Canadian businessman to build liquor distillery in Wheatfield

A Canadian company plans to build a new liquor distillery in a Wheatfield industrial park with the aim of reducing costs as he focuses on U.S. customers.

Leon Safir of Anat Inc. said he intends to produce as much as a truckload of whiskey and vodka per day, creating five new jobs, at a site his company has purchased in the industrial park off Lockport Road.

“For me, because I’m using alcohol from the U.S., I can save money on logistics,” said Safir, explaining why he wants an American plant.

He also said he’d like to make some of his output available in a retail store on the premises. That could include a new apple vodka he hopes to begin producing next year.

“We want to buy local apples,” Safir said.

Safir said he intends to keep his 10-year-old Toronto location open to serve the Canadian market, but U.S. customers are his main focus.

“Ninety percent of my customers are in the states,” said Safir. Those customers include a company that produces a private-label brand of liquor for the giant Costco retail chain.

“We can propose a reasonable price – not the lowest price, because our quality is pretty high,” Safir said.

He plans an 8,000-square-foot, $500,000 building in Vantage International Pointe, the industrial park controlled by the Niagara County Industrial Development Agency, off Lockport Road in Wheatfield. The plant would be designed to be expandable if the business grows.

Last week, the IDA board approved Safir’s purchase of 2.78 acres of land along Lockport Road for $41,000. Safir signed the contract Tuesday.

Susan C. Langdon, the IDA’s director of projects and finance, said the lot Safir is buying is the last one available in Vantage, a 159-acre industrial park the county has been striving to fill for almost 20 years after acquiring it in a foreclosure.

Safir said he is eager to get started with his project.

“My idea is to be building it in a month, as soon as I can get the building permit,” he said.

He said he also intends to apply to the NCIDA for tax incentives. Langdon and Andrea Klyczek, the IDA’s director of regional and international development, said they expect an application to land on the IDA’s agenda in the next month or two.

Klyczek said she was under the impression that a retail store would be a long-range addition to the business. Safir said he would like to start the retail and the distillery together, “if it’s possible.”

Langdon said as long as the store covers less than 30 percent of the building, it wouldn’t run afoul of the ban on IDA incentives to retailers.

Eric C. Tudor of Tudor Collins Commercial Real Estate, who brokered the deal, said the U.S. location will be called Sanborn Distilling Corp.

Safir said some of the brands his company produces are Glamorgan whiskey and 49th Parallel vodka, the name of which is a nod to the line of latitude that marks most of the U.S.-Canadian border.

A critic in Wine Enthusiast magazine last year gave 49th Parallel 92 points out of 100, calling it a “robust, corn-based vodka that hints at cacao, plus a slight raspberry-jam fruitiness.”

Sears Canada Closing Stores, Cutting 2,900 Jobs

Retail’s bloodbath has spread north of the border.

Sears Canada announced on Thursday it has entered bankruptcy protection in the Great White North and will close 59 stores and slash nearly 3,000 jobs while it tries to get back on its back after a years-long slump.

The retailer, which was spun off from Sears Holdings (shld) in 2012, won protection from creditors under Canada’s equivalent to a Chapter 11 knowns as “Companies’ Creditors Arrangement Act” and said it plans to exit bankruptcy “protection as soon as possible in 2017, better positioned” to executive a turnaround.

Sears Canada, which is independent of its U.S. namesake, will close 20 of its 94 full-service locations, 15 home stores, 10 outlet stores and 14 hometown locations and will cut 2,900 positions across its store fleet and at its Toronto headquarters.

The spin off in 2012 was one move made by Sears Holdings CEO and top investor Eddie Lampert to raise urgently needed cash will inflict pain on Sears Holdings: the U.S. namesake company still owns 12% of Sears Canada, and Lampert and his investment vehicles still own about 45% of its shares. Sears Holdings has also been closing stores and failing to hang on to shoppers: last week, the retailer, which also operates the Kmart discount chain, said it was cutting 400 jobs at its Chicago area headquarters in addition to a previously announced $1.25 billion cost restructuring of the company.

Its Canadian siblings said in its statement that “the continued liquidity pressures facing the company as well as legacy components of its business are preventing it from making further progress.” Last week, it issued a warning that it might not be able to generate enough cash to meet debt payments and other obligations in the next year. Sears Canada has posted losses in its last three fiscal years. (Sears Holdings, which is run entirely independently, stoked its own bankruptcy chatter when it acknowledged fears in the marketplace about its longer-term viability in its annual report released in March.)

As for Sears Canada, its much-hoped for comeback involves selling more discounted designer fashions and its own house brands while also improving its e-commerce, things its rivals have been doing for years.

