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Editorial Results (free)

1. Medical Metrics -

A provision of the Affordable Care Act that ties patient satisfaction to reimbursement has been a boon for medical device maker Christie Medical Holdings Inc.

2. UTHSC Breaks Ground On Research Building -

The University of Tennessee Health Science Center broke ground Friday, June 8, on its $49 million Translational Science Research Building, which will be built on the grassy lot at the northwest corner of Union Avenue and South Manassas Street.

3. Ripples From Stanford Scheme Still Felt in Memphis -

The court-appointed receiver who’s unwinding the now-defunct operations of Stanford Financial Group – once fueled by money from a giant Ponzi scheme – is preparing to sell off Stanford property in Collierville.

4. VeinViewer Evaluated in Peer-Reviewed Journal -

The findings of the first peer review of a vein-viewing device manufactured by Memphis-based Christie Medical Holdings Inc. reports the device improves vascular success and is well-received by patients and staff.

5. Christie Medical Turns Reshuffle Into Fundraiser -

Christie Medical Holdings Inc. found opportunity in a recent renovation to raise money for Ronald McDonald House Charities of Memphis.

6. Christie Medical Debuts New VeinViewer -

Christie Medical Holdings Inc. has updated the vascular imaging device it acquired from Luminetx Corp. with the VeinViewer Vision, a more compact model that has a broader range of options.

7. Alliance Medical To Distribute VeinViewer -

Memphis-based Luminetx, a subsidiary of Christie Medical Holdings Inc., has reached a national sales distribution agreement for its VeinViewer product with New Alliance of Independent Medical Distributors Inc.

8. Snowflake Technologies Breaks Away -

Snowflake Technologies Corp. has emerged from the ashes of Luminetx.

The former subsidiary of Luminetx Corp., which was not part of the deal when Christie Digital Systems Inc. acquired the company in December, is now a free-standing company with its own board of directors.

9. Medical Imaging Makes Gains In Memphis -

Medical imaging is a fast-growing component of the health care industry, but one that has been slow to take root in Memphis.

That could be changing. SurgiVision Inc., which has quietly been filing new patents for MRI technology and attracting millions of dollars from research partners, is about to go public.

10. Christie to Keep VeinViewer Operations in Memphis -

Christie Digital Systems, the new owner of the VeinViewer technology, will keep jobs associated with the medical imaging device in Memphis, company officials said Wednesday.

Christie announced it had acquired “substantially all the assets” of Luminetx Corp. and will create a new medical products business called Christie Medical Holdings Inc. Luminetx shareholders approved the acquisition last month.

11. Christie to Keep VeinViewer Operations in Memphis -

Christie Digital Systems, the new owner of the VeinViewer technology, will keep jobs associated with the medical imaging device in Memphis, company officials said today.

Christie announced it had acquired “substantially all the assets” of Luminetx Corp. and will create a new medical products business called Christie Medical Holdings Inc. Luminetx shareholders approved the acquisition last month.

George Pinho, previously the company’s senior director for business product development, is now the president of Christie Medical.

Pinho is in Memphis this week but will oversee operations here from the Christie Digital Systems Canada Inc. headquarters in Kitchener, Ontario. The company also has a U.S. headquarters in Cypress, Calif.

“We’re excited by the potential of this acquisition,” Pinho said. “Christie’s goal is to diversify into emerging markets and we saw a unique opportunity to enter the medical imaging industry.”

The VeinViewer allows medical practitioners to easily see subcutaneous veins by projecting a real time image of their location onto the surface of the skin. Christie, a global visual technologies company that is a wholly owned subsidiary of Ushio Inc. of Japan, has expertise in projectors and visual technologies used for entertainment and educational purposes.

Medical imaging will be a new product line for the company.

“Our combined teams will create exciting growth opportunities through our collective capabilities and complementary technologies,” Pinho said.

Although the headquarters for the newly created Christie Medical Holdings Inc. will not be in Memphis, that does not mean jobs will be moved from here, said Dorina Belu, senior manager of media and communications for Christie.

“There is no change to the service, support and distribution of the VeinViewer business,” Belu said. “Customers are going to get the continued service, support, distribution and all of that, which began in Memphis. There is no change to that at all.”

