Day: November 8, 2021

Strategic Partnership to Originate and Purchase Hospitality Loans Across All Major US Markets as Madison Newbond

NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, and Newbond Holdings (Newbond), a vertically integrated real estate investment and operating platform founded by Neil Luthra and Vann Avedisian, today announced the launch of Madison Newbond, an institutional lending platform that will provide first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide.  The partnership launched with approximately $500 million of initial lending capacity and will add scale in line with the opportunity.

Madison Newbond will build on Madison Realty Capital’s institutional lending platform and deep relationships as well as Newbond’s hospitality industry expertise and strong operational knowledge. The partnership will offer unique financing programs to new and existing borrowers across the hospitality spectrum from limited-service hotels to ultra-luxury resorts and will target opportunities including transitional lending and ground up developments across major metropolitan markets.

“The hospitality industry has experienced significant disruption throughout the pandemic and there is a clear need for creative and flexible lending solutions for hotel owners as they continue to recover from the changes to their business plans,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital. “We are enthusiastic about joining forces with Newbond to expand our product offering tailored to meet the evolving needs of hospitality real estate owners and operators.”

“We are excited to launch this partnership with Madison Realty Capital, a firm with a world-class lending platform, and a team that we are deeply familiar with, to provide a wide range of lending options to the hospitality market,” said Neil Luthra, Founding Partner at Newbond. “Madison’s substantial resources coupled with Newbond’s extensive hotel underwriting capabilities will best position the platform to identify and capitalize on exciting opportunities in the hospitality space.”

Madison Realty Capital and the principals of Newbond have significant experience lending and investing in the hospitality sector.  The principals of Newbond have completed over $15 billion of debt and equity investments.  Notable recent Madison Realty Capital transactions include a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami and a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale.

For any financing inquiries or to request additional information about the Madison Newbond platform, please contact Andrew Fichte, a partner at Newbond, at afichte@newbond.com and Josh Zegen, at josh@madisonrealtycapital.com.

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that manages approximately $6.7 billion in total assets on behalf of an institutional global investor base. Since 2004, Madison Realty Capital has completed more than $16 billion in transactions in the U.S. providing reputable borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has over 60 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings 

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms.  The partners at Newbond have completed over $15 billion of debt and equity transactions.  As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Attachments

• Josh Zegen
• Neil Luthra 

For Madison Realty Capital: Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com

For Newbond: Eric Waters
Great Ink Communications, Ltd.
212-741-2977
Eric.Waters@greatink.com

Tom Nolan
Great Ink Communications, Ltd.
212-741-2977
Tom@greatink.com

DUBAI, United Arab Emirates, Nov. 08, 2021 (GLOBE NEWSWIRE) — Barrows, the provider of hotel investment and advisory services for hotels in the Middle East and Africa is considering going public by a merger within twelve months. The company is therefore considering using a SPAC Merger structure to list on the Nasdaq.

November 8, 2021

• Independent analysis includes Centers for Medicare & Medicaid Services (CMS) data from over 700,000 peripheral arterial and peripheral venous intervention patients
• Data demonstrate a 32% reduction in major adverse limb events, such as amputations, during lower extremity arterial intervention
• When iliofemoral venous* stenting was guided by IVUS, there was a 31% reduction in the composite outcome of repeat intervention, hospitalization or death, together with a reduced risk of stent thrombosis, embolization and stenosis
• First real-world study by the Smith Center for Outcomes Research shows the value of IVUS in broad peripheral vascular patient populations, emphasizing the importance of IVUS in optimizing patient care

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology and IVUS solutions, today announced the results of a new large-scale real-world analysis of Centers for Medicare & Medicaid Services (CMS) data on the health outcomes of peripheral vascular interventions guided by intravascular ultrasound (IVUS). The study was conducted independently by the Smith Center for Outcomes Research, with the results presented at the 2021 Transcatheter Cardiovascular Therapeutics (TCT) meeting by Eric A. Secemsky, MD, Director of Vascular Intervention and Interventional Cardiologist at Beth Israel Deaconess Medical Center and Assistant Professor of Medicine at Harvard Medical School in Boston, Massachusetts. The study, supported by Philips, underlines the company’s commitment to a strong evidence base for its innovations in the pursuit of better patient outcomes, enhanced patient and staff experiences, and lower cost of care.

