Corporate Report: Moffitt awarded $19 million in grants

The Moffitt Cancer Center in Tampa has been awarded nearly $19 million in grants from the National Institutes of Health under the American Recovery and Reinvestment Act of 2009, including $4 million to study patient-centered outcomes research in personalized medicine, one of only seven such grants so far awarded.

The grants “allow us to move forward more quickly on a variety of fronts, accelerating the process of translating scientific discoveries into more effective patient care,” William S. Dalton, center director and CEO of Moffitt, said in a press release.

Moffitt has applied for 110 Recovery Act funded grants. Through October, 26 grants have been awarded, representing the largest portion of the cancer-related National Center Institute money awarded in Florida through the Act.

Moffitt ranks 23rd out of 757 grantee institutions by the NCI for all categories of grants with more than $41.5 million in funding.

The firm also plans to use the grants to study how tumors grow and their resistance to drugs, the body's immune response to cancer and the genetic makeup of cancers.

The NCI has also created a Physical Science-Oncology Center at Moffitt.

Gerdau Ameristeel signs loan to prepay $610-million debit
Gerdau Ameristeel Corp. of Tampa has agreed to borrow $610 million from with Gerdau Holdings Inc., a subsidiary of Gerdau S.A. in an arm's length transaction.

The loan, which is expected to be funded on Dec. 3, will be a senior, unsecured obligation at a 7.95% interest rate, and will mature on Jan. 20, 2020. Interest will be payable semiannually, starting on July 20, 2010.

The loan represents half of the proceeds of the $1.25 billion in bonds issued by Gerdau Holdings Inc. on Nov. 18.

Gerdau Ameristeel plans to use the net proceeds to prepay $510 million of its outstanding tranche-A term debt and $100 million of its outstanding tranche-C term debt.

Gerdau Ameristeel is the second-largest mini-mill steel producer in North America.

Health Management Associates buys Sparks Health System
Naples-based Health Management Associates Inc. has acquired the 492-bed Sparks Health System in Fort Smith, Ark.

Through its subsidiaries, Health Management owns and operates 55 hospitals, with 8,400 licensed beds.

NeoGenomics hires Cardoza, expands duties of Jones
Fort Myers-based NeoGenomics Inc. has hired George Cardoza as its chief financial officer, and appointed Steven Jones to executive vice president of finance while he also continues as director of investor relations.

Cardoza, who most recently was chief financial officer of Protocol Global Solutions, Inc., an international marketing company, will manage all internal financial operations.

Prior to joining Protocol in 2006, he held several positions with Quest Diagnostics, including as controller of the central region with responsibility for 11 laboratories.

Douglas VanOort, chairman and CEO of NeoGenomics, said in a press release, “I had the privilege of working with George for eight years during my own time at Quest Diagnostics and he brings outstanding financial management skills to our company.”

He added that Jones “has served as 'Acting CFO' for the last seven years, and brings a wealth of experience and strategic skills to his new role.”

NeoGenomics Inc. is a CLIA-certified clinical laboratory that specializes in cancer genetics diagnostic testing.

Clearwater's Inuvo buys Zubican.com B2B Web site
Clearwater-based online marketing services provider Inuvo Inc. acquired the Web site zubican.com, a Southern California-based online business community connecting business buyers and sellers.

Most of the terms of the purchase were not released, but Inuvo disclosed it will pay a royalty based on a percentage of the gross profit derived from the site over a four-year period.

Both companies have approved the transaction, but the deal is still subject to other closing conditions.