Luminetx employed less than 100 people in Memphis.

Herb Zeman, a now retired professor from the University of Tennessee Health Science Center, invented the VeinViewer technology and founded Luminetx. The technology was heralded as one of “the Most Amazing Inventions of 2004” in Time magazine.

But the company was hurt by management turnover, boardroom conflicts, the downfall of one of its major investors, Stanford Financial Group, and legal fights with a new competitor.

Luminetx was running out of operating cash and was losing money when shareholders approved its acquisition. Christie, which had already loaned Luminetx $1.5 million, paid $15 million for the company and forgave the loan.

It did not acquire all of Luminetx’s patented technologies. Luminetx shareholders retained the company’s Snowflake Technologies Corp. subsidiary, which is developing a biometric identification product.

Luminetx last month terminated the employment of Richard Kindberg, who had been the company’s chief executive officer for nine months, when the board of directors voted in favor of the acquisition. Kindberg has filed suit against the company because of his dismissal.

Chris Schnee, who took over as interim chief executive officer, will remain on board with Christie Medical Holdings Inc. He will serve as general manager and vice president of sales and marketing.

Schnee said new opportunities arise with the new ownership.

“Christie’s extensive history and expertise in visual displays will offer exciting opportunities and applications for the VeinViewer technology platform,” Schnee said. “Christie’s global presence and world-class manufacturing and engineering know-how in visual display technology will enable us to expand our products into multiple new markets and to continue advancements in bettering patient care the world over. We look forward to finding new and better ways to improve health care delivery.”

...

12. 2010 -

Is it over yet? That may be the most frequently asked question in the New Year. “It” is the worst national economic recession since the Great Depression.

Accurately reading the indicators will not be easy. Some will predict the recession is about to end, just as new indicators point to continuing economic agony for thousands of Memphians.

13. Fired CEO Sues Luminetx -

Richard Kindberg, the former chief executive officer of Luminetx Corp., is suing the company after being fired this month following the announcement of a buyout.

14. Shareholders Approve Luminetx Acquisition -

Shareholders of Luminetx Corp. voted Friday to sell the company for $15 million to Christie Digital Systems Inc., said Herb Zeman, the company’s founder and one of its largest shareholders.

15. Luminetx Sale To Christie Approved -

The shareholders of Luminetx Corp. voted today to sell the company for $15 million to Christie Digital Systems Inc., said Herb Zeman, the company’s founder and one of its largest shareholders.

16. Sale of Luminetx Proposed as Company Flounders -

Luminetx Corp. is operating in the red and may soon run out of money unless its shareholders agree to sell the company to Christie Digital Systems Inc.

17. Sale of Luminetx Proposed as Company Flounders -

Luminetx Corp. is operating in the red and may soon run out of money unless its shareholders agree to sell the company to Christie Digital Systems Inc.

18. Luminetx to Be Acquired by Christie Digital Systems -

Luminetx Corp. announced Thursday that its board of directors has entered into an agreement to be acquired by Christie Digital Systems Inc., which has already loaned money to the Memphis-based company.

19. Luminetx to Be Acquired by Christie Digital Systems -

Luminetx Corp. announced today that its board of directors has entered into an agreement to be acquired by Christie Digital Systems Inc., which has already loaned money to the Memphis-based company.

20. Memphis Chamber Honors Luminetx, Buckman -

Luminetx Corp. and Buckman Laboratories are the 2009 Global Business Award recipients from the Greater Memphis Chamber International Business Council.

21. Luminetx Uses Patents as Loan Collateral -

Memphis-based Luminetx Corp. has signed over the patents for the technologies behind its VeinViewer products to a Japanese company that has loaned it money.

The company assigned its “Contrast Enhancing Illuminator,” “Imaging System Using Diffuse Infrared Light” and “Imaging System Using Diffuse Infrared Light” patents over to Christie Digital Systems Inc., according to the U.S. Patent Office online database. The “security agreement” conveyance occurred after Luminetx announced this summer that it had settled a lawsuit alleging infringement on those same patents by another company, Accuvein LLC of Cold Spring Harbor, N.Y.

Chris Schnee, executive vice president of global marketing and international sales for Luminetx, said the conveyance was to secure a loan.