Sears Canada to close stores, cut jobs in restructuring

(Adds details on filing on pension payments and lawyer comment)

By Solarina Ho

Sears Canada Inc said
on Thursday it plans to cut jobs and close about a quarter of
its stores as it restructures its operations after a steady
decline in sales due to competition from big-box retailers and
online merchants.

Like many department stores, the Toronto-based company has
struggled for years to attract fashion-conscious shoppers who
have embraced apparel stores more adept at keeping up with
fast-changing clothing trends.

The company, which in 2012 was spun off from U.S. department
store pioneer Sears Holdings Corp, said it planned to
close 59 of its 225 stores and cut 2,900 of its 17,000 workers
as part of a restructuring approved by an Ontario bankruptcy
court on Thursday.

Sears Canada also plans to file a motion to request
permission to suspend certain monthly payments to its pension
plan because it is running low on cash, according to court
documents.

It also intends to stop payments to a post-retirement
benefit plan providing retirees with life insurance and medical
and dental benefits, according to the filing.

Retail experts said they were not convinced the company
would succeed in its effort to remain in business, but noted
that it could get more for its assets by winding down its
operations in several phases, rather than pulling the plug
through a liquidation.

“It’s just been baby steps toward the ultimate end,” said
Sally Seston, managing director at Retail Category Consultants
Inc. “A forced liquidation becomes a fire sale.”

“One way or another, it’s not going to be an easy road for
them. As is the case with all department stores,” said Maureen
Atkinson, a senior partner at retail consulting firm J.C.
Williams Group.

Existing lenders have agreed to provide up to C$450 million
($340 million) in interim financing to help the company
controlled by billionaire hedge-fund investor Eddie Lampert
focus on selling discounted designer labels and low-priced
clothing.

The plan shifts away from areas long associated with the
iconic Sears brand, such as home appliances, tools, electronics
and auto parts.

Lou Brzezinski, an attorney who represents several of the
retailer’s landlords and suppliers, said his clients were
relieved that the company had not given up.

“It’s a measured and a reasonable approach to continuing
operations in Canada and we’re happy to see that,” Brzezinski
said, but noted the fallout would hit employees and retirees the
hardest.

“It’s the older people who need the money for their medical
benefits and their dental benefits. They’re the ones that’s
going to have to pay the price.”

The company has total liabilities of C$1.1 billion as of
April 29, according to financial disclosures. That includes
outstanding loans, accounts payable, pensions and other debt.

Its shares tumbled 14.7 percent to 40 cents in Thursday
Nasdaq trading after touching a record low of 16 cents earlier
in the day. The stock did not trade in Canada, where it was
halted by the Toronto Stock Exchange.

About 78 percent of Sears Canada shares are held by Lampert
and others close to the company, according to Thomson Reuters
data.

Sears Canada named Bank of Montreal as its
financial adviser and the law firm Osler, Hoskin & Harcourt LLP
as its legal adviser. It said FTI Consulting would serve
as restructuring consultant.

($1 = 1.3249 Canadian dollars)

(Writing by Jim Finkle; Reporting by Solarina Ho in Toronto.
Additional reporting by Fergal Smith in Toronto, Jessica
DiNapoli in New York, Richa Naidu in Chicago, and Siddharth
Cavale, Yashaswini Swamynathan, and Gayathree Ganesan in
Bengaluru; Editing by Denny Thomas and Dan Grebler)

Sears Canada obtains court permission to pursue restructuring

(Adds details on filing on pension payments and lawyer comment)

By Solarina Ho

Sears Canada Inc said
on Thursday it plans to cut jobs and close about a quarter of
its stores as it restructures its operations after a steady
decline in sales due to competition from big-box retailers and
online merchants.

Like many department stores, the Toronto-based company has
struggled for years to attract fashion-conscious shoppers who
have embraced apparel stores more adept at keeping up with
fast-changing clothing trends.

The company, which in 2012 was spun off from U.S. department
store pioneer Sears Holdings Corp, said it planned to
close 59 of its 225 stores and cut 2,900 of its 17,000 workers
as part of a restructuring approved by an Ontario bankruptcy
court on Thursday.

Sears Canada also plans to file a motion to request
permission to suspend certain monthly payments to its pension
plan because it is running low on cash, according to court
documents.

It also intends to stop payments to a post-retirement
benefit plan providing retirees with life insurance and medical
and dental benefits, according to the filing.

Retail experts said they were not convinced the company
would succeed in its effort to remain in business, but noted
that it could get more for its assets by winding down its
operations in several phases, rather than pulling the plug
through a liquidation.