Numerous prospective studies have already shown the benefit of IVUS guidance in peripheral vascular interventions, making it a gold-standard imaging modality for this application. The new study results now show that the outcome observations from these prior studies apply directly to a broader peripheral arterial and peripheral venous intervention patient population, demonstrating strong support for the use of IVUS during peripheral interventions.

“The results of this large-scale study demonstrate favorable long-term outcomes in peripheral vascular interventions when IVUS is used,” said Eric Secemsky, MD. “This analysis, combined with the recent appropriate use consensus on IVUS that was presented at VIVA in October, highlights a clear opportunity to improve health outcomes for millions of patients by broader and more routine implementation of the technology in clinical practice. This is a moment for us to further our efforts in saving lives and saving limbs.”

Peripheral artery disease (PAD): a 32% reduction in major adverse limb events, including amputations, during lower extremity arterial interventions
The study looked at Medicare beneficiaries aged 65 years or older who underwent lower extremity arterial interventions between January 1, 2016, and December 31, 2019. Among 697,794 interventions, the investigators found a 32% reduction in major adverse limb events, such as amputations, over a median 425 days of follow-up. These findings were consistent across disease states, including critical limb ischemia and non-critical limb ischemia, as well as arterial segments such as the iliac (hip area), femoropopliteal (upper leg area) and tibial (lower leg area).

Peripheral artery disease develops when plaque builds up in the vessel wall and reduces blood flow to the limbs, most commonly the legs. It affects more than 8.5 million people in the USA [1]. PAD symptoms include recurrent fatigue, leg pain, and foot or leg wounds that do not heal or heal very slowly. Critical limb ischemia (CLI) is an advanced stage of PAD and is typically associated with high rates of cardiovascular events, amputations, and mortality. CLI patients have low survival rates, with 5-year mortality exceeding 50% [2].

Chronic venous disease (CVD): a 31% reduction in repeat intervention, hospitalization, or death during iliofemoral venous stenting
Separately, the investigators examined Medicare beneficiary data for patients treated between January 1, 2017, and December 31, 2019, in multiple clinical settings, including hospital in-patient settings, hospital outpatient centers, and private office-based clinics, involving 20,984 individual patients. Of these, 72% underwent stenting guided by IVUS. When IVUS was used, there was a 31% reduction in the composite outcome of repeat intervention, hospitalization, or death. In addition, IVUS use reduced the risk of stent thrombosis, embolization and stenosis.

Chronic venous disease (CVD) is both a common and underappreciated problem impacting over 30 million Americans [3]. Advanced CVD impacts over 6 million people in the USA and iliofemoral venous obstruction costs as much as USD 3 billion per year for ulcer care in advanced presentations [4].

“We commend Dr. Secemsky and the Smith Center for Outcomes Research for this on-going study to simplify clinical procedures and improve clinical and patient outcomes,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “We are committed to supporting evidence-based medical guidelines in pursuit of better patient outcomes. We believe that the ability of IVUS to deliver procedure optimization and confidence enhances patient and staff experiences and lowers cost of care.”

First-ever global consensus for the appropriate use of IVUS in PVD interventions
In October 2021, a team of clinical experts led by Eric Secemsky, MD, established the first-ever global, cross-specialty expert consensus for the appropriate use of IVUS in peripheral vascular disease interventions. This initiative was jointly supported by Philips and Boston Scientific. Today, healthcare providers’ use of IVUS in PVD interventions is not standardized and is therefore inconsistent. The new appropriate-use expert consensus may help establish global standards of care to adopt into guidelines and improve quality of care in PVD.

To achieve consensus, the broad, multi-disciplinary group of global experts used a rigorous methodology. They conducted a systematic and comprehensive review of key clinical IVUS scenarios and decision-making processes before voting on the appropriate use consensus. Through this methodology, the group has established a clinical consensus to identify the optimal use of IVUS and potential knowledge gaps in order to set a standard across clinical specialties and drive positive outcomes for patients. Their findings were shared at a special symposium during Vascular Interventional Advances (VIVA) 2021.

Intravascular ultrasound (IVUS)
Philips is the global leader in IVUS solutions, which are part of the company’s comprehensive portfolio of systems, smart devices, software, and services for peripheral vascular disease aimed at helping clinicians decide, guide, treat, and confirm the right therapy for each patient during their procedure. Phased-array IVUS is an important imaging tool used during venous and arterial interventions. It provides the fast plug-and-play usability and high-fidelity image resolution needed for pre-procedural planning, intra-procedural guidance, and post-procedural optimization of therapy for patients. Using a miniaturized ultrasound transducer mounted on the tip of a catheter, it captures real-time images of vascular disease inside vessels, enabling physicians to standardize and improve procedure care for their patients. Additional workflow optimization is enabled by integrated suite offerings such as Philips’ Azurion 7 with IntraSight platform.