“When a technology company such as ours enters into a loan secured against the assets of the company, the creditor is given a security interest in the company’s assets, which includes the intellectual property and therefore the patents,” Schnee said. “The security interest in the physical assets is established with a filing at the Secretary of State’s office and the security interest in the IP, which requires a filing at the USPTO. This is an ordinary course transaction, and the intellectual property remains an asset of the company but is pledged to secure the repayment of the obligation as and when due.”

He did not disclose the amount of the loan. Luminetx is not a publicly traded company so its finances are not public record.

Herb Zeman, the inventor of the patents and the founder of Luminetx who was fired from the company in 2007, remains one of its major stockholders. He said he did not like the company going into debt with Christie. Christie is a wholly owned subsidiary of Ushio Inc., a Japanese company.

“At the stockholders meeting, there was a group of us who wanted to change the board and take over and get investor money,” Zeman said. “We failed at that effort. The group that was going to try to take over the board was going to essentially pay off the Christie loan.

“Christie lent the company money, and we were going to put up other money to pay off that loan. I suppose, then, the people lending the money would have gotten that same kind of listing on the USPTO Web site. That doesn’t mean that they really have the patent. It means they would get the patent if the loan defaulted.”

Under terms of the settlement agreement between Luminetx and Accuvein LLC, Accuvein agreed to license the Luuminetx technology that allows veins to be viewed easily underneath the skin. Other terms of the agreement were confidential.

Luminetx sued Accuvein last year after it announced it was launching a competing product. Luminetx began selling the VeinViewer in fall 2006 for about $25,000 a unit.

...

22. Suit Dismissed Against Luminetx Defendant -

One of two former executives that Luminetx Corp. has sued for allegedly taking secrets to a competitor is no longer a party to that lawsuit.

23. Luminetx Competitor Agrees To License VeinViewer Patent -

Memphis-based Luminetx Corp. and Accuvein LLC of Cold Spring Harbor, N.Y., announced Monday that they have reached a settlement agreement on a patent dispute.

24. Law Firm Alliances on the Rise -

Law firms locally and nationally are more frequently forming partnerships with other firms or joining networks to help better serve their clients and use every attorney’s base of knowledge to improve overall performance.

25. Luminetx Expands Global Penetration -

Luminetx Corp. on Monday reported its second quarter sales of VeinViewer were at the highest level since the company began shipping the vascular imaging product three years ago.

26. Luminetx Names New Chief Executive -

Richard Kindberg is the new chief executive officer of Memphis-based Luminetx.

The company announced his appointment Wednesday morning. Prior to joining Luminetx, Kindberg served as divisional president for Teleflex Medical, a billion-dollar medical device company based in Durham, N.C. He has also held senior management positions at C.R. Bard, Optical Biopsy Technologies, Richard-Allan Medical, Focal Interventional and Johnson & Johnson.

27. Luminetx Founder at Odds With Management -

Editor’s Note: On Oct. 9, 2009, it was announced that Roxane Bischofberger and Luminetx Corp. settled their dispute amicably on terms agreeable to both sides, and all claims and counterclaims have been dismissed. The litigation was resolved pursuant to a confidential settlement.

28. Snowflake Technologies Receives Innovation Award -

Memphis-based biometrics company Snowflake Technologies has been awarded the 2009 Frost & Sullivan Technology Innovation of the Year Award in the North American Biometrics Market for its prototype, which was launched last year.

29. Details Emerge in Stanford Fraud Case -

Word of the $50 billion Ponzi scheme perpetrated by a New York businessman was still a hot topic in the investment community when a note to depositors appeared on Stanford International Bank’s Web site.

30. Taube Named Partner At Adams and Reese -

Emily Campbell Taube has been named a partner at Adams and Reese LLP. Taube is a member of the Litigation Practice Group and focuses on the areas of commercial litigation, employment litigation, product liability and estate and trust litigation.

31. U of M’s Heath Given Distinguished Teaching Award -

Dr. Julia Heath, professor of economics at the University of Memphis, has been honored with the Kenneth G. Elzinga Distinguished Teaching Award by the Southern Economic Association.

32. Luminetx VeinViewer Sales Increase 77 Percent in ’08 -

Memphis-based Luminetx Corp. reported Monday that sales of its VeinViewer product increased 77 percent in 2008 from 2007.