“It’s just been baby steps toward the ultimate end,” said
Sally Seston, managing director at Retail Category Consultants
Inc. “A forced liquidation becomes a fire sale.”

“One way or another, it’s not going to be an easy road for
them. As is the case with all department stores,” said Maureen
Atkinson, a senior partner at retail consulting firm J.C.
Williams Group.

Existing lenders have agreed to provide up to C$450 million
($340 million) in interim financing to help the company
controlled by billionaire hedge-fund investor Eddie Lampert
focus on selling discounted designer labels and low-priced
clothing.

The plan shifts away from areas long associated with the
iconic Sears brand, such as home appliances, tools, electronics
and auto parts.

Lou Brzezinski, an attorney who represents several of the
retailer’s landlords and suppliers, said his clients were
relieved that the company had not given up.

“It’s a measured and a reasonable approach to continuing
operations in Canada and we’re happy to see that,” Brzezinski
said, but noted the fallout would hit employees and retirees the
hardest.

“It’s the older people who need the money for their medical
benefits and their dental benefits. They’re the ones that’s
going to have to pay the price.”

The company has total liabilities of C$1.1 billion as of
April 29, according to financial disclosures. That includes
outstanding loans, accounts payable, pensions and other debt.

Its shares tumbled 14.7 percent to 40 cents in Thursday
Nasdaq trading after touching a record low of 16 cents earlier
in the day. The stock did not trade in Canada, where it was
halted by the Toronto Stock Exchange.

About 78 percent of Sears Canada shares are held by Lampert
and others close to the company, according to Thomson Reuters
data.

Sears Canada named Bank of Montreal as its
financial adviser and the law firm Osler, Hoskin & Harcourt LLP
as its legal adviser. It said FTI Consulting would serve
as restructuring consultant.

($1 = 1.3249 Canadian dollars)

(Writing by Jim Finkle; Reporting by Solarina Ho in Toronto.
Additional reporting by Fergal Smith in Toronto, Jessica
DiNapoli in New York, Richa Naidu in Chicago, and Siddharth
Cavale, Yashaswini Swamynathan, and Gayathree Ganesan in
Bengaluru; Editing by Denny Thomas and Dan Grebler)

Global 2017 Genetic Testing Strategic Business Report – Research and Markets

Global 2017 Genetic Testing Strategic Business Report – Research and Markets

Research and Markets
Posted on: 19 Jun 17

PR Newswire

DUBLIN, June 19, 2017

DUBLIN, June 19, 2017 /PRNewswire/ —

Research and Markets has announced the addition of the “Genetic Testing – Global Strategic Business Report” report to their offering.

The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research.

This report analyzes the worldwide markets for Genetic Testing in US$ Million.

The US market is further analyzed by the following Segments:

  • Prenatal & Newborn Genetic Testing
  • Pharmacogenomic Testing
  • Predictive Diagnostics.

The report profiles 88 companies including many key and niche players such as:

  • 23andMe, Inc. (USA)
  • Abbott Laboratories (USA)
  • AutoGenomics, Inc. (USA)
  • Biocartis NV (Belgium)
  • BioRad Laboratories (USA)
  • Cepheid Inc. (USA)
  • ELITech Group S.P.A. (France)
  • Illumina, Inc. (USA)
  • Laboratory Corporation of America Holdings (USA)
  • Sequenom, Inc. (USA)
  • Luminex Corporation (USA)
  • Natera, Inc. (USA)
  • PerkinElmer, Inc. (USA)
  • QIAGEN N.V. (The Netherlands)
  • Quest Diagnostics, Inc. (USA)
  • Roche Diagnostics Corp. (Switzerland)
  • Roche Molecular Diagnostics, Inc. (USA)
  • Thermo Fisher Scientific (USA)
  • Transgenomic, Inc. (USA)

Key Topics Covered:

1. GLOBAL MARKET OVERVIEW
A Curtain Raiser
Top Ten Genetic Disorders Worldwide
Genetic Testing: Heralding a New Era
Genetic Testing Paves the Way for Personalized Medicine
Genetic Testing
A Critical Part of the Rapidly Developing In-Vitro Diagnostics (IVD) Market
Genetic Testing: The Rapidly Growing Segment of Molecular Diagnostics Market
An Overview of Current Technologies in Genetic Testing
Biomarker Discovery Leads to Advanced Genetic Testing
List of US-FDA Approved Biomarkers for Cancer
Ballooning Global Population Offers Increased Growth Opportunities
Aging Population Drives the Genetic Testing Market
Improving Healthcare Expenditure to Drive Demand

