Latest news with #Vital
The Hindu
30-05-2025
- Health
- The Hindu
Partnership to strengthen public health system in T.N.
The Centre for Cellular and Molecular Platforms (C-CAMP) has partnered with the Government of Tamil Nadu to strengthen the public health system in the State through indigenous and innovative health technologies. Through this, Corporate Social Responsibility (CSR) and philanthropy partners can enable joint projects led by the Tamil Nadu government and C-CAMP. As a part of this, the Directorate of Public Health (DPH) and Preventive Medicine, Tamil Nadu and C-CAMP came together to host a 'Roundtable on Public Health 2025'. During this, they announced a strategic alliance with the aim to strengthen the State's comprehensive primary healthcare delivery through the implementation of indigenous health solutions and medical innovations. C-CAMP, a deep-science innovation hub, is an initiative supported by the Department of Biotechnology, Government of India. Already, three key healthcare programmes were initiated in the State. Public health officials said that the initiatives were piloted through a collaboration with C-Camp with CSR support. One of the initiatives was 'Strengthening Last Mile Cold Chain Healthcare for Routine Immunisation and COVID-19 Vaccination' using an electronic active vaccine carrier. As part of this, solar power systems were installed at four Primary Health Centres (PHC) in Dindigul district to ensure reliable power for critical vaccine storage and medical equipment. The next phase will involve solarisation of the maternity ward operating theatre/labour room in Government Kodaikanal Hospital, a press release said. In another initiative, devices for early screening of Diabetic Peripheral Neuropathy were introduced at selected PHCs in three districts. During the COVID-19 pandemic and immediately after, Contactless Remote Vital Parameter Monitoring Technology was deployed in public hospitals of Coimbatore, Madurai, Tirunelveli and Chennai with CSR support. Health Secretary P. Senthilkumar, Mission Director of National Health Mission, Tamil Nadu Arun Thamburaj, Director of Public Health T.S. Selvavinayagam and Taslimarif Saiyed, C-CAMP director, participated.
National Business Review
29-05-2025
- Business
- National Business Review
Quick Takes of the Week to May 30
Tuesday May 27 Vital cabling. Vital trading halt extended Listed telco infrastructure company Vital extended a trading halt in place since yesterday, following a takeover approach. The company was last year the subject of takeover interest from property developer Simon Herbert's Empire Capital, but the offer was withdrawn last September. A notice to the NZX on Monday said Vital had requested a trading halt after it received communication from "a credible third party ... that it intends to provide a takeover notice for a takeover offer for Vital during trading hours later today". The halt was set to remain in place until the takeover notice is released but, on Tuesday, the company said the third party had encountered an "unexpected technical matter". "The third party has confirmed to Vital that it is in the process of addressing that technical matter and still intends to provide the takeover notice later this week." NZ, Vietnam sign timber deal Forestry and Trade Minister Todd McClay says a new cooperation agreement with Vietnam, which recognises NZ radiata pine under the southeast Asian country's building standards, will boost forestry trade between the two countries. NZ exported $5.75 billion worth of forestry products during the June 2024 year, of which 57% went to China, according to Stats NZ. Australia, at $537.8m in exports, and the US, at $361m, round out the top three markets by export value. About 56%, or $3.2b, of revenues came from logs and poles, with sawn timber and sleepers, wood pulp, and paperboard accounting for the bulk of the remainder. Forestry exports to Vietnam were valued at $91.4m last year, with sawn timber accounting for $37m of that. 'Vietnam's economy has more than doubled in the past decade and is expected to see some of the fastest global income growth over the next. That means more construction, more demand for sustainable products, and more opportunity for New Zealand timber," McClay said. Wednesday May 28 Smartpay sinks to annual loss as it pursues NZ growth plan Dual-listed payment terminal provider Smartpay has reported a $723,000 after-tax loss for the year to the end of March, down from an $8.4 million profit in the prior year. Consolidated revenue was up 8.5% to $104.7m, from $96.5m in FY24, while earnings before interest, tax, depreciation and amortisation dropped from $21.3m to $16.6m due to a $4.9m "pre-investment" in its New Zealand business. The investment is intended to spur future revenue growth, as it continues with a plan to become an "acquirer", allowing it to clip the ticket between the consumer, the bank and the card issuers. The company said the result reflected "ongoing execution and growth in the Australian market in a challenging economic environment ... We have continued with our approach of measured investment in our growth, leveraging operating cash flows and available debt facilities to position the business best to both deliver on short term tactical opportunities