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FDA Approves Labeling Update for Abbott’s HeartMate 3 Heart Pump for use in Pediatric Patients

– Abbott’s HeartMate 3™ heart pump approved for use for pediatric patients battling advanced heart failure

– This life-saving technology provides new treatment option for underserved population

PR Newswire

ABBOTT PARK, Ill., Dec. 17, 2020 /PRNewswire/ — Abbott (NYSE: ABT) today announced the U.S. Food and Drug Administration (FDA) has approved updated labeling for the company’s HeartMate 3™ heart pump to be used in pediatric patients with advanced refractory left ventricular heart failure. With the updated labeling, physicians now have additional options for treating this underserved population awaiting a heart transplant or for those not eligible to receive a transplant as a result of potential complications or risk related to the procedure.

The approval follows similar pediatric innovations for Abbott in recent years, including the Masters HP™, a 15mm pediatric heart valve the size of a dime, approved in 2018; and the Amplatzer Piccolo™ Occluder, a pea-sized plug approved in 2019 to help treat a potentially life-threatening opening in the heart of some premature or newborn babies.

Many children and adolescents with congestive heart failure require a heart transplant or mechanical device implant to survive. The HeartMate 3 left ventricular assist device (LVAD) – or heart pump – is an implantable device that pumps blood through the body in people whose heart is too weak to do so on its own. The HeartMate 3 pump was initially approved in the United States in 2017 for adults awaiting a heart transplant and received FDA approval for long-term use in adults in 2018. In the largest LVAD trial in the world, the HeartMate 3 pump showed a survival rate of 79% at two years – an outcome comparable to patients receiving a heart transplant.

“For families with children battling chronic diseases the future is often bleak. As physicians, we see the fear in the eyes of not only the child, but also the mothers and fathers,” said Robert L. Kormos, M.D., divisional vice president, global medical affairs, Abbott’s heart failure business. “Imagine a child with a heart condition that does not allow them to play with friends, sing or run. Innovations, such as the HeartMate 3, can lessen the crippling effects of heart failure and allow that child to live a more normal life.”

LIFE-CHANGING COLLABORATION IN ACTION

The updated labeling for HeartMate 3 to be used in pediatric patients was supported by clinical data from the Advanced Cardiac Therapies Improving Outcomes Network (ACTION Learning Collaborative), a consortium of 50+ U.S. pediatric hospitals that pooled together data to show advantageous outcomes of the HeartMate 3 in pediatric patients.

“Our mission is to improve the outcomes of children with heart failure. Historically, this has been an underfunded and understudied area in pediatrics,” said Angela Lorts, M.D., M.B.A., and David Rosenthal, M.D., co-founders of ACTION Learning Collaborative. “This technology will benefit our pediatric patients and is a leap forward for improving heart failure outcomes in children. We are honored to collaborate with Abbott on this pediatric initiative.”

BACK TO LIVING LIFE ON HER TERMS  

Katrina Sellens, now 16-years-old, was an active teenager before being diagnosed with cardiomyopathy, a serious disease of the heart muscle that can lead to heart failure. She couldn’t walk 10 feet without feeling exhausted and had to bend over just to breathe. In 2019, Katrina received the Abbott HeartMate 3 under a special request to treat her life-threatening disease.

“One of the most depressing aspects of heart failure is seeing your child lose the ability to do what had always come naturally,” said Maria Bautista, Katrina’s mother. “I didn’t believe she would get as strong as she has with the HeartMate 3. We are back to living life on her terms.” 

Nearly two years later, Katrina is back to camping and taking care of her family’s chickens. The high school sophomore recently earned her driver’s permit and dreams of becoming an LVAD nurse so she can help others with heart failure. For more on Katrina’s story, click here. 

Resources to Learn More 

Heart failure is a manageable condition, especially if it is detected early. Cardiologists and other healthcare providers can visit Abbott Cardiovascular for more resources on the latest innovations and solutions designed for patients with heart failure.

About Abbott’s HeartMate 3 heart pump

Abbott’s HeartMate 3™ heart pump is a small, implantable mechanical circulatory support device for advanced heart failure patients who are awaiting transplantation or are not candidates for heart transplantation. It is the first commercially approved (CE Mark and FDA approved) heart pump with Full MagLev™ technology, which allows the device’s rotor to be “suspended” by magnetic forces. This design aims to reduce trauma to blood passing through the pump and improve outcomes for patients.

For U.S. important safety information for the HeartMate 3, visit https://www.cardiovascular.abbott/us/en/campaigns/heartmate-3-lvad-pediatric.html.