33. Luminetx Sues Former Execs -

Editor’s Note: On Oct. 9, 2009, it was announced that Roxane Bischofberger and Luminetx Corp. settled their dispute amicably on terms agreeable to both sides, and all claims and counterclaims have been dismissed. The litigation was resolved pursuant to a confidential settlement.

34. Luminetx Names Ogle New CFO -

After more than a year without a chief financial officer, Luminetx Corp. has named John Ogle to the position.

Ogle has more than 22 years experience in accounting and finance, most recently serving as CFO of Supportive Oncology Services Inc. (SOS) and Accelerated Community Oncology Research Network Inc. (ACORN), affiliates of The West Clinic.

35. Luminetx 2008 Sales Surpass ’07 Numbers -

Luminetx Corp. completed the first half of the fiscal calendar year 2008 on an upward trend with the total number of units sold surpassing all of 2007’s total sales, company officials said.

U.S. sales growth of Luminetx’s signature product, the VeinViewer, is being fueled by national penetration of the acute health care marketplace, they said. International sales continue to expand to new regions, such as Italy and Canada, adding to the Asia and Middle East partnership already in play.

36. Wilson Named CBU Dean Of Graduate, Professional Studies -

Dr. Patrick Wilson has been named dean of the Graduate and Professional Studies program at Christian Brothers University.

Wilson will lead the marketing, recruitment and retention for evening undergraduate programs and graduate programs as well as have responsibility for the financial planning and administrative operations.

37. Luminetx, Novation Sign Supplier Contract -

Luminetx Corp. has signed a three-year supplier contract with Novation, a heath care group purchasing organization.

Novation is the health care contracting services company of VHA Inc., University Health System Consortium and Provista LLC.

38. Luminetx Inks Three-Year Deal With MedAssets -

Luminetx Corp. has signed a three-year supplier contract with Las Vegas-based MedAssets Supply Chain Systems, one of the nation’s largest group purchasing organizations for health care providers. MedAssets bills itself as a “margin and cash flow improvement company providing innovative solutions for health care providers.”

39. Leading Real Estate Companies of the World Recognizes Marx & Bensdorf’s Cherny -

Eileen Cherny, relocation director for Marx & Bensdorf, has received the Leading Real Estate Companies of the World President’s Service Recognition Award. The award acknowledges committee and board involvement, presentations at network conferences and service in various capacities.

40. Luminetx Forms New Div. To Provide Clinical Support -

Luminetx Corp. has formed a clinical operations division, which will be led by David Pennington.

The new division will provide continuing clinical support and research-based information to Luminetx sales and marketing team members, as well as the client base, as the company markets its VeinViewer technology.

41. Sales of VeinViewer Up 250 Percent in Q1 -      Sales of Luminetx Corp.'s VeinViewer, the company's signature product, increased during the first quarter by almost 250 percent compared to Q1 2007, the company announced Monday.
     Recentl

42. Luminetx Launches ModelIt Can Sell Globally -      Luminetx Corp. has launched the next generation of the VeinViewer the VeinViewerGS, company officials said.
     The "Global Standard" model is specifically designed to meet the quality requ

43. Luminetx SignsDistribution Contracts -      Luminetx Corp. has signed the first international distribution contracts for its signature product, the VeinViewer by Luminetx, which positions the company to begin overseas commercial shipments as early as the next few

44. Snowflake LaunchesPrototype for ID System -      Memphis-based biometrics company Snowflake Technologies, a subsidiary of Luminetx Corp., has launched a prototype for its identity verification system known as vein pattern recognition, or VPR.
   &nb

45. Luminetx LaunchesOnline Search Tool -      Luminetx Corp. has launched an online tool to help consumers find the company's signature product, VeinViewer, nearest them, which will help the company connect patients more quickly to VeinViewer clients.
 &nbs

46. Rainey Chosen as President-Elect Of TN Women's Council of Realtors -

Crye-Leike Realtors broker Patty Rainey has been chosen as president-elect of the Tennessee Women's Council of Realtors.

Rainey is a member of the Memphis Area, Northwest Mississippi, Tennessee and National Associations of Realtors. She is in the Multi-Million Dollar Club and MAARket Master Toastmasters, and in 2006, she served as the president of the local Certified Residential Specialists chapter.

