DARTMOUTH STARTUP WINS STTR FUNDING
A team of researchers from Dartmouth has been awarded nearly $225,000 from the National Institute on Aging to develop and test “BandPass,” a remotesensing resistance band exercise system that would allow healthcare providers to monitor, evaluate and guide patients as they use the device in their homes.
The Bluetooth-enabled device is being designed specifically for the treatment of age-related loss of muscle mass and strength, known as sarcopenia, that affects almost 15% of adults over 60. Similar to other at-home resistance-based exercises, BandPass would promote muscular regeneration and growth, but it would be unique in that the data collected could motivate patients and be monitored by a physician in order to intervene, should the patient not perform the exercises regularly or correctly.
The one-year Phase I Small Business Technology Transfer grant will enable further development and refinement of a previous prototype, as well as develop a mobile application and cloud-based service for data transmission, processing and storage. Later this year, the team will also test the device on a cohort of 16 patients to obtain feedback.
After the current grant period ends in December, the team said it plans to apply for a Phase II STTR grant in order to investigate manufacturing, lab-tomarket strategies and further human studies.
L.L. BEAN READIES NEW SALEM STORE
Freeport, Maine-based outdoors retailer L.L.Bean will be opening its second full retail store in New Hampshire on May 14 in the massive Tuscan Village development under construction at the site of the former Rockingham Park race track in Salem.
The 15,000-square-foot store has been scheduled for a fall 2020 opening, but plans were stalled due to the pandemic.
The Salem store will join the L.L.Bean in West Lebanon as the company’s other full retail store. It also operates outlet stores in Nashua, Concord, North Conway and North Hampton.
SALEM INSURANCE BROKERAGE ACQUIRED BY CALIFORNIA FIRM
Relation Insurance Inc., a private equity-backed company based in Walnut Creek, Calif., has acquired the assets of Santo Insurance & Financial Services Inc., an agency based in Salem, NH. Terms of the deal were not disclosed.
Founded in 1993, Santo sells commercial and personal line coverages for businesses and individuals in New Hampshire, Vermont, Massachusetts and Maine.
Santo President Jamie Santo will lead Relation’s efforts to expand in the New England marketplace, Relation said in a statement. Santo has about 17 staff, according to its LinkedIn profile.
Relation is the 37th largest insurance brokerage in the U.S., according to the trade publication Business Insurance.
NEW HAMPSHIRE HVAC COMPANY ACQUIRED BY N.C. FIRM
Munch’s Supply, a portfolio company of Charlotte, N.C.-based Ridgemont Equity Partners, has acquired Air Purchases of New Hampshire Inc., a Manchester-based distributor of HVAC equipment and accessories for residential and commercial markets.
Established in 1987 by the Engel Family, API serves customers across the Northeast. The partnership with Munch’s Supply will allow API to accelerate the management team’s strategic growth initiatives through both organic and inorganic opportunities, said Bob Engel Jr., president of API. Citizens M&A Advisory served as the exclusive financial advisor to Air Purchases.