For U.S. important safety information for the Masters HP Series, visit http://abbo.tt/2taeyVL.

For U.S. important safety information for the Amplatzer Piccolo Occluder, visit https://www.structuralheartsolutions.com/us/piccolo-ISI.

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews.

Cision View original content:http://www.prnewswire.com/news-releases/fda-approves-labeling-update-for-abbotts-heartmate-3-heart-pump-for-use-in-pediatric-patients-301195626.html

SOURCE Abbott

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AM Best Affirms Credit Ratings of MetLife, Inc. and Key Life/Health Subsidiaries; Upgrades Credit Ratings of Other Life/Health Subsidiaries

AM Best Affirms Credit Ratings of MetLife, Inc. and Key Life/Health Subsidiaries; Upgrades Credit Ratings of Other Life/Health Subsidiaries

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-”of Metropolitan Life Insurance Company (MLIC) (New York, NY) and Metropolitan Tower Life Insurance Company (Lincoln, NE). Concurrently, AM Best has affirmed the Long-Term ICR of “a-” and the Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of MetLife, Inc. (MetLife) (headquartered in New York, NY) [NYSE: MET].

In addition, AM Best has upgraded the FSR to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” from “a+” of MetLife’s dental and vision subsidiaries, consisting of the SafeGuard Health Plans, Inc. providers, and Delaware American Life Insurance Company (Wilmington, DE). At the same time, AM Best has upgraded the FSR to A+ (Superior) from A (Excellent) and the Long-Term ICR to “aa-” from “a” of MetLife Global Benefits, Ltd. (Cayman Islands).

The outlook of these Credit Ratings (ratings) is stable. The aforementioned subsidiaries collectively are referred to as Metropolitan Life Insurance Group. (See below for a detailed listing of companies and Long- and Short-Term IRs.)

The ratings of Metropolitan Life Insurance Group reflect its balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management (ERM). The rating upgrades of the SafeGuard Health Plans, Inc. providers, Delaware American Life Insurance Company and MetLife Global Benefits, Ltd. reflect these subsidiaries strategic importance to the MetLife organization, which is increasingly focused on employee benefits and retirement income solutions in its global and U.S. markets, a high degree of integration and a demonstrated track record of supporting MetLife’s business strategy.

Metropolitan Life Insurance Group’s strong balance sheet assessment is supported by qualitative considerations of its reserve profile and a consolidated view of capital adequacy, which is enhanced by the liquidity and financial flexibility of the holding company that has historically maintained significant levels of excess liquidity. Additionally, the ratings recognize the reduction of risk on its balance sheet related to equity and interest rate risk as MetLife Holding’s product portfolio declines over time. Financial leverage is approximately 25%, and interest coverage, excluding holding company liquidity, is strong at approximately 8 times interest payments.

MetLife continues to generate profitable revenue growth and consistently positive operating metrics on a statutory and GAAP basis. Earnings are diversified geographically and volatility is lower within its group benefits segment. MetLife has made improvements in its operating efficiency ratio, and although there has been some volatility in recent quarters due to variable investment income returns, adjusted GAAP operating earnings are strong. AM Best views Metropolitan Life Insurance Group’s operating performance as strong, with the group focused on higher margin product lines with lower volatility of returns, expense efficiencies and a consistent trend of double-digit GAAP returns on equity. ERM is viewed as appropriate, as the group has continued to focus on improving its overall program and capital modeling.

The ratings also reflect the organization’s strong, defensible market positions in its core lines of business and the diversity of its products and geographic markets in the United State, Asia and Latin America, as well as the Europe, Middle East and Africa region.

The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” from “a+”, each with a stable outlook, for the following dental and vision subsidiaries of MetLife, Inc.:

  • SafeGuard Health Plans, Inc. (CA)
  • SafeGuard Health Plans, Inc. (FL)
  • SafeGuard Health Plans, Inc. (TX)

The following Short-Term IRs have been affirmed:

MetLife Funding, Inc.—

— AMB-1+ on commercial paper

MetLife, Inc.—

— AMB-1 on commercial paper

The following Long-Term IRs have been affirmed, each with a stable outlook:

MetLife, Inc.—

— “a-” on USD 1.0 billion 4.75% senior unsecured notes, due 2021

— “a-” on USD 500 million 3.048% senior unsecured debentures, due 2022

— “a-” on USD 1.0 billion 4.368% senior unsecured debentures, due 2023

— “a-” on USD 1.0 billion 3.60% senior unsecured notes, due 2024

— “a-” on GBP 350 million 5.375% senior unsecured notes, due 2024

— “a-” on USD 500 million 3.60% senior unsecured notes, due 2025

— “a-” on USD 500 million 3.0% senior unsecured notes, due 2025

— “a-” on JPY 25.2 billion 0.495% senior unsecured notes, due 2026

— “a-” on JPY 64.9 billion 0.769% senior unsecured notes, due 2029

— “a-” on USD 1.0 billion 4.55% senior unsecured notes, due 2030

— “a-” on JPY 10.7 billion 0.898% senior unsecured notes, due 2031

— “a-” on USD 600 million 6.50% senior unsecured notes, due 2032

— “a-” on USD 750 million 6.375% senior unsecured notes, due 2034

— “a-” on JPY 26.5 billion 1.189% senior unsecured notes, due 2034

— “a-” on USD 1.0 billion 5.70% senior unsecured notes, due 2035

— “a-” on JPY 24.4 billion 1.385% senior unsecured notes, due 2039

— “a-” on USD 750 million 5.875% senior unsecured notes, due 2041

— “a-” on USD 750 million 4.125% senior unsecured notes, due 2042

— “a-” on USD 1.0 billion 4.875% senior unsecured notes, due 2043

— “a-” on USD 500 million 4.721% senior unsecured debentures, due 2044

— “a-” on USD 1.0 billion 4.05% senior unsecured notes, due 2045

— “a-” on USD 750 million 4.6% senior unsecured notes, due 2046

— “bbb” on USD 1.25 billion 6.40% junior subordinated debentures, due 2066

— “bbb” on USD 750 million 9.25% junior subordinated debentures, due 2068 (exchanged for and replaced trust securities originally issued by MetLife Capital Trust X)

— “bbb” on USD 500 million 10.75% junior subordinated debentures, due 2069

— “bbb” on USD 600 million floating rate non-cumulative preferred stock, Series A

— “bbb” on USD 1.5 billion 5.25% fixed to floating rate non-cumulative preferred stock, Series C

— “bbb” on USD 500 million 5.875% non-cumulative preferred stock, Series D

— “bbb” on USD 805 million 5.625% non-cumulative preferred stock, Series E

— “bbb” on USD 1.0 billion 4.75% non-cumulative preferred stock, Series F

— “bbb” on USD 1.0 billion 3.85% non-cumulative preferred stock, Series G

MetLife Capital Trust IV—

— “bbb” on USD 700 million 7.875% exchangeable surplus trust securities (junior subordinated), due 2067

Metropolitan Life Insurance Company—

— “a” on USD 250 million 7.80% surplus notes, due 2025

— “a” on USD 150 million 7.875% surplus notes, due 2024 (originally issued by New England Mutual Life Insurance Company)

Metropolitan Tower Life Insurance Company—

— “a” on USD 107 million 7.625% surplus notes, due 2024 (originally issued by General American Life Insurance Company)

Metropolitan Life Global Funding I— “aa-” program rating

— “aa-” ratings on the notes issued hereunder

The following indicative Long-Term IRs have been affirmed, each with a stable outlook:

MetLife, Inc.—

— “a-” on senior unsecured debt

— “bbb+” on subordinated debt

— “bbb” on preferred stock

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Louis Silvers

Senior Financial Analyst

+1 908 439 2200, ext. 5802

[email protected]

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Rosemarie Mirabella

Director

+1 908 439 2200, ext. 5892

[email protected]

Jim Peavy

Director, Communications

+1 908 439 2200, ext. 5644

[email protected]

KEYWORDS: New Jersey Europe United States North America

INDUSTRY KEYWORDS: General Health Health Professional Services Dental Insurance

MEDIA:

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Guggenheim Partners Selects Third Cohort of Network for Social Innovation

Venture Strategy Identifies Promising, Early-Stage Organizations Using Innovative Solutions to Solve Enduring Social Problems

NEW YORK, Dec. 17, 2020 (GLOBE NEWSWIRE) — Guggenheim Partners is proud to announce the selection of five non-profit organizations for the third cohort of the Network for Social Innovation. The Network for Social Innovation is Guggenheim’s Corporate Social Responsibility venture philanthropy strategy that identifies promising, early-stage organizations using innovative solutions to solve enduring social problems. The initiative exemplifies Guggenheim’s long-standing commitments to giving back to our local communities and supporting organizations that promote social justice, diversity, and equality.