and longer-term strategic potential." Rocket Lab enters payload market with US$275m acquisition Rocket Lab has agreed to acquire Arizona-based company Geost for US$275 million in a deal it said marks its formal entry into the satellite payload segment, and strengthens its position as a provider of end-to-end national security space solutions. Geost is an "electro-optical and infrared (EO/IR) payload development and manufacturing company and provider to high-priority national security satellites". It is currently owned by Lightridge Solutions, a portfolio company of ATL Partners. The deal involves a mix of US$125m of cash, US$150m in privately placed Rocket Lab stock and up to US$50m in potential additional cash earnout payments tied to revenue targets. Rocket Lab CEO Sir Peter Beck said the deal would bring advanced EO/IR payloads in-house "to support secure, responsive, and cost-effective systems at scale". He said the tech would enable spacecraft to detect, interpret and respond to threats in real time, and would enhance its role as a trusted provider to the US and its allies. Sue Tindal. New board appointments for KiwiRail Infrastructure Commission deputy chair Sue Tindal has been appointed chair of KiwiRail and the New Zealand Railways Corporation. Port Taranaki chair Jeff Kendrew has been appointed deputy chair of KiwiRail, while Rob Jager, who has been acting chair since last year, remains on the board. Liz Ward has been reappointed to the KiwiRail board, and Nicola Greer has been reappointed to the NZ Railways Corporation board. Rail Minister Winston Peters said the new appointments to KiwiRail brought commercial, freight and rail experience to the board. 'We want railways to be successful for New Zealand and have every expectation that a focus on lower cost, higher reliability, increased volumes, improved safety and better performance will be delivered on,' Peters said. Groser to lead push for 'supercritical' geothermal energy Former Trade Minister and ambassador to the US, Tim Groser, has been appointed chair of a new Supercritical Geothermal Governance Group, as the Government ramps up efforts to tap into New Zealand's deep geothermal resources. Regional Development Minister Shane Jones says exploratory drilling is about a year away, with potential sites in the Taupō Volcanic Zone soon to be finalised. The $60 million initiative, funded from the Regional Infrastructure Fund, aims to drill exploratory wells reaching depths up to 6km — nearly double current geothermal wells — to access energy outputs potentially three times greater than conventional geothermal systems. Alongside Groser, the governance group includes prominent Māori leader Dr Charlotte Severne, former Transpower chairman Keith Turner, and Vector chief financial officer Jason Hollingworth. El Cheapo Cars must compensate hundreds of borrowers El Cheapo Cars has been sentenced in the Porirua District Court for failing to provide key information to borrowers about their loans. The Wellington-based motor vehicle trader and finance lender pleaded guilty to seven charges the Commerce Commission filed under the Credit Contracts and Consumer Finance Act (CCCFA). El Cheapo Cars has now been fined $115,000 and ordered to pay $341,931.46 in compensation to hundreds of affected borrowers. El Cheapo Cars breached its obligations under the CCCFA when providing personal and vehicle finance to borrowers between 2015 and 2021. The commission opened its investigation into El Cheapo in October 2021, following a customer complaint. The ComCom has also filed civil proceedings against Go Car Finance and Second Chance Finance in the High Court, with allegations that both lenders also breached the CCCFA when providing car finance to borrowers. Thursday May 29 Promisia Healthcare result boosted by acquisitions NZX-listed Promisia Healthcare has reported upbeat annual results because of acquisitions, as it targets 'sustainable expansion' in New Zealand. The company's revenue rose 37% to $31 million in the year ended March, compared with the previous year. Net profit was up 318% to $6.8m. Chair Rhonda Sherriff said it was well-positioned for sustainable expansion after building a strong financial and strategic platform. During the year, the company purchased two care facilities and villages in Cromwell, completed the sale of the Eileen Mary facility, and actioned a $4.7m capital raise and share consolidation. It said revenue growth was driven by the Cromwell acquisitions, increased occupancy across several facilities, and growth in deferred management fees from villa and care apartment sales. Net profit growth also reflected improvement in operational earnings and recognition of a $6.6m gain from acquisitions. Gentrack and Amber executives. Gentrack invests another $4.8m in electricity retailer Amber NZX-listed software company Gentrack has agreed to invest another A$4.5 million in Australian electricity retailer Amber, as part of an A$45m funding round. Gentrack announced an A$12m ($12.9m) investment in Amber as part of its A$29m Series C funding round, and a strategic partnership, in February last year. In a short market announcement today, Gentrack said the partnership "positions both businesses to together meet the rising global demand for customer-centric, smart