2. SEGMENTAL REVIEW
Prenatal Testing Market to Rise
List of Genetic Disorders by Event, Genetic Manifestation and Prevalence
Prenatal Testing
Changing the World of Pregnancy Care
Prenatal Testing
A Rudimentary Overview
List of Available Prenatal Screening and Diagnostic Tests by Indication
Conventional Invasive Pre-Natal Diagnostic Techniques
A Risky Affair
Other Negativities of Existing Invasive Techniques
Emergence of Non-Invasive Prenatal Diagnosis (NIPD)
US Leads in NIPD Market
Competition Intensifies in the NIPD Market
Commercially Available NIPD (Genetic) Tests for Aneuploidy in the US
NIPD Eliminates Risks and Uncertainty of Conventional Diagnostic Procedures
Opposition to NIPD Technique
A Significant Hurdle to Adoption
Benefits Outweigh Snags in NIPD Tests
Major Factors Influencing Penetration of NIPD Tests
Diversity in NIPD Usage on the Cards
Expanded Newborn Screening
Technological Advancements Boost Prenatal Genetic Screening Market
CMA Stakes Claim as the First-Line Test in Fetal Abnormalities; Issues Hinder Growth
Strain on Resources Prevent Wide Adoption of Expanded Carrier Sequencing
Fetal Diagnostic WES
A Promising Advancement in Prenatal Screening
Predictive Diagnostics
Breast Cancer Gene Testing Market to Expand Strongly
Myriad Genetics
The Unquestioned Leader in Breast Cancer Testing
Routine Clinical Testing Vs. Predictive Genetic Testing
Increasing Incidence and Prevalence of CDDs: A Major Growth Driver
Discovery of Novel Biomarkers Crucial to Predictive Diagnostics
Unresolved Issues Hamper Widespread Implementation of Genetic Diagnosis and Testing for Monogenetic Disease
Dearth of Genetic Counselors
A Major Hurdle for the Predictive Genetic Testing
Pharmacogenomics Development Augurs Growth of Genetic Testing Market

3. MARKET TRENDS
Direct-to-Consumer Genetic Testing
A Key Trend in the Genetic Testing Market
Direct-to-Consumer Genetic Testing is Here to Stay
Creating a Platform for New Companies
Business Models for DTC Genetic Testing Firms
Growing Prominence of DTC Genetic Testing: A Boon or a Curse?
Genetic Screening of Newborns to Rise
Pre-implantation Genetic Diagnosis (PGD)
A Major Driver for the Genetic Testing Market
Whole Genome Sequencing
Boon or Bane to Genetic Testing?
Utility of Genetic Testing for Warfarin Study
As Technologies Grow, Need for Better Interpretation of Tests Increases
Selling Collected Patient Genetic Information Becomes a New Business
Oncology
A Key Focus Area for Genetic Testing
Liquid Biopsy to Change the Face of Cancer Diagnosis and Treatment
Genetic Testing May Aid CNS Disease Therapeutics
Neurodegenerative Diseases
Major Focus Area for Genetic Testing
Alzheimer’s Disease
Validity of Emerging Genetic Tests for Alzheimer’s
Newly Developed Test Predicts Age of Onset of Alzheimer’s
Huntington’s Disease
Genetic Testing
An Indispensable Tool for Cystic Fibrosis
Histocompatibility Testing
Next-Generation Sequencing
A Giant Leap in Genome Sequencing
Pediatric Genetic Testing for Screening Adult Onset Disorders Fast Gaining Acceptance
Better Regulatory Safeguards Required for Global Genetic Testing Industry
Challenges Faced
Controversial Applications Marr Genetic Testing Market
Genetic Counseling: Gaining Momentum
Online Approach Gains Momentum
Recommendations of ACOG and ACGM Augments Demand for Cystic Fibrosis Testing
Ethical Issues & Need for Appropriate Regulating Policies
Issues Related to Genetic Tests for Obesity
Diagnosis and Treatment during Pregnancy
An Effective Way of Alleviating Syphilis Related Deaths and Stillbirths