47. Luminetx Names SchneeVP of Global Marketing -      Christopher A. Schnee has been named vice president of global marketing for Memphis-based Luminetx Corp.
     In making the announcement, company officials said Schnee's appointment as vice p

48. Luminetx LaunchesNew Service Divisions -      Luminetx Corp. has launched two new service divisions, the LumiCare Equipment Service and Luminetx Financial Services Group. The new divisions will be led by Ronn LaBrasca.
     The financia

49. Luminetx Inks Deal With GPO Amerinet -      Luminetx Corp. has had signed a three-year contract with Group Purchasing Organizations (GPO) Amerinet Inc., which represents the Memphis-based company's first group purchasing contract, Luminetx announced Friday.
&

50. Certification ReceivedFor VeinViewer -      Memphis-based Luminetx Corp. has received certifications for its VeinViewer system, which will allow the product to be shipped to European countries.
     The VeinViewer - a vascular imaging

51. Luminetx a FinalistFor Red Herring Award -      Memphis-based biotech company Luminetx has been named a finalist for the "Red Herring 100 Global 2007" awards by Red Herring Magazine.
     The Red Herring editorial team used a competitive p

52. BioImaging Symposium Opens Today at U of M -

When more than 200 experts in medical imaging gather in Memphis starting today, they'll indulge their passion for peering deep inside of human bodies.

But the overall theme is on making imaging technology more useful at a time when the cost of imaging seems, to some, to be exorbitant compared to the benefits.

53. Luminetx Forms Partnership With Israeli Company -      Memphis-based Luminetx Corp. announced Wednesday a strategic partnership with the global technology company Explay for ultra-miniaturized video projection technology.
     Explay is a techno

54. Despite Strong Engineering Resume, Darty Keeps Focus on Team -

On paper, Mark A. Darty's long list of accomplishments in the engineering field is impressive, to say the least.

In addition to his work as executive vice president of research, development and manufacturing at Luminetx Corp., he
has been a lead engineer at McDonnell Douglas Aerospace (now The Boeing Co.) and developed avionics - aviation electronics - for the F-16 fighter aircraft. He also has created products such as solid state power systems for NASA and wearable computers for the U.S. Army.

55. Former Smith & Nephew ExecNamed Luminetx Officer -      The company behind the VeinViewer medical device has hired a former Smith & Nephew executive as the company's chief operating officer.
     Rodney Schutt recently began work as Memphis-based

56. Luminetx HonoredFor VeinViewer Work -      Memphis-based Luminetx Corp., along with Integrated Design Systems of Great Neck, N.Y., has been awarded the Design Distinction Award by The International Design Magazine.
     The award reco

57. Gossett Replaces PhillipsAs Luminetx CEO -      Businessman Al Gossett, owner of Gossett Motor Cars, has replaced Jim Phillips as chairman and chief executive officer of Luminetx Corp.
     Gossett will hold the position of interim chairma

58. Hidden Treasure -

Right in the middle of Memphis' emerging biomedical center is a somewhat hidden - and often overlooked - gem.

That gem actually is a group of scientists in the Biomedical Engineering and Imaging Department at the University of Tennessee Health Science Center, and they work every day developing, testing and improving medical technology.

59. Hidden Treasure -

Right in the middle of Memphis' emerging biomedical center is a somewhat hidden - and often overlooked - gem.

That gem actually is a group of scientists in the Biomedical Engineering and Imaging Department at the University of Tennessee Health Science Center, and they work every day developing, testing and improving medical technology.

60. Through the Looking Glass -

Imagine just waving your hand over a screen to pay the check at a restaurant.

It might sound like something from a "Star Trek" episode, but researchers at Snowflake Technologies in Memphis are well on their way to making it happen.

61. Obsidian Public Relations 'Makes Today a Great Day' for Clients -

Every morning when Courtney Liebenrood drops her 7-year-old daughter Savannah off at school, she tells her to "Make today a great day."

That farewell statement, opposed to the usual "Have a good day," has an important meaning. Liebenrood said she tells her daughter that because she wants to instill in her the belief that she has to make it a good day, rather than letting the day, or even herself, be defined by circumstances.

