Royal Philips (PHG) announced they have signed a comprehensive 10-year innovation partnership agreement. The long-term strategic partnership agreement covers the demand-oriented replacement and procurement of state-of-the-art medical technology, including diagnostic imaging and intelligent informatics solutions, at Klinikum Stuttgart hospitals, together with joint development of new workflows and connected care solutions.
3D Systems (DDD) disclosed in a regulatory filing that on September 20, 2019, it entered into a Stipulation and Agreement of Settlement to resolve nine related previously disclosed stockholder derivative actions. On October 2, 2019, the United States District Court for the District of South Carolina (the "Court"), issued an order granting preliminary approval of the settlement, which consists of various corporate governance reforms and payment of plaintiffs' attorneys' fees and expenses in the amount of $2,150,000.
BP (BP) and China's Zhejiang Petroleum and Chemical Corporation have signed a memorandum of understanding (MOU) to explore the creation of a new equally-owned joint venture to build and operate a 1 million tonne per annum (tpa) acetic acid plant in eastern China.
Merck KGaA (MKKGY) announced an RMB 100 million (€ 13 million) seed fund targeted at startups in China. The company also officially opened its innovation hub in Shanghai and announced plans to officially open a second innovation hub in Guangzhou in November.
Centene Corporation (CNC) and WellCare Health Plans, Inc. (WCG) announced that the insurance departments of Arizona, Connecticut, Georgia, Ohio and Texas have now also approved Centene's pending acquisition of WellCare, bringing the total number of states to approve the transaction to 24. The companies continue to expect that the transaction will be completed by the first half of 2020.
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