4. MOLECULAR DIAGNOSTICS MARKET – AN INSIGHT
Global Molecular Diagnostics on a High Growth Curve
Automation Driving Global Market
Molecular Diagnostics: Marking the Convergence of Numerous Technologies
MDx Market for Infectious Diseases Zooming Ahead
Aging Population, Disease Incidence
Fundamental Drivers of Growth
Pharmaceutical Firms Carving Their Niche in Molecular Diagnostics Market
Towards Tailoring the Right Treatment for the Right Disease
Limited Reimbursements by Third Party Payers
A Stumbling Block
Disease-Specific Molecular Diagnostics to Deliver Improved Clinical Outcomes
Molecular Diagnostics and Intellectual Property
Business Opportunities in the Offing
Medical Training and Practice Challenges
Hurdles All the Way for Companies Eyeing Molecular Diagnostics
Product Marketing
Key to Commercial Success
Integration of Molecular Diagnostics into Therapeutics
Molecular Diagnostics
Moving from Centralization to Decentralization
Competitive Landscape of the Molecular Diagnostics Market
New Entrants Eye Unmet Needs

5. PRODUCT OVERVIEW
Preface to Genetic Testing
Genetic Testing and its Applications
Gene Candidate and Genome Screen
DNA Chip’ to Chip into Genetic Field
Techniques Used to Identify Changes in Genes
Types of Genetic Testing
Prenatal Diagnosis
Cancer Testing
Carrier Identification
Newborn Screening
Predictive Testing
Pre-Symptomatic Testing
Cytogenetic Tests
Steps in Genetic Testing Process
Limitations
Risks and Other Limitations of Genetic Testing
Medical Institutions to Reap the Benefit of Genetic Testing
Pharmacogenetics/Pharmacogenomics
Review of Select Genetic Tests
Cystic Fibrosis
Breast and Ovarian Cancer (BRCA)
Alzheimer’s disease
Colorectal Cancer
Haemochromatosis (HH)
Cowden Syndrome
Huntington’s disease (HD)
Costs of Select Tests
Genetic Testing Techniques
Signal Amplification Technologies
PCR
New Developments
Quantitative Real-Time PCR for Molecular Diagnostics
Signal Detection and Quantification
Quantitative Real-Time RT-PCR Analysis
Applications of Quantitative Real-Time PCR Analysis
Viral Detection and Viral-Load Monitoring
Sensitive Detection of Infectious Disease Agents
Predisposition Testing
Non-PCR Methods
Other Signal Amplification Technologies
DNA Probe Based Products
Direct Detection of Specific Nucleic Acid Sequences
Nucleic Acid Amplification and Detection
DNA Sequencing and Gene Detection
Arrays of Immobilized Probes (DNA Chips) in Gene Detection
RNA Diagnostics

6. PRODUCT LAUNCHES/INNOVATIONS
AutoGenomics Rolls Out INFINITI® H. pylori Assay
23andMe Obtains FDA Approval for Personal Genetic Test for Select Diseases
Invitae Adds News Tests to Proactive Genetic Testing Repertoire
Thermo Fisher Scientific Launches CarrierScan Assay
MedGenome Unveils Claria Carrier Screening Test in India
Phosphorus Rolls Out Advances Tests for Inherited Conditions
Cancer Genetics Launches Genomic Panel for HBOC
Illumina, Bio-Rad Launch Single-Cell Genomic Sequencing Solution
MyHeritage Introduces MyHeritage DNA Service
Thermo Fisher Scientific Unveils Clariom Pico Assays
IBM Watson Health, Quest Diagnostics Roll Out IBM Watson Genomics
Thermo Fisher Scientific Introduces PharmacoScan Solution
Good Start Genetics Launches EmbryVu PGS Test
Spark Therapeutics Introduces Testing for Inherited Retinal Diseases
AutoGenomics Launches INFINITI® Buccal Sample Collection Kit
FutuTest Launches FERTIFY Genetic Test
Quest Diagnostics Introduces New Cancer Test Services
Good Start Genetics Launches Next-Generation Embryo Screening Solution
Invitae Introduces Pediatric Tests for Rare Disease and Pediatric Genetics
Contextual Genomics Introduces Cancer Genome Test
Transgenomic Introduces CMT NGS Panel
Ambry Genetics Rolls Out Suite of Genetic Testing Panels for Epilepsy
Good Start Genetics Introduces EmbryVu PGS Test
23andMe Secures FDA Approval for New Trimmed Down DNA-based Health Analysis
Roche Rolls Out Oncology Assay
AutoGenomics Launches INFINITI® SMART
Transgenomic Rolls Out Transgenomic Leukodystrophy NGS Panel
Color Genomics Rolls Out New Test for Cancer-Associated Genes
PerkinElmer Launches Genetic Screening Processor® Instruments in China
Mayo Clinic Launches Eight NGS Panels for Cardiac Disorders
Sequenom Laboratories and Recombine Launch HerediT® UNIVERSAL
Multipicom NV Launches ADH MASTR v2 assay
23andMe Launches Drug Development Unit
Quest Diagnostics Launches Neurome Exome Sequencing Service
Roche Launches cobas 6800/8800 Systems
Agena Biosciences Launches MassARRAY 24-Well System
FDA Grants Marketing Approval to 23andMe’s DTC Bloom Syndrome Carrier Genetic Test
Transgenomic to Launch ICE COLD-PCR Technology
Rosetta Launches Sequencing-based Oncology Tests by Admera Health
MedGenome Labs Launches Panorama Prenatal Test
Ambry Genetics Launches CVD Genetic Testing Panels
Exceltox Launches Pharmacogenomic Testing
PerkinElmer Launches SCID Screening Test in North America
Quest Diagnostics Introduces BRCAvantage Plus
Genetic Technologies Launches BREVAGenplus Test
Sophia Genetics Receives CE-IVD Certification for Genetic Testing
Response Genetics Launches Immuno-Oncology Assay
DeNA Life Science Launches Mycode Genetic Testing Service
Pathway Genomics Launches BRCATrue Test
Courtagen Launches Genetic Sequencing Tests for Neurodevelopmental Disorders
Myriad Genetics Launches EndoPredict® Breast Cancer Test
Assurex Health Expands GeneSight® Pharmacogenomic Testing Platform
Illumina to Launch VeriSeq Embryo Screening Tool
GENEWIZ Launches PGxOne Pharmacogenomic Test
Ambry Genetics Launches ExomeNext and ExomeNext-Rapid Genetic Tests
Pathway Genomics Launches Genetic Test to Detect Risk of Colorectal Cancer
Mount Sinai Laboratory Develops Accurate Genetic Test for SMA