energy services. Amber's strategy includes licensing its technology through Gentrack's global network of utility customers, offering bundled solutions that combine Gentrack's billing and CRM systems with Amber's automation software." Gentrack reported last week that its $7.2m net profit after tax for FY25 included its $1.1m share of a loss from the 10% investment in Amber. Blackpearl's loss widens as it targets $20m ARR within 12 months Blackpearl Group has reported a $9.2 million loss for FY25 – wider than the prior year's $5.4m loss – as its annual recurring revenue rose 70% year-on-year to $12.5m. The NZX-listed lead generation software company reported a 91% rise in subscription revenue, with average revenue per user up 53% since the half-year. Its Pearl Diver product had reached around $10m in ARR, and its new AI-based Bebop offering was ready to scale up, said CEO Nick Lissette. Blackpearl's gross margin dropped from 71% in FY24 to 68% in FY25, reflecting a temporary duplication of data supply contracts, it said. 'As our legacy data provider rolls off in Q1, margin expansion is expected to begin from Q2. Beyond that, Blackpearl will start to see benefits from the new flat fee arrangement, as revenue continues to scale.' The company was targeting $20m ARR within the next seven to 12 months, it said, "with clear visibility toward $50m as Pearl Diver and Bebop both reach critical mass". Ebos' largest shareholder offloading $950m stake The largest shareholder in healthcare and animal care company Ebos Group is looking to sell 13.2% of the company in a block trade worth about $949 million. Sybos Holdings wrote to Ebos yesterday advising the company of its intention. It is understood to have engaged UBS to underwrite the share sale. Sybos will retain a 4.9% stake in the company following the sale and has agreed to an escrow arrangement for that stake for 90 days following the sale. It is Sybos' first sale of Ebos shares since 2020. "Sybos continues to remain supportive of the company's business and announced strategy," the letter said. "Sybos' decision to reduce its ownership in Ebos supports diversification of assets and redeployment of capital to other growth opportunities." Sybos has not had a director representative on the Ebos board for several years and said it did not possess any information that a reasonable person would expect to have a material effect on the price or value of Ebos' shares. Eroad's former suitor sells 18.7% stake on market The Canadian investor that made a takeover offer for NZX- and ASX-listed software company Eroad has sold its entire 18.7% stake for nearly $26 million. Brillian, part of the Volaris group, a wholly owned subsidiary of Toronto Stock Exchange-listed Constellation Software, made a $1.30 per share cash offer for Eroad in June 2023, valuing it at $146.8m. At the time, Brillian initially disclosed a 17.73% stake, and then upped it to 18.7% in July. However, Eroad's board dismissed the offer as materially undervaluing the company, and said it would not proceed to due diligence. Brillian then said it had no intention to increase its offer, despite some media conjecture and shares reaching as high as $1.41. A filing to the NZX this morning said Brillian sold 21,318,415 shares on market, via the ASX, for A$24,089,808, which equates to an average price of A$1.13 per share. Yesterday, Eroad's ASX-listed shares were up 15.7% to A$1.25, and up 17% to $1.35 on the NZX. Precinct to build $290m Auckland University student digs Inner city commercial developer Precinct Properties has appointed Haydn & Rollett as the main build contractor for the construction of its $290 million student accommodation at 22 Stanley Street. The NZX-listed company announced today it would build the purpose-built, 960-unit facility for the University of Auckland at the Carlaw Park student village in Auckland. In tandem, the company had entered into an investment partnership with a Singapore-based institutional investor, it said. Construction is expected to start shortly on the university project, ahead of its announced plans to build a vertical, 32-level, 638-room student residence at 256 Queen Street. That development would likely come at a cost of $180m, the company said. Precinct chief executive Scott Pritchard said the project supported the "execution of Precinct's pipeline of well-located new student accommodation opportunities". Precinct, as developer and property manager, will retain a 20% interest in the partnership. New government fund to boost Māori-led innovation The Government has announced a new consolidated funding initiative, He Ara Whakahihiko, designed to bolster Māori-led research and innovation. Science, Innovation and Technology Minister Dr Shane Reti says the fund will "break down barriers Māori researchers and entrepreneurs face," enhancing Māori representation in the science and technology workforce. He Ara Whakahihiko merges two previously separate funding streams with a total investment of $8.6 million. Of this, approximately $2.1 million will fund projects with immediate commercial and economic impact, while $6.5 million is allocated for longer-term collaborative partnerships. Nearly $2 million will go to the Health Research Council. The fund opens for proposals on August 