A round-up of today's other business news in brief ...
Galway's Brivant bought by US company
A Galway-based medical devices firm has been bought by the US company Lake Region Medical for an undisclosed sum.
Brivant Medical, which specialises in the manufacture of devices for minimally invasive cardiac surgery and other procedures, employs about 80 people and was set up in 2000.
Following its purchase by Lake Region Medical, which already has a plant in Wexford, the combined company will employ 800 people between Galway and its New Ross site.
€10m summary judgment orders
Two businessmen have had summary judgment orders for some €10 million granted against them over guarantees provided by them to several people who invested in loan stock in a property company wound up last May.
In proceedings brought by Jeap Ltd and several investors before Mr Justice Peter Kelly yesterday, there was no appearance by or representation for either Vincent Maguire, The Folly, Oldtown, Co Dublin or Liam Moran, Back Strand, Malahide, Co Dublin.
The judge granted an application by Ciarán Lewis, for the plaintiffs, for summary judgment for almost €10 million against both men arising from guarantees provided over loan stock purchased in Stateford Ltd, with offices at WMOS House, Walkinstown, Dublin.
DigitalWorx takes 10% stake in uchoose.ie
Irish Times Group subsidiary DigitalWorx, which operates and manages myhome.ie, ireland.com and irishracing. com, has taken a 10 per cent equity stake in price comparison website uchoose.ie for an undisclosed sum.
Founded in January 2007, uchoose.ie compares prices on a range of everyday utilities and services, including digital TV, broadband, home and travel insurance, credit cards, personal loans and flights and hotels. The deal will see uchoose.ie offering price comparison services across the Irish Times Group network of sites.
Peter Callan, managing director of DigitalWorx, said the demand for price comparison has never been higher.
“By partnering with uchoose.ie, we have expanded our reach on the internet, alongside ireland.com, myhome.ie, entertainment.ie and irishracing.com,” he said.
AIG names Chartis chief
American International Group (AIG), the insurer bailed out by last year by the US government, has named Kristian Moor as chief executive officer of a rebranded property-casualty business. AIG has chosen Chartis as the new name for AIU Holdings LLC, which was placed into a special purpose vehicle to prepare for a possible public offering of the business.
The brand will not be immediately introduced in AIG’s Irish business, according to Seán Hehir, managing director of AIG Ireland.
“In Ireland we are working hard towards a seamless transition. Our local plans are well advanced and, as soon as we have established a date for using the new name on our documentation, we will notify the market. This phased approach will help us to manage an effective changeover.”