7. RECENT INDUSTRY ACTIVITY
Agilent Inks Deal to Take Over Multiplicom
DNA Diagnostics Center Acquires IDENTIGENE
Genetic Analysis and Bio-Rad Ink Deal for Transferring Commercialization Rights to GA-map
Thermo Fisher Files for PMA Approval of its Oncomine Universal Dx Test
LabCorp Takes Over Sequenom
WuXi AppTec and AutoGenomics Team Up to Launch Advanced Molecular Diagnostic Technology In China
Danaher to Take Over Cepheid
Quest Diagnostics to Offer Genetic Testing Services for Ancestry
Transgenomic and LabCorp Sign Commercial License Agreement for TBIO’s DNA Susceptibility Testing IP
Next Biosciences Merges with Genesis Genetics
PerkinElmer Expands Services in India
PerkinElmer Takes Over Vanadis Diagnostics
AutoGenomics and McKesson to Jointly Distribute INFINITI® Molecular Diagnostic Systems and Related Products
Transgenomic Divests GAP Business
Thermo Fisher Teams Up with Novartis and Pfizer for Developing NGS Oncology Test
NeoGenomics Acquires Clarient
MedGenome to Build Data Specific to India for Testing Kits
Roche to Take Over Kapa Biosystems
Natera Selects DNAnexus Cloud Genomics Platform for its Genetic Tests
ESPERITE Acquires InKaryo
Transgenomic Signs Agreement with Exiqon A/S
Quest Diagnostics and Myriad Genetics End BRCA Gene Patent Litigation
Roche to Acquire Majority Share of Foundation Medicine
Roche Acquires Ariosa Diagnostics
GSK Collaborates with GE on Oncology Genetic Testing
Cancer Genetics to Acquire Gentris Corporation
Natera Partners with Mount Sinai Genetic Testing Laboratory
Transgenomic to Sell SURVEYOR Nuclease Technology to Integrated DNA Technologies
Transgenomic Collaborates with Raptor Pharmaceuticals for Genetic Testing Services
AutoGenomic Signs Agreement with Genomas
Cancer Genetics Acquires BioServe Biotechnologies
PerkinElmer to Close Its Signature Genomics Testing Business
LifeLabs Medical Laboratory Services Buys out Centogene’s Canadian Business
CytoScan Dx Assay by Affymetrix Receives FDA Approval

8. FOCUS ON SELECT PLAYERS

9. GLOBAL MARKET PERSPECTIVE

Total Companies Profiled: 88 (including Divisions/Subsidiaries 97)

  • The United States (60)
  • Canada (5)
  • Japan (1)
  • Europe (23)
  • – France (2)
  • – Germany (3)
  • – The United Kingdom (2)
  • – Spain (1)
  • – Rest of Europe (15)
  • Asia-Pacific (Excluding Japan) (5)
  • Middle East (2)
  • Africa (1)

For more information about this report visit https://www.researchandmarkets.com/research/7h8x42/genetic_testing

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets

PR Newswire
www.prnewswire.com

Last updated on: 19/06/2017

OTT Pay brings Alipay Services to Canadian Merchants

TORONTO, ONTARIO–(Marketwired – Jun 19, 2017) –

Editors note: A photo is available on the Canadian Press picture wire via Marketwired

OTT Financial, a Canadian financial services company, announced today that its payment platform, OTT Pay, has officially signed a cooperation agreement with Alipay of Ant Financial Services Group to provide Alipay services for Canadian merchants and Chinese consumers.