The five new Network for Social Innovation partners are:


  • Embarc
    , a provider of community-driven, experienced-based learning opportunities for low-income high school students and their teachers

  • Start Small Think Big
    , a network for under-resourced entrepreneurs to receive pro bono legal, financial, and marketing services

  • UPchieve
    , an on-demand tutoring platform for low-income students to get free academic support when they need it

  • Upsolve
    , a free web application to help families file for Chapter 7 bankruptcy so they can relieve their debt, rebuild their credit, and re-enter the economy

  • VOCEL
    , a two-generation early learning accelerator program for young children and their caregivers in under-resourced communities

The organizations were selected by the firm’s Corporate Social Responsibility Committee following an extensive and deliberate eight-month evaluation process which included:

  • Two-hundred-eighty-six initial application submissions received from nonprofits all over the world.
  • One-hundred-ninety-six employees collectively completed approximately 1,000 evaluations of 50 semifinalists.
  • Ten finalists submitted a comprehensive secondary application and underwent deep due diligence that encompassed a virtual site visit to meet with the leaders and observe programs, interviews with management and governance, comprehensive financial analyses, and more.
  • Five organizations were ultimately approved by the Corporate Social Responsibility Committee through a systematic assessment of the organizations’ leadership, mission, impact, financial management, and employee engagement potential.

Guggenheim Partners will award each Network for Social Innovation portfolio organization $100,000 over the next 12 months. In addition, the firm will engage its global “creative capital,” comprising employees’ time, talent, and relationship networks to provide support tailored to each partner organization. Guggenheim aims to support the organizations with the financial and creative capital they need in order to succeed.

“At Guggenheim, we pride ourselves on offering innovative solutions,” said Robert Rutkoff, Head of Corporate Social Responsibility and Chair of the Corporate Social Responsibility Committee. “Our newest Network for Social Innovation partners are scaling innovative solutions in the social sector to bring about desperately needed change. We are thrilled to welcome Embarc, Start Small Think Big, UPchieve, Upsolve, and VOCEL to the Network for Social Innovation community and look forward to a meaningful partnership.”

Guggenheim has now selected 15 visionary nonprofits for NSI. The organizations previously selected for NSI are:

  • Drive Change, a hospitality training program for young people returning home from prison
  • FreeFrom, a provider of financial empowerment tools and training for survivors of domestic violence
  • Global Health Corps, a fellowship for young talent at global public health NGOs
  • Hot Bread Kitchen, a culinary workforce development program and small business incubator for women facing economic insecurity
  • JustFix, a creator of technology tools for tenants and advocates fighting housing displacement
  • Moneythink, a tool that utilizes research-driven coaching to help students complete an affordable postsecondary education
  • Pursuit, a provider of free coding education for individuals from underserved communities
  • Sanergy, a manufacturer of low-cost sanitation facilities for urban slums abroad
  • Sanitation and Health Rights India, a system of toilets and safe drinking water to achieve health equity in rural India
  • SIRUM, a platform connecting unused, surplus medications with people who need them most

Media Contact

Steven Lee

Guggenheim Partners
212.293.2811
[email protected]



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Axcient Featured on the 2020 CRN® Edge Computing 100 List

DENVER, Dec. 17, 2020 (GLOBE NEWSWIRE) — Axcient, a leader in business availability software for Managed Service Providers (MSPs), announced today that CRN®, a brand of The Channel Company, has named the company to its first-ever 2020 Edge Computing 100 list. This new list, selected by a panel of respected CRN editors, recognizes leading vendors whose technology in areas such as infrastructure and cloud; 5G, IoT and edge services; software, and security provide the building blocks channel partners need to develop next-generation intelligent edge solutions that bring data collection and processing closer to users.

“Axcient offers partners an innovative, unified platform to cure data lost for their clients and a dedicated support team to address any concerns quickly,” said David Bennett, CEO at Axcient. “Our goal is to keep businesses up and running with our technology, provide the power to choose through Direct-to-Cloud—our appliance-free BCDR solution, and offer a great experience to MSP partners who are managing business continuity and disaster recovery for their clients. We thank CRN for recognizing Axcient as a leader in the industry when it comes to helping partners Protect Everything™ for their clients.”

“Increasing data collection and processing power at the edge is the foundation needed to create intelligent systems, enabling companies to improve efficiency and productivity and work smarter,” said Blaine Raddon, CEO at The Channel Company. “CRN’s Edge Computing 100 list identifies leaders in edge computing who empower partners to deliver reliable and innovative solutions that maximize data analytics, performance, and security for their customers.”

The 2020 Edge Computing 100 list will be featured in a special December 2020 issue of CRN and online at www.crn.com/edge100.

To learn more about Axcient, please visit www.axcient.com.

