Missouri Minute: Express Scripts acquires myMatrixx; Leawood Venture Capital opens new startup fund

Here are today’s top business headlines from across Missouri:

Express Scripts acquires Florida company

Express Scripts Holding Co. said it has acquired Tampa-based myMatrixx, a provider of pharmacy benefit solutions for the workers’ compensation market. St. Louis County-based Express Scripts, which provides millions of Americans with prescription drugs, declined to provide terms of the deal. MyMatrixx had $123.28 million in revenue for 2015, according to research by the Tampa Bay Business Journal, and more than 200 employees. Read more

Leawood Venture Capital opens new $25 million startup fund

Kansas City has a new venture fund focusing on early-stage tech firms. With $25 million in its coffers, Leawood Venture Capital has already made several investments in tech firms around the nation, including Kansas City-based Pepper IoT. Led by Brendan Fallis and Karl Gemperli, Leawood Venture Capital will provide equity investments and growth advisory services to tech startups around the U.S. Fallis said that the fund opened at the beginning of 2017 and will average about 12 deals per year, ranging from about $500,000 to $1.25 million. Fallis said about two-thirds of the deals that Leawood Venture Capital makes will be alongside other venture funds on the East and West coasts. Read more

KC labor groups voice strong support for Burns & McDonnell’s KCI proposal

Leaders of Kansas City’s union and construction trade groups gathered Wednesday with a show of force to endorse Burns & McDonnell’s proposal to build and finance a new $1 billion terminal at Kansas City International Airport. Iron workers, bricklayers and representatives of other construction trades said the thousands of jobs from the project would be a big boon for the area. Read more

Missouri auditor says a 2016 fee hike could trigger tax refunds

It won’t happen this year, but state Auditor Nicole Galloway says Missouri taxpayers could be due for special tax refund checks because a fee increase approved by the Legislature may exceed a revenue threshold set in 1996. In a review of legislation enacted in 2016, Galloway found that revenue from new taxes and fees will not trigger refunds this year. One of the bills approved last year, however, could trigger the checks in the future because it doesn’t go into effect until 2018. Read more

Report: 16 percent of nursing jobs vacant in Missouri hospitals

About 16 percent of all staff nursing positions in Missouri hospitals are vacant, according to a new report from the Missouri Hospital Association. The association’s 2017 workforce report found shortages in several areas, but none were more acute than nursing at 15.9 percent vacancy. Read more

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