With this partnership, OTT Pay will enable over 450 million active Alipay users to pay for Canadian products and services in Chinese RMB, just as they are accustomed to in China. To Canadian merchants, they operate as usual, both selling and receiving payments in Canadian Dollars.

“As mobile payment acceptance continues to grow in North America, over 450 merchants across Canada are accepting Alipay now”, said Souheil Badran, President of Alipay North America, “we want to continue offering Chinese consumers visiting Canada the ability to pay as they would in China. We are glad to partner with OTT Financial as they share the same belief of bringing convenience to clients by using mobile technologies”.

“We are excited to be partnering with Alipay to connect Canadian merchants to Chinese consumers.” said Cory Taylor, Head of OTT Pay, “Adding Alipay to OTT Pay’s existing offering will enable us to provide better services to merchants and consumers. Canadian merchants will benefit through increased sales and a differentiated retail experience to Chinese consumers in this “win-win” business model. China is Canada’s third-largest overseas market for tourists, and Chinese visitors contribute over $1 billion annually to Canada’s economy. We expect our services to add more value to all users.”

The Honourable Michael Chan, Ontario Minister of International Trade expressed his congratulations to both parties. “Our Government values its mutually beneficial relationship with our second largest trading partner, China,” said Michael Chan, “Today’s signing between Ontario-based OTT Financial and Alipay builds on that strong foundation by bringing Canadian retailers and Chinese visitors to Canada closer together through technology. This agreement also positions Ontario as a premier destination for Chinese tourists, and more specifically, one that boasts greater convenience and accessibility for them.”

In May this year, OTT Pay officially launched in Canada via its WeChat Pay offering. Hundreds of Canadian merchants ranging from shopping centres, travel agencies, hotels, health services, supermarkets, international logistics, educational services, restaurants, and convenience stores are in the process of enrollment to OTT Pay. These merchants will be the first to enjoy the benefits that Alipay offers.

About OTT Financial

OTT Financial and its related companies have multiple lines of business in the Canadian financial services industry. OTT Financial Canada Inc. is an investment dealer registered with the securities regulators in Canada and a member of IIROC and CIPF. OTT Capital Corporation is an exempt market dealer as well as a portfolio manager and investment fund manager. OTT Financial Inc. provides foreign exchange services and OTT Pay is the payment platform that serves Canadian merchants and Chinese consumers. Since 2006, OTT has been dedicated to delivering values for its clients and creating positive impact for the communities served by the OTT group of companies.

About Alipay

Operated by Ant Financial Services Group, Alipay is the world’s leading mobile and online payment platform. Launched in 2004, Alipay currently has over 450 million active users and over 400 financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 8 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service is covering more than 120,000 retail stores across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 200 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 19 currencies.

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‘It sounds pretty sketchy’: Sask. business owner offered $15K in Chinese cash-for-jobs scheme

In his 30 years as an immigration expert, Richard Kurland said he’s only ever heard rumours of people paying money for job offers to foreign nationals.

“It’s almost the stuff of immigration legendary myth that there are envelopes of cash being passed around for offers of employment in Canada,” said the Vancouver-based lawyer and immigration policy analyst.

But he said a case CBC recently uncovered in Saskatchewan is “the first time on record someone was caught” — as he put it  — “green-handed.”

In an undercover investigation, CBC’s iTeam recorded an immigration consultant offering to pay a Prince Albert, Sask., business owner cash in exchange for a letter offering a Chinese national a job.

And it may, in fact, be part of a larger scam.

‘It sounds pretty sketchy and something just can’t be quite legal with the whole process.’
– Barb Reid, owner, Prince Albert Fabricland

Last month, a man named Bill Sui dropped by Fabricland in Prince Albert and told owner Barb Reid his company was looking for Canadian jobs to offer to Chinese people wanting to immigrate.

According to Reid, Sui told her his immigration consulting company, Vstar International, would pay the salary and benefits of a would-be Chinese immigrant for three months of work if she simply provided a job offer.

