Corporate Report: Dec. 23

ITC Global selling majority interest
Riverside Partners, a Boston-based private equity firm, has entered into an agreement to acquire a majority equity interest in St. Petersburg-based satellite communications services company ITC Global.

As part of the transaction, Riverside Partners will also provide the company with “significant capital” to support ITC's future growth initiatives.

ITC Global provides enterprise-grade satellite communications services particularly to mining, energy and maritime businesses operating in remote or harsh environments. ITC Global maintains facilities across the Americas, Europe, Asia, Australia and Africa and network operations centers in St. Petersburg; Harahan, La.; and Perth, Western Australia.

“My management team and I were searching for a partner who took the time to understand our technology and end markets, and could provide the strategic and financial resources for our continued growth,” Joseph Spytek, co-founder and CEO of ITC Global, says in a press release.

Steven Kaplan, general partner at Riverside Partners, says the investment was based on his firm's belief that ITC Global has built a technologically advanced platform with significant growth potential.

Founded in 1989, Riverside Partners is a middle-market private equity firm focusing on growth-oriented companies in the health care and technology industries.

Quarles & Brady hires Bulloch to head Naples office
Quarles & Brady LLP announced that T. Robert Bulloch has been named managing partner of the firm's Naples office. Bulloch succeeds Naples co-managing partners Kimberly Leach Johnson and Timothy Hains.

“We are excited to have Rob take on this role,” John Daniels Jr., chairman of Quarles & Brady, says in a press release. “He is deeply rooted in the Naples community and he has the vision and business acumen crucial to running a successful law office.”

Bulloch, who joined the firm in 2003, practices in the areas of estate planning and administration, advanced transfer tax planning, business succession planning, and probate disputes and fiduciary litigation.

Quarles & Brady LLP is a full-service law firm with 425 attorneys with offices in Phoenix and Tucson, Ariz.; Chicago; Naples and Tampa; Milwaukee and Madison, Wis.; and Shanghai, China.

myMatrixx offering risk tool to find potential drug abusers
Tampa-based myMatrixx, a pharmacy and ancillary medical benefits management company, has released myRisk Predictor, a patent-pending risk assessment tool designed to identify injured workers at high risk for abuse and misuse of prescription medications. It combines predictive modeling with historical data and algorithms developed by the myMatrixx clinical team. This real-time tool alert is designed for insurance carriers, third-party administrators and self-insured entities.

“Claims adjusters are typically managing so many cases that there is little time to analyze risk associated with the medications prescribed to injured workers,” Phil Walls, chief clinical and compliance officer with myMatrixx, says in a press release. “Additionally with alarming increases in the rates of drug costs, fraud and abuse, our clients are seeking intervention before a case may spiral out of control.

The predictor tool allows its clients also to assign weights to certain criteria in the model based on their specific needs.

Once individuals are identified using the risk predictor, myMatrixx says its clinical team can provide a drug regimen review, peer-to-peer intervention with the treating physician and assist with developing an alternative treatment plan.

Venice healthy cookie company is now Omega3 Innovations
Venice-based AMBO Foods, the creator of the Omega Cookie and other omega-3 supplements, has changed its name to Omega3 Innovations.

Dr. Bo Martinsen and his wife, Dr. Anne-Marie Chalmers founded Ambo Foods Inc. in 2008 in Venice.

“The 'innovation' behind our products is based on our ability to incorporate clinically effective amounts of omega-3 fish oil into baked food products,” Chalmers says in a press release. “And, now customers won't have to deal with two different companies and two different websites.”

The new name also better reflects the couple's area of expertise and their unique approach to helping people improve their health by getting enough omega-3 fatty acids, Martinsen said.

myMatrixx offering risk tool to find potential drug abusers
Tampa-based myMatrixx, a pharmacy and ancillary medical benefits management company, has released myRisk Predictor a patent-pending risk assessment tool designed to identify injured workers at high risk for abuse and misuse of prescription medications. It combines predictive modeling with historical data and algorithms developed by the myMatrixx clinical team. This real-time tool alert is designed for insurance carriers, third-party administrators and self-insured entities.

“Claims adjusters are typically managing so many cases that there is little time to analyze risk associated with the medications prescribed to injured workers,” Phil Walls, chief clinical and compliance officer with myMatrixx, says in a press release. “Additionally with alarming increases in the rates of drug costs, fraud and abuse, our clients are seeking intervention before a case may spiral out of control.

The predictor tool allows its clients also to assign weights to certain criteria in the model based on their specific needs.

Once individuals are identified using the risk predictor, myMatrixx says its clinical team can provide a drug regimen review, peer-to-peer intervention with the treating physician and assist with developing an alternative treatment plan.