About Axcient

Axcient is an award-winning leader in business availability software for Managed Service Providers (MSPs). Axcient x360 empowers MSPs to Protect Everything™ by combining SaaS Backup, BCDR, and secure File Sync & Share into one platform and experience. Trusted by MSPs worldwide, Axcient protects business data and continuity from events such as security breaches, human error, and natural disasters. For more information, visit www.axcient.com.

About The Channel Company

The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers, and end users. Backed by more than 30 years of unequaled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelco.com

Follow The Channel Company:
Twitter, LinkedIn and Facebook

Media Contact

Amanda Lee


ARL Strategic Communications
 for Axcient
(727) 272-0781
[email protected]



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Bryn Mawr Trust Launches Newly Designed bmt.com

BRYN MAWR, Pa., Dec. 17, 2020 (GLOBE NEWSWIRE) — Bryn Mawr Trust (BMT), wholly owned by Bryn Mawr Bank Corporation (NASDAQ: BMTC), announced today the launch of its newly redesigned website, bmt.com. The new site features a crisp, clean, modern design with improved functionality and easy access to personal banking, small business, commercial, wealth management, and insurance services.

The redesign is fully responsive and optimized to ensure visitors have a user-friendly, streamlined experience across all digital platforms and devices. 

Some of the new features the site enhancements include are:

  • Category breakouts to help better navigate through the website with visitor needs in mind, including personal, small business, commercial, wealth management, insurance
  • BMT’s Investor Relations site is integrated to deliver an all-in-one browsing experience.
  • Improved Find a BMT location search to help visitors quickly find information for the banking, wealth, or insurance office near them.
  • Enhanced Financial Calculators to help visitors better evaluate different financial scenarios.
  • An enhanced Financial Insights section that provides industry-related content.

The new intuitive design will help users quickly find and access the information. In addition to the website, Banking clients can access their banking accounts from our mobile banking app, available on the Apple® App Store® and the Google Play™ store.

Frank Leto, president and chief executive officer of Bryn Mawr Bank Corporation, referenced the Corporation’s long-term strategic planning and investment in best-in-class technology. “The newly design bmt.com is our digital face to prospects and valued clients,” said Leto. “Our objective was to redesign the site with user-experience in mind and provide a place where visitors can get relevant information to assist them with financial needs. We are particularly pleased that we can now better represent ‘OneBMT,’ which provides solutions in Commercial and Retail Banking, Wealth Management, and Insurance.”

Apple® and App Store® are registered trademarks of Apple Inc.
Google Play™ is a trademark of Google LLC

Bryn Mawr Bank Corporation (NASDAQ: BMTC), including its principal subsidiary, The Bryn Mawr Trust Company (BMT), was founded in 1889 and is headquartered in Bryn Mawr, Pa. BMT is a locally managed, premier financial services company providing retail and commercial banking; trust administration and wealth management; and insurance and risk management solutions. Bryn Mawr Bank Corporation has $5.05 billion in corporate assets and $17.24 billion in wealth assets under management, administration, supervision, and brokerage (as of 9/30/20). Today, the company operates 41 banking locations, seven (7) wealth management offices and two (2) insurance and risk management locations in the following counties: Montgomery, Chester, Delaware, Philadelphia, and Dauphin Counties in Pennsylvania; New Castle County in Delaware; and Mercer and Camden Counties in New Jersey. For more information, visit bmt.com.

FORWARD-LOOKING STATEMENTS AND SAFE HARBOR

This communication contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-looking statements may include financial and other projections as well as statements regarding the Corporation’s future plans, objectives, performance, revenues, growth, profits, operating expenses or the Corporation’s underlying assumptions. The words “may,” “would,” “should,” “could,” “will,” “likely,” “possibly,” “expect,” “anticipate,” “intend,” “indicate,” “estimate,” “target,” “potentially,” “promising,” “probably,” “outlook,” “predict,” “contemplate,” “continue,” “plan,” “strategy,” “forecast,” “project,” “annualized,” “are optimistic,” “are looking,” “are looking forward” and “believe” or other similar words and phrases may identify forward-looking statements. Persons reading this communication are cautioned that such statements are only predictions, and that the Corporation’s actual future results or performance may be materially different.

