HEALTHCARE SHARING MINISTRY FILES FOR BANKRUPTCY

Sharity Ministries Inc., a healthcare nonprofit that offers what it says is an alternative to traditional health insurance, has filed for Chapter 11 bankruptcy protection and ceased operations, leaving its New Hampshire members without coverage.

In October 2019, Sharity — formerly known as Trinity Healthshare Inc. — was ordered by the New Hampshire Insurance Department, along with the Aliera Companies, which had administered and marketed the health coverage, to stop issuing new plans or renewing coverage in the state after receiving dozens of complaints. At the time, about 1,400 New Hampshire residents had signed up for the plans.

Former New Hampshire Insurance Commissioner Roger Sevigny joined the board of Aliera in 2019.

Similar orders were issued in California, Connecticut, Colorado, Maryland, Missouri and Washington.

Sharity filed for Chapter 11 bankruptcy on July 8, and later made the decision to cease operations. The company is seeking permission from the court to potentially refund contributions made for the month of July.

The department doesn’t know how many residents are affected by Sharity’s move.

PEERAGE REALTY OBTAINS SIGNIFICANT INTEREST IN FOUR SEASONS SOTHEBY’S

Four Seasons Sotheby’s International Realty, a real estate brokerage firm with locations in New Hampshire and Vermont, has sold substantial partner interest to Peerage Realty Partners Inc., a Toronto-based subsidiary of the Peerage Capital Group, which invests in independent North American real estate firms.

Four Seasons will continue to be led by CEO and partner Alan DiStasio and president and partner Laurie Mecier-Brochu, who are also equity partners in the future growth and development of the firm.

Four Seasons focuses on regional lakefront properties, mountain retreats, ski houses, farmland and land development, equine estates, private neighborhoods, city homes and other types of real estate. It has grown to more than 200 agents in 15 offices across New Hampshire and Vermont, and the firm’s sales are expected to exceed $1.4 billion in residential real estate this year, according to a press release from the companies.

“With Peerage as our strategic partner, we will build on the success we’ve already achieved,” said Four Seasons CEO Alan DiStasio. “All our Four Seasons agents gain the additional financial and human resources to further expand their reach and enhance the customer experience.”

DiStasio said Four Seasons expects to hire in the future, as a result of the partnership and anticipated growth from it.

The company’s New Hampshire offices are located in Bedford, Hanover, Meredith and New London.

PROTOTEK ACQUIRES MIDWEST COMPANY

Contoocook-based Prototek, a provider of rapid prototyping and low volume production services for precision machined and sheet metal fabricated parts, has acquired Wisconsin-based Midwest Protoyping, which specializes in 3D manufacturing.

Prototek companies said the acquisition creates a single destination for prototyping and low-volume manufacturing needs of customers, providing a full suite of sheet metal, CNC and additive manufacturing capabilities with a fleet of more than 140 machines.

In addition, the merger will allow both firms to serve a more geographically diverse customer base with locations near technology hubs in the Northeast, Silicon Valley and the Midwest.

The company will continue to operate in all current Prototek and Midwest Prototyping locations, with a total of 237 employees.

William Gress will continue in his role as CEO of Prototek. Steve Grundahl, president and founder of Midwest Prototyping, will serve as vice president of additive manufacturing.

The acquisition comes on the heels of a number of merger and acquisition deals in the fast-growing 3D printing and manufacturing space. Prototek itself was acquired recently by TruArc Partners, an investment firm, to support the company’s growth prospects and expansion into digital and on-demand manufacturing. The M&A trend is expected to continue as additive manufacturing continues to take hold, according to the company’s press release.