*The venous at the hip joint where the veins from the left and right leg come together into the abdominal aorta
[1] https://www.ahajournals.org/doi/pdf/10.1161/CIR.0000000000001005
[2] Duff S, Mafilios MS, Bhounsule P, Hasegawa JT. The burden of critical limb ischemia: a review of recent literature. Vasc Health Risk Manag. 2019;15:187-208. Published 2019 Jul 1. doi:10.2147/VHRM.S209241 & https://journals.sagepub.com/doi/full/10.1177/1358863X211028298
[3] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5920451/
[4] https://doi.org/10.1161/CIRCULATIONAHA.113.006898

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

Fabienne van der Feer
Philips Image Guided Therapy
Tel: + 31 622 698 001
E-mail: fabienne.van.der.feer@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

• Philips intravascular ultrasound (IVUS) imaging – 1
• Philips intravascular ultrasound (IVUS) imaging – 2

The Canadian company is currently participating in the World Climate Summit and has recently renewed its climate neutral certification for the fourth year running.

MONTREAL, Nov. 08, 2021 (GLOBE NEWSWIRE) — Climate issues are more crucial than ever, and the ALDO Group is dedicated to maintaining its commitment to building a low-carbon future. In addition to announcing the renewal of its climate neutral certification for a fourth consecutive year, the company is currently participating in the 11^th World Climate Summit in Glasgow, Scotland. A few weeks ago, the Canadian fashion footwear company also joined We Mean Business, an international coalition of more than 600 companies calling upon the leaders of the world’s largest economies to reinforce their climate action objectives during the G20 and COP26 discussions.

“Inspired by the COP21 in Paris 6 years ago, we made a decision in 2018 to become the first climate neutral fashion footwear company. This year’s COP will be a critical meeting – there is massive worldwide support for bold action on climate change. We hope that our participation will contribute in a small way to a very big global challenge,” said David Bensadoun, CEO of the ALDO Group.

World Climate Summit: Rallying the Fashion Industry’s Stakeholders

On November 8 at 10 a.m. (GMT), Jonathan Frankel, Senior Vice-President of APS at the ALDO Group, will join the panel Lead by Example – Harnessing Innovation Towards a Carbon Neutral Fashion & Textile Industry to discuss how the fashion industry can work towards reducing its environmental footprint and how collaboration between manufacturers, designers and consumers is key to reach carbon neutrality.

“The long-term sustainability of the global fashion industry requires systemic change that goes beyond the capabilities of any one company. We cannot fight this problem alone. We strongly believe in collaboration, and that is why we wanted to take part in this unifying event,” said Jonathan Frankel.

Well aware that the fashion industry has an impact on global warming, the ALDO Group intensified its climate actions in recent years. The organization is also a member of multi-stakeholder associations that promote partnerships for concerted industry-wide actions, such as the Sustainable Apparel Coalition (SAC), the Fashion Pact and the United Nations Fashion Industry Charter for Climate Action (UNFCCC).

The ALDO Group’s Journey Towards Reducing Its Carbon Footprint

In 2018, the ALDO Group became the first fashion footwear and accessories company in the world to be certified climate neutral for its corporate stores, offices and distribution centres. The organization then reinforced its environmental commitment by also having eCommerce shipments and product transportation certified climate neutral.

In 2020, the company reduced carbon emissions from its operations by 74% compared to 2013. This year, it carried forward its sustainability journey by continuing to reduce its net emissions and compensating the unavoidable ones through a combination of nature-based forest conservation and clean energy projects. And for the fourth consecutive year, the ALDO Group has received its climate neutral company certification from the South Pole Group – a leading provider of global sustainability solutions and services with a transparent and rigorous certification process.

“It’s very exciting to see the ALDO Group continuing to make progress on climate action. The company has demonstrated industry leadership and we congratulate them on their commitments and ever-increasing ambition,” said Renat Heuberger, CEO and co-founder of South Pole.