As an extra incentive, he offered to pay Reid $15,000 in cash. He called it a “training fee.”

‘I’m not trying to hide anything’

The offer raised Reid’s suspicion, so she contacted CBC’s iTeam, saying, “It sounds pretty sketchy and something just can’t be quite legal with the whole process.”

CBC recorded two subsequent phone calls between Reid and Sui, who was unaware the calls were being recorded.

Barb Reid on phone with Bill Sui1:28

In one of those conversations, Sui explained the details of his $15,000 offer to Reid.

“Usually we give cash, because usually our owners have a really high personal income. So, I just give them cash to save their tax and also save tax for our company,” he said.

Sui told Reid everything about this program was on the up and up.

“I’m not trying to hide anything,” Sui told Reid. “Basically, this is a government program. It’s a benefit for you to get some cheap labour and skilled worker because you pay taxes.”

He said the Chinese workers would be brought in through the skilled worker category of the Saskatchewan Immigrant Nominee Program, which allows the province to recommend qualified foreign nationals for landed immigrant status.

Sui said because the skilled worker category requires a job with specialized skills, Reid would have to give the job an impressive-sounding title; the new immigrant couldn’t just be called a cashier.

Reid explained to CBC what Sui originally proposed to her: “It would have to be like a ‘buyer’ or something like that, so it looked good coming to Canada.”

In a recorded conversation, Sui assured Reid other businesses had already signed on, listing off restaurants and electronic stores as examples, though he didn’t provide names or locations.

Sui said Reid would be able to pick the worker she wanted from a stack of resumés. He assured her there would be no long-term commitment.

“We cover first three months wages just like probation period for you to try them out,” he said. “If he works well, he can stay. If you don’t like him or he doesn’t make enough profit for you, I just find another job for him.”

Even if Reid let the worker go, Sui said, “you keep the $15,000.”

Vstar denies connection

CBC’s iTeam followed up with Sui through the cellphone number he left with Reid, asking him about his offer of cash and wages in exchange for a job offer letter.

Initially, he denied having made that offer to Reid.

When CBC told Sui it had been recording his conversations with Reid, he said, “It’s illegal [to make an] audio recording without mentioning it, right? You know that.”

CBC pointed out that it was in fact legal and approved under CBC’s ethical guidelines. Sui ended the call.

CBC then approached the owner of Vstar, Nicole Sun, about Sui’s activities.

She said Sui had never worked for Vstar.

Bill Sui's business card

When Bill Sui visited Barb Reid’s fabric store last month he left his business card behind. (Barb Reid)

“We don’t have any payroll for this person,” she said. “Who is Bill Sui?”

CBC pointed out that Sui carried a Vstar business card. In addition, he had a Vstar email address. CBC also recorded Reid calling Vstar’s main number to ask for Sui. The receptionist said he wasn’t in, but offered to take a message.

A few minutes later, Sui called back.

“You’re looking for me or something?” he asked.

Barb Reid leaves message for Bill Sui with Vstar International’s receptionist0:47

Vstar charges Chinese immigrants $200K

According to immigration consultants CBC contacted, a skilled worker application typically costs between $3,000 and $8,000 — assuming the foreign national has secured their own job.

On its website, Vstar boasts that it has helped many Chinese people immigrate to Saskatchewan, Manitoba and British Columbia, but it doesn’t reveal what it charges for this service.

CBC’s iTeam wondered what Vstar charged, so Chinese-speaking CBC journalist Sharon Wu contacted the company and posed as a Canadian helping her Chinese relative and his family emigrate to this country.

CBC’s Sharon Wu makes undercover phonecall to Vstar International owner Nicole Sun4:40

The owner of Vstar, Nicole Sun, told Wu the company charged Chinese nationals $200,000 for the skilled worker application.

“This is the fee charge for the entire immigration application process,” Sun explained to Wu. “It’s the money you pay for your family to get residency status.”

Sun confirmed that Vstar has a pool of employers who are looking for Chinese immigrant workers.

“We have employers from all types of industries,” Sun said in the recorded conversation, which has been translated from Chinese. “We have big companies who have over 80 staff — most common ones have 10-ish employees.”

Sun said she would examine the resumé of Wu’s relative and find an appropriate placement.

She said the $200,000 would be paid in instalments and “we often guarantee within three months the applicant will definitely get a job offer that makes a good fit for him. If not, we will refund all we have charged.”

Vstar website

On the front page of its website, Vstar prominently promotes its ability to help Chinese people immigrate to Saskatchewan. (Vstar International’s website)

Wu asked if her relative would actually have to go to work at the job once they arrive in Canada. Sun