On Tuesday, Shares of Xerox Corporation (NYSE:XRX), lost -3.83% to $9.78.
Xerox Corporation and inVentiv Health declared Xerox’s acquisition of inVentiv Patient Access Solutions (iPAS), an inVentiv Health company. The acquisition will expand Xerox’s pharmacy solutions portfolio with an offering to assist pharmaceutical companies drive product adoption and support patients in minimizing or eliminating financial and reimbursement hurdles.
iPAS serves as a patient access and reimbursement services hub for more than 17 major pharmaceutical companies. iPAS assists its clients expand sales by identifying uninsured and underinsured patients, and working with them to eliminate financial obstacles to obtaining medications prescribed by physicians. iPAS’ patient advocates investigate and verify benefits on behalf of a patient, and in cases with limited options, arrange for alternative means for the patient to receive the medication.
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
Shares of Williams Companies, Inc. (NYSE:WMB), declined -4.54% to $46.01, during its last trading session.
The Williams Companies declared it has placed into service a major expansion of its Transco natural gas pipeline to fuel new electric-power generation in Virginia and serve increasing local distribution demand in North Carolina. Transco is the nation’s largest-volume and fastest-growing interstate natural gas pipeline system with enough transportation capacity to serve the equivalent of more than 50 million households each day in North America.
The about $300 million Virginia Southside Expansion is providing 270,000 dekatherms per day (dth/d) of incremental transportation capacity, which is enough gas to serve the equivalent of 1.6 million households. The expansion comprises of about 100 miles of new, 24-inch diameter pipeline extending from the Transco mainline in Pittsylvania County, Va., and into Halifax, Charlotte, Mecklenburg, and terminating in Brunswick County, Va. Transco placed the majority of the pipe parallel to its own existing pipeline, alongside an existing utility corridor. In addition, Transco added more than 21,000 horsepower of compression at Station 165 in Pittsylvania County, Va.
The Williams Companies, Inc. operates as an energy infrastructure company primarily in the United States. The company operates in three segments: Williams Partners, Access Midstream, and Williams NGL & Petchem Services. It owns and operates natural gas pipeline system extending from Texas, Louisiana, Mississippi, and the offshore Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, and New Jersey to the New York City metropolitan area.
Finally, FS Investment Corporation (NYSE:FSIC), ended its last trade with -1.98% loss, and closed at $9.92.
Franklin Square Capital Partners, the largest manager of business development companies (BDCs), declared the upsizing of its senior secured investment in Blueprint Sub, Inc. (doing business as iSqFt), a Cincinnati, OH headquartered provider of software and bid information to the commercial construction industry. The upsized commitment finances the merger of iSqFt and CMD Group, a Norcross, GA headquartered provider of construction information.
The financing was offered by FS Investment Corporation (FSIC), FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by associates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Administration LLC (GDFM), an associate of GSO Capital Partners LP (GSO).
The combination of iSqFt and CMD Group brings together businesses with complementary strengths in different segments of the construction sector, creating an organization with an improved product offering and a strong technology platform focused on innovation. The combined organization will provide comprehensive construction data and software solutions for customers across North America.
iSqFt is a portfolio company of Genstar Capital, a San Francisco, CA based middle market private equity investment firm focused on the software, healthcare, financial services and industrial technology sectors. iSqFt is also a portfolio company of Warburg Pincus, a global private equity firm focused on growth investing, via the merger with CMD Group.
FSIC is a publicly traded BDC focused on providing customized credit solutions to private middle market U.S. companies. FSIC seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies to achieve the best risk-adjusted returns for its investors. In connection with its debt investments, FSIC may receive equity interests such as warrants or options.
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