Having achieved significant reductions for its operations’ emissions, the ALDO Group has been addressing other important issues: from waste management to its positive impact on local communities, from teaming up with partners to improve their social and environmental footprint to promoting diversity and inclusion. In terms of products, the company aims to continue introducing more innovative low impact materials in its collections and to increase its use of recycled materials, such as polyester. The company is also working to decarbonize it supply chain by working closely with its suppliers.

It is also important to remember that in 2019, the ALDO Group joined the Science Based Targets Initiative (SBTi). Its GHG reduction targets are therefore in line with climate science.

Member of the We Mean Business Coalition

Recognizing the need for collective climate action, the ALDO Group signed the We Mean Business coalition’s open letter earlier this month. Ahead of the crucial G20 and COP 26 summits, more than 600 companies from around the world called on the leaders of the world’s largest economies to do their utmost to limit global temperature rise to 1.5 °C and to reinforce their objectives. The signatories represent sectors ranging from energy and transportation to fashion and construction.

To read the letter and consult the list of companies who signed it, please visit https://www.wemeanbusinesscoalition.org/g20-2021/#letter-block.

For more information about the ALDO Group’s commitment to sustainability, please visit https://responsibility.aldogroup.com/.

About the ALDO Group
The ALDO Group is a world-leading creator and operator of desirable footwear and accessory brands. With a presence in over 100 countries around the world, the organization operates under two signature brands, ALDO and Call It Spring, and a multi-brand retail concept, GLOBO. The ALDO Group is also an industry-recognized wholesale distributor and third party sourcing provider of fashion footwear, handbags and accessories. In addition to its head office in Montreal, the ALDO Group has international offices in Europe and in Asia. Guided on a daily basis by its purpose A journey to create a world of love, confidence, and belonging, the ALDO Group is simply unique. For more information, visit www.aldogroup.com.

Media Contact:
press@aldogroup.com

November 8, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has signed an agreement to acquire Cardiologs, a France-based medical technology company focused on transforming cardiac diagnostics using artificial intelligence (AI) and cloud technology. Cardiologs will further strengthen Philips’ cardiac monitoring and diagnostics offering with innovative software technology, electrocardiogram (ECG) analysis and reporting services. The transaction, which is subject to customary closing conditions, is expected to be completed in the coming months. Financial details of the transaction were not disclosed.

The acquisition of Cardiologs is a strong fit with Philips’ existing portfolio of cardiac care solutions. This includes real-time patient monitoring, therapeutic devices, telehealth and informatics for the hospital, as well as ambulatory cardiac diagnostics and monitoring solutions, that were added through the recent acquisition of BioTelemetry, Inc.

Cardiologs will complement this offering with a vendor-neutral heart disorder screener and ECG analysis applications, based on machine learning algorithms. Developed in partnership with leading physicians, Cardiologs’ technology accelerates diagnostic reporting, decreases the occurrence of reporting errors and streamlines clinician workflow and patient care, empowering clinicians to deliver expert cardiac care faster and more efficiently. CE-marked and FDA cleared for detection of cardiac arrhythmias, Cardiologs’ technology is built on a growing database of more than 20 million ECG recordings and supported by a number of clinical publications.

“Offering superb clinical insights, as well as automated clinical reporting, Cardiologs’ medical-grade AI technology and data scientists will be a strong addition to our growing portfolio of cardiac solutions for hospital and ambulatory settings,” said Roy Jakobs, Chief Business Leader Connected Care at Royal Philips. “Philips’ global footprint can accelerate the availability of Cardiologs’ technology to patients all over the world and further deliver on the quadruple aim of an improved patient care experience, better health outcomes, improved staff experience, and lower cost of care.”

“We are delighted to become part of Philips and continue innovating together to provide solutions that empower clinicians all around the world,” said Yann Fleureau, Co-Founder and CEO of Cardiologs. “We look forward to the opportunity to expand the business as part of Philips, maintaining vendor neutrality and continuing to work with third party vendors to drive further adoption of digital health solutions globally.”

Cardiologs was founded in 2014 and is headquartered in Paris, France. Its approximately 70 employees, largely comprising software engineers and data scientists with expertise in AI and deep learning algorithms, will join Philips and will expand the company’s continued AI-focused innovation activities together with the company’s R&D lab in Paris. Philips has a strong presence in France, consisting of research and development activities, as well as sales, marketing and distribution at multiple sites.

For further information, please contact:

Steve Klink
Philips Global Press Office
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

Attachment

• Cardiologs acquisition