiming it would violate the 2016 patent.
Mercy leader named
The University of Pittsburgh Medical Center announced Wednesday that it has appointed one of its executives as president of UPMC Mercy. Will Cook, who recently worked in UPMC’s international operations division and has served as vice president of operations at Magee-Women’s Hospital and vice president of Ambulatory Care and Transplant Services at UPMC Shadyside, will begin at UPMC Mercy on July 7. He succeeds Elizabeth B. Concordia, executive vice president of UPMC, who was serving as interim president of UPMC Mercy since the health system bought Mercy Hospital in Uptown on Jan. 1.
US Airways improves
US Airways posted its best on-time flight performance in two years in April, according to government statistics released Wednesday, but the carrier continued to rank near the bottom in passenger complaints. U.S. Bureau of Transportation Statistics data showed 81.3 percent of US Airways’ flights were on time in April. It ranked third among the 19 carriers and compared with 82.6 percent in March 2006. Southwest Airlines ranked first in April, at 83.3 percent. US Airways said it also posted a best-ever ratio for mishandled baggage in April: 4.20 per 1,000 passengers. The performance was seventh-best and compared with top-ranked JetBlue’s 3.00. But US Airways ranked second-worst in terms of complaints in April, with 2.51 complaints per 100,000 passengers. That was still an improvement over the carrier’s 4.82 ratio in April 2007, which was by far the worst.
Verizon may buy Alltel
Verizon Wireless is in talks to buy Alltel Communications LLC, the country’s fifth-largest wireless carrier by subscribers, for $27 billion, according to business news channel CNBC. The report cited unnamed sources. Representatives of Verizon Communications Inc. and Alltel had no comment. If consummated, an acquisition would be the biggest telecom deal since AT&T Inc. bought BellSouth Corp. at the end of 2006.
Other business news
– Howard Hanna Mortgage Services said it was ranked as the 6th largest real estate mortgage company in the U.S in 2007 by Real Trends, a publisher of real estate industry trends and analysis. The mortgage company, which is the home lending arm of Howard Hanna Real Estate Services, saw its lending business grow by 15 percent, said Mark Steele, its president.
– The second Pittsburgh Restaurant Week, with special prices at fine dining sites Downtown and elsewhere, is set for June 16 to 19. Dinners will be $35, lunches $25. The Carlton, F. Tambellini Ristorante and The Terrace Room, all Downtown, are among the more than 50 participants. A complete list and more information are at www.PittsburghCelebrates.org.
– Engineering-simulation software developer Ansys Inc., of Cecil in Washington County, said Wednesday its $832 million acquisition of software developer Ansoft Corp., South Side, will close in the third quarter, instead of the second quarter as originally stated.
Originally published by staff and wire reports.
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