Such forward-looking statements involve known and unknown risks and uncertainties. A number of factors, many of which are beyond the Corporation’s control, could cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments expressed, implied or anticipated by such forward-looking statements, and so our business and financial condition and results of operations could be materially and adversely affected. The COVID-19 pandemic (the “Pandemic”) is adversely affecting us, our clients, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions, including further increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and further increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to the Pandemic, could affect us in substantial and unpredictable ways. Other factors include, among others, our need for capital, our ability to control operating costs and expenses, and to manage loan and lease delinquency rates; the credit risks of lending activities and overall quality of the composition of our loan, lease and securities portfolio; the impact of economic conditions, consumer and business spending habits, and real estate market conditions on our business and in our market area; changes in the levels of general interest rates, deposit interest rates, or net interest margin and funding sources; changes in banking regulations and policies and the possibility that any banking agency approvals we might require for certain activities will not be obtained in a timely manner or at all or will be conditioned in a manner that would impair our ability to implement our business plans; changes in accounting policies and practices or accounting standards, including ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the Current Expected Credit Loss model, which has changed how we estimate credit losses and may result in further increases in the required level of our allowance for credit losses; unanticipated regulatory or legal proceedings, outcomes of litigation or other contingencies; cybersecurity events; the inability of key third-party providers to perform their obligations to us; our ability to attract and retain key personnel; competition in our marketplace; war or terrorist activities; material differences in the actual financial results, cost savings and revenue enhancements associated with our acquisitions; uncertainty regarding the future of LIBOR; the impact of public health issues and pandemics, and their effects on the economic and business environments in which we operate, the effect of the Pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; and other factors as described in our securities filings with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements and information set forth herein are based on Corporation management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. The Corporation does not undertake to update forward-looking statements.

For a complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the SEC, including our most recent Annual Report on Form 10-K, as updated by our quarterly or other reports subsequently filed with the SEC, including our most recent Quarterly Report on Form 10-Q.

FOR MORE INFORMATION:

Tina McDonald
Senior Vice President, Marketing
610.581.4875

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4cff2e6b-3021-440b-8f12-71487c2811f9



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Slate Grocery REIT Announces Distribution for the Month of December 2020

Slate Grocery REIT Announces Distribution for the Month of December 2020

TORONTO–(BUSINESS WIRE)–
Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that the Board of Trustees has declared a distribution for the month of December 2020 of U.S.$0.072 per class U unit of the REIT (“Class U Units”), or U.S.$0.864 on an annualized basis.

Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election.

Holders of class A units of the REIT (“Class A Units”) will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of U.S.$0.072 per Class A Unit, unless the unitholder has elected to receive distributions in U.S. dollars. Holders of class I units of the REIT (“Class I Units”) will receive a distribution of U.S.$0.072 per Class I Unit, unless the unitholder has elected to receive distributions in Canadian dollars. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units (“Exchangeable Units”) will receive a distribution of U.S.$0.072 per unit.

If a holder of Class U Units or Class I Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units or Class I Units, as applicable, based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.

Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on January 15, 2021 to unitholders of record as of the close of business on December 31, 2020.

About Slate Grocery REIT (TSX: SGR.U / SGR.UN)

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.3 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.

About Slate Asset Management

Slate Asset Management is a leading real estate focused alternative investment platform with approximately $6.5 billion in assets under management. Slate is a value-oriented manager and a significant sponsor of all of its private and publicly traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm’s careful and selective investment approach creates long-term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a demonstrated ability to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Forward-Looking Statements

Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.

SGR-Dist

For Further Information

Investor Relations

+1 416 644 4264

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Retail Supermarket Commercial Building & Real Estate Finance Construction & Property REIT

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Kadant Named One of 100 Fastest-Growing Companies by Fortune

WESTFORD, Mass., Dec. 17, 2020 (GLOBE NEWSWIRE) — Kadant Inc. (NYSE: KAI) was included in Fortune’s 2020 list of the 100 fastest-growing companies in the world. In its debut appearance on the list, Kadant was ranked by Fortune as one of the world’s best three-year performers in revenue growth, EPS growth, and annualized total return for the period ending June 30, 2020. To be eligible, companies must trade on a U.S. stock exchange and report results in U.S. dollars, among other qualification criteria.

“We are delighted to be recognized as one of the top 100 fastest-growing companies, especially while the pandemic continues to present challenges to our global economy. This recognition is indicative of our continued focus on executing our growth strategies through technology innovation and our strong commitment to our customers,” said Jeffrey L. Powell, president and chief executive officer of Kadant. “Kadant plays a critical role in solving process industry challenges with engineering expertise and solutions that reduce the utilization of natural resources, increase productivity, and minimize energy consumption to deliver the best possible solution to our customers.”

More information about the 2020 rankings is available at www.fortune.com/100-fastest-growing-companies/2020. All registered trademarks are property of their respective owners.

About Kadant

Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,700 employees in 20 countries worldwide. For more information, visit www.kadant.com.

Safe Harbor Statement

The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our products, technologies, and markets. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading “Risk Factors” in Kadant’s annual report on Form 10-K for the year ended December 28, 2019 and subsequent filings with the Securities and Exchange Commission.

Contacts

Investor Contact Information:
Michael McKenney, 978-776-2000
[email protected] 

or

Media Contact Information:
Wes Martz, 269-278-1715
[email protected] 



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Empire State Realty Trust Expands ClearView Healthcare Partners at 111 West 33rd Street

PR Newswire

NEW YORK, Dec. 17, 2020 /PRNewswire/ — Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that ClearView Healthcare Partners, a global strategy firm with consultants who serve the life science sector, signed a new eleven-year lease at 111 West 33rd Street for 39,067 square feet. The space was recaptured by ESRT from a prior tenant and fulfills the expansion needs of ClearView Healthcare Partners, who currently occupy 10,539 square feet at the property.

“It is great to expand an excellent tenant, ClearView Healthcare Partners, at 111 West 33rd Street,” said Thomas Durels, EVP, Real Estate.  “ClearView knows that they can return to the office with confidence with ESRT’s leadership in Indoor Environmental Quality.  ESRT’s portfolio is the first in North America to be certified under the WELL Health-Safety Rating, in addition to our advanced health and safety protocols and energy efficiency leadership.”

David Stockel and Brian Mackenzie from CBRE, Inc. represented ClearView Healthcare Partners in the deal. Keith Cody provided landlord representation from ESRT with Scott J. Klau, Erik S. Harris, and Neil L. Rubin from Newmark Knight Frank.


About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the “World’s Most Famous Building.” ESRT is a leader in energy efficiency in the built environment and sustainability and is the first commercial real estate portfolio in the U.S. to achieve the WELL Health-Safety Rating, an evidence-based, third-party verified rating for all facility types, focused on operational policies, maintenance protocols, emergency plans and stakeholder education to address a COVID-19 environment now and broader health and safety-related issues into the future.

In its first year of submission, ESRT has earned the highest possible GRESB 5 Star Rating and Green Star recognition, and score of 88, in the 2020 GRESB Real Estate Assessment, an achievement that places ESRT in the top 20% of all respondents.  GRESB is recognized globally as a rigorous standard widely recognized as one of the best measures of sustainability performance of real estate companies and funds.

The Company’s office and retail portfolio covers 10.1 million rentable square feet, as of  September 30, 2020, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio. 


Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of words such as “assumes,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects” or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond ESRT’s control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, the current public health crisis and economic disruption from the COVID-19 pandemic, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT’s and ESROP’s filings with the SEC, including those set forth in each of ESRT’s and ESROP’s Annual Report on Form 10-K for the year ended December 31, 2019, under the heading “Risk Factors”. Except as may be required by law, ESRT and ESROP do not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/empire-state-realty-trust-expands-clearview-healthcare-partners-at-111-west-33rd-street-301195566.html

SOURCE Empire State Realty Trust, Inc.

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IAA Expands in Two Key Markets

IAA Expands in Two Key Markets

Adding storage capacity in greater Los Angeles and Boston areas

WESTCHESTER, Ill.–(BUSINESS WIRE)–
IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announces increased capacity of its IAA High Desert branch located in Hesperia, California and the overall Boston, Massachusetts market. This investment will increase the IAA High Desert branch’s inventory space by more than 60 percent, adding capacity to the overall Los Angeles market. Additionally, the Boston market will see a 20 percent capacity increase spanning three branch locations: IAA Taunton, Templeton, and Shirley.

“Responding to strong demand and increasing inventory needs of our customers, these significant capacity increases will support growing markets on both the East and West Coasts,” said Tim O’Day, President of U.S. Operations. “Expansions continue to be a vital part of IAA’s investment strategy, allowing us to meet our customers’ needs while continuing to provide industry-leading buying and selling experiences.”

About IAA

IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique platform facilitates the marketing and sale of total-loss, damaged and low-value vehicles. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a global buyer base – located throughout over 170 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to multiple digital bidding and buying channels, innovative vehicle merchandising, and efficient evaluation services, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns. For more information visit IAAI.com, and follow IAA on Facebook, Twitter, Instagram, YouTube and LinkedIn.

Forward-Looking Statements

Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits with respect to the IAA High Desert and Boston market expansion on our business and plans regarding our growth strategies and margin expansion plan, and to our customers and company generally. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties regarding the duration and severity of the COVID-19 pandemic and measures intended to reduce its spread; the loss of one or more significant vehicle seller customers or a reduction in significant volume from such sellers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020 and in our Quarterly Report on Form 10-Q for the quarter ended March 29, 2020 filed with the SEC on May 6, 2020, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC, including subsequent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Many of these risk factors are outside of our control, and as such, they involve risks which are not currently known that could cause actual results to differ materially from those discussed or implied herein. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.

IAA Contacts

Media Inquiries:

Jeanene O’Brien | IAA, Inc.

SVP, Global Marketing and Communications

(708) 492-7328

[email protected]

Analyst Inquiries:

Arif Ahmed | IAA, Inc.

VP, Treasury

(708) 492-7257

[email protected]

Caitlin Churchill | ICR

(203) 682-8200

[email protected]

KEYWORDS: United States North America Massachusetts Illinois California

INDUSTRY KEYWORDS: Aftermarket Other Retail Automotive Technology Specialty Other Automotive Other Technology General Automotive Retail Internet Fleet Management

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Assurant Acquires EPG Insurance, Inc.

Assurant Acquires EPG Insurance, Inc.

Acquisition provides additional scale and expertise within attractive heavy equipment service contracts and insurance markets

NEW YORK–(BUSINESS WIRE)–Assurant, Inc. (NYSE: AIZ), a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced the acquisition of EPG Insurance, Inc. (EPG) for $43 million in cash. EPG is a leading provider of service contracts and insurance sold through heavy equipment dealers and manufacturers.

EPG provides and administers service contract programs for products and services sold through its global network of OEMs and OEM-branded dealer partners. Since 2018, Assurant has been the primary underwriter of EPG’s protection products for customers renting, leasing and purchasing equipment in the construction, agriculture, forestry and trucking industries. EPG’s product offerings include extended service contracts, physical damage insurance, guaranteed asset protection, rental tracking, and loss damage waivers, and EPG has seen a 40 percent growth in policies since 2018 as the result of enhanced and refocused sales efforts.

“This acquisition provides us with a unique opportunity to expand our service contract offerings and continue to strengthen and grow our market-leading presence in the automotive service contract space, globally,” said John Laudenslager, president of Assurant Global Automotive. “We are excited to gain the valuable experience and expertise of the EPG management team and employees.”

Kathy McDonald, president of Assurant Global Specialty, added, “The acquisition of EPG also allows us to further expand our distribution from equipment finance companies to dealers nationwide. This, along with our plans to grow and enhance our capabilities in the commercial equipment segment, will enable us to add scale and develop innovative new product offerings.”

Along with CEO Dale Hendrix and President Gregg Morgan, the EPG team of approximately 60 employees headquartered in Memphis, TN will join Assurant, and the business will continue to operate as a separate heavy equipment channel within Assurant. “Joining Assurant provides EPG the compelling opportunity to elevate business growth to the next level,” said Hendrix. “Our two companies share a commitment to servicing clients and consumers, and we are excited to join the Assurant team.”

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Learn more at assurant.com or on Twitter @AssurantNews.

About EPG Insurance, Inc.

EPG Insurance, Inc. is the leading provider of insurance products and service contracts for the heavy equipment and trucking industries, with representatives across the United States. The company was formed in 1987 to meet the insurance needs of heavy equipment dealers beginning in the Southeast and now specializes in physical damage insurance for commercial auto and commercial equipment, service contracts for commercial equipment, and loss damage waivers for commercial equipment.

# # #

Cautionary Statement

Some of the statements included in this news release, including those with respect to the benefits from the transaction, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained in this news release are based upon the company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the company or any other person that the company’s future plans, estimates or expectations will be achieved. Actual results may differ materially from those projected in the forward-looking statements. The company undertakes no obligation to update or review any forward-looking statements included in this news release, whether as a result of new information, future events or other developments. For additional information on factors that could affect Assurant’s results, please refer to the risk factors identified in Assurant’s reports filed with the U.S. Securities and Exchange Commission, including the risk factors identified in Assurant’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Media Contact:

Linda Recupero

Senior Vice President, Enterprise Communication

201.519.9773

[email protected]

Investor Relations Contacts:

Suzanne Shepherd

Senior Vice President, Investor Relations

201.788.4324

[email protected]

Sean Moshier

Assistant Vice President, Investor Relations

914.204.2253

[email protected]

KEYWORDS: United States North America Tennessee New Jersey

INDUSTRY KEYWORDS: Residential Building & Real Estate Building Systems Commercial Building & Real Estate Construction & Property Insurance Finance Professional Services Trucking Agriculture General Automotive Natural Resources Transport Landscape Automotive Other Construction & Property

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