20. Cooks Coffee annual revenue up more than 40% Annual revenue for Cooks Coffee Company through to the end of March was up 44% from about $4.6 million in the prior year to $6.7m. The dual-listed food and beverage retailer behind coffee brand Esquires in the UK, Ireland, and other international markets, reported earnings before interest, tax, depreciation, and amortisation of $1.4m, up from $336,000 year on year. Profit for FY25 tallied $859,000, up from a net loss of $6.3m the prior year when Cooks closed its Triple Two coffee brand. During the latest year, Cooks and its key regional developer partner in the UK formed a joint venture to acquire the Black Goo brand, which has stores in Hertfordshire and Oxfordshire. Moving into FY26, six new stores were opened in the UK in the first eight weeks of the fiscal year. At the end of May, Cooks had a total of 93 stores open, and aims to reach 300 stores by 2034. Friday May 30 Big Four banks progress open banking standard New Zealand's four-largest Australian-owned banks are progressing another industry standard to enable financial technology providers (fintechs) to offer new flexible payment options to customers. Version 2.3 of the Payment Initiation API standard for open banking, developed by Payments New Zealand's API Centre, is due to be implemented today. That enables payment consent so customers can make repeated payments automatically from their own account through third-party services. Earlier this month, Commerce and Consumer Affairs Minister Scott Simpson said Cabinet had agreed to designate banking as the first sector under the Customer and Product Data Act. 'This sets out the rules for how open banking will work in practice in New Zealand.' 'The Big Four banks – ANZ, ASB, BNZ, and Westpac – will need to make sure their open banking systems meet the new requirements by 1 December. Kiwibank will need to be ready by June 2026," Simpson said.
National Business Review
27-05-2025
- Business
- National Business Review
Vital shares up on new takeover offer
Shares in NZX-listed telco infrastructure company Vital have jumped 27% on news Christchurch-based Tait International will make an offer to acquire the company at 45 cents a share. Vital went into a trading halt yesterday at 27.5c a share after it received communication from a "credible third
Yahoo
22-05-2025
- Business
- Yahoo
Vital Energy (VTLE) Stock Has Declined by Over 15% This Week. Here is Why.
The share price of Vital Energy, Inc. (NYSE:VTLE) fell by 15.41% between May 13 and May 20, 2025, putting it among the . Let's shed some light on the development. Aerial view of an oil well and the rig in the Permian Basin, West Texas. Vital Energy, Inc. (NYSE:VTLE) is an independent energy company that engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas. The stock of Vital Energy, Inc. (NYSE:VTLE) surged earlier this month after the company posted the results for its Q1 2025, reporting an adjusted EPS of $2.37 against expectations of $2.12. However, the company's revenue of $512.18 million fell below estimates by $18.2 million. Moreover, Vital posted an overall net loss of $18.8 million during the quarter. Vital Energy, Inc. (NYSE:VTLE) also revealed that its hedge position for the remainder of FY 2025 has reduced its near-term price risks, with about 90% of its forecasted oil production swapped at around $71 per barrel WTI. This puts the energy company at a significant advantage during the current market volatility and plunging crude oil prices. So the recent downturn in share price could be a result of investors taking their profits, as well as the slight decline in crude oil price since last week. While we acknowledge the potential of VTLE to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than VTLE but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Vital Energy (VTLE) Stock Has Declined by Over 15% This Week. Here is Why.
The share price of Vital Energy, Inc. (NYSE:VTLE) fell by 15.41% between May 13 and May 20, 2025, putting it among the . Let's shed some light on the development. Aerial view of an oil well and the rig in the Permian Basin, West Texas. Vital Energy, Inc. (NYSE:VTLE) is an independent energy company that engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas. The stock of Vital Energy, Inc. (NYSE:VTLE) surged earlier this month after the company posted the results for its Q1 2025, reporting an adjusted EPS of $2.37 against expectations of $2.12. However, the company's revenue of $512.18 million fell below estimates by $18.2 million. Moreover, Vital posted an overall net loss of $18.8 million during the quarter. Vital Energy, Inc. (NYSE:VTLE) also revealed that its hedge position for the remainder of FY 2025 has reduced its near-term price risks, with about 90% of its forecasted oil production swapped at around $71 per barrel WTI. This puts the energy company at a significant advantage during the current market volatility and plunging crude oil prices. So the recent downturn in share price could be a result of investors taking their profits, as well as the slight decline in crude oil price since last week. While we acknowledge the potential of VTLE to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than VTLE but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None.
