Health startups dominate InvestMaryland Challenge

Of the 41 technology startups to advance in the latest round of the InvestMaryland Challenge, 16 companies are related to medicine or health care, state officials announced today. The InvestMaryland Challenge is an initiative of the Maryland Department of Business and Economic Development that seeks to grow entrepreneurship and innovation in the state by doling out cash and other prizes to early-stage technology startups. (Daily Record)

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Willard Hackerman, company president and philanthropist, dies

Philanthropist Willard Hackerman, who transformed a small construction firm into a national giant with $5 billion in annual billings and was instrumental in erecting Maryland landmarks such as Harborplace, died Monday of unknown causes at Johns Hopkins Hospital. He was 95. His firm, Whiting-Turner Contracting Co., completed the new University of Baltimore School of Law last year and built the Joseph Meyerhoff Symphony Hall, the National Aquarium and M&T Bank Stadium, among countless other projects around the city and state. (Balt. Sun)

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Feb. 11 // 1st Mariner Bank to be sold to investors

The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis. A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million. (Balt. Sun)

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Whiting-Turner names Timothy Regan as next CEO

Whiting-Turner Contracting Co. Executive Vice President Timothy J. Regan will replace Willard Hackerman as CEO of the 105-year-old company in the wake of Hackerman’s death Monday morning at age 95. Hackerman, who was CEO for nearly 60 years, was only the second CEO in the company’s history. He is known as the only CEO to everyone in the company, Regan said in a statement. (Balt. Bus. Journal)

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NeighborCare shifting away from retail pharmacies

The closing of five Baltimore-area NeighborCare Pharmacies on Friday was part of parent company Omnicare Inc.'s move away from retail pharmacies to focus on its core business serving institutions, an Omnicare spokesman said Monday. Cincinnati-based Omnicare had acquired the now shuttered pharmacies as part of a broader acquisition of NeighborCare. (Balt. Sun)

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Gilman School board connects Baldwin, Feinglass for First Mariner deal

Howard Feinglass met H. Furlong Baldwin while both men were serving on the Gilman School’s board of trustees. Feinglass, a New York investor, is a Gilman graduate who has kept strong ties with his alma mater. Baldwin is a Baltimore banking legend who made his name leading the former Mercantile Bankshares, a banking powerhouse that sold to Pittsburgh’s PNC in 2007. (Balt. Bus. Journal)

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Rice: Montgomery County will protect minimum-wage increase

Montgomery County is vowing to protect its minimum wage hike, even as a newly released report by a pro-business group concluded that a statewide increase could be harmful. The Montgomery County Council is keeping a close eye on possible efforts in Annapolis to limit whether counties can increase minimum wages, as Montgomery and Prince George’s counties did in November, Council President Craig L. Rice said Monday. (Gazette)

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Glen Burnie-based Haines, top U.S. flooring distributor, acquires rival

Glen Burnie-based J.J. Haines & Co. Inc. cemented its spot as the nation's largest floor covering distributor with the recent acquisition of the third-largest distributor, CMH Space. Haines, a wholesaler that sells to nearly 10,000 independent specialty flooring stores in the Mid-Atlantic and southeastern United States, finalized the acquisition Jan. 17 for an amount it declined to disclose. The combined company will have annual sales of more than $500 million, more than 750 employees and 38 locations. (Balt. Sun)

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