62. Methodist Le Bonheur Boosts Image With New VeinViewer Devices -

With its decision to use nine VeinViewers throughout its system, Methodist Le Bonheur Healthcare has made a huge vote of confidence in the homegrown medical imaging device.

VeinViewer is produced by Memphis-based Luminetx Corp. at 1256 Union Ave. The technology was discovered by scientists at the University of Tennessee and developed by Luminetx over about a year and a half. Each unit is sold for $25,000.

63. Methodist FirstTo Use Luminetx Device -      Methodist LeBonheur Healthcare has implemented the VeinViewer by Luminetx in multiple sites. The hospital system plans to use nine of the units in seven of its Memphis locations.
     By usin

64. VeinViewer Device Gets Warm Reception in Medical Community -

For many people, the mere thought of a trip to the doctor or hospital inspires fear. Most of that comes from one source - needles.

But one Memphis company has developed technology that could ease the minds of many patients. It's called the VeinViewer, and it could change the way people view having blood drawn.

65. Luminetx Gets $15 MillionTo Promote Vein-Locating Device -      Luminetx raised approximately $15 million from "strategic investors and existing shareholders" in a recent financing round, company officials announced Friday.
     The money will fund the ma

66. Events -

Grill 83, McEwen's on Monroe, Felicia Suzanne's Restaurant and Stella will hold a progressive wine dinner today beginning at 6:45 p.m. Each restaurant will serve a course that will be paired with a glass of complimentary wine from Napa, Calif.-based Stags' Leap Winery. Cost is $85 per person plus tax and gratuity. Seating is limited. For reservations, call Felicia Suzanne's at 523-0877.

67. Events -

The Memphis Area Association of Realtors holds a broker forum on "Threats to the MLS" today from noon to 1:30 p.m. at the Holiday Inn-University of Memphis, 3700 Central Ave. Call 818-2444 for reservations.

68. Events -

The Memphis BioWorks Development Council meets today from 11:30 a.m. to 2 p.m. at the University of Memphis Fogelman Executive Center, 330 Innovation Drive. Jim Phillips, president and CEO of Luminetx, is the guest speaker. Cost is $20. Contact Mike Demster at 543-3570.

69. Events -

The Women's Foundation for a Greater Memphis presents "Empower Your Future with Financial Planning" today from noon to 1:30 p.m. at the Community Foundation, 1900 Union Ave. Cost is $25, which includes lunch. Visit www.wfgm.org or contact Teresa Cheeks at 578-9346 to register.

70. Events -

The Mid-South Small Business Chamber holds its monthly membership meeting breakfast and seminar Tuesday from 7:30 a.m. to 11:30 a.m. at the Holiday Inn Select at 5795 Poplar Ave. Keynote speaker Jim Blasingame, syndicated columnist and award-winning host of "The Small Business Advocate," radio show, presents his "Small Business Survival Course." Members pay $20 for breakfast only and $47 for breakfast and seminar. Non-members pay $25 for breakfast only and $75 for breakfast and seminar. Call 259-1093 or visit www.smallbusinesschamber.com to register.

71. Major Work Set to Start in Biomedical District -

It will be hard to miss the next milestone in Memphis' emerging bioscience industry.

For anyone who's up at 6:30 a.m. Nov. 6 and enjoying free refreshments at any of the public tents set up near Baptist Memorial Hospital on Union Avenue, the early morning hours will be rattled by a cascade of steel and debris.

72. Armstrong Allen Names New Litigation Practice Chair -

Armstrong Allen attorney James F. Arthur III was named litigation practice group chairman for the firm. Arthur replaces Lucian Pera, who has served as litigation practice chairman for the past several years.

73. Diomed to DistributeLuminetx's VeinViewer - Diomed Holdings Inc. has acquired exclusive distribution rights to the VeinViewer Imaging System for the sclerotherapy, phlebectomy and varicose vein treatment markets in the United States and United Kingdom. The patented biomedical imaging system wa

74. Public Administrator Named for Probate Court -

The Shelby County Commission appointed Scott Peatross to the position of public administrator in Shelby County Probate Court. Peatross is a partner in the law firm of Bateman Gibson LLC. He graduated from Rhodes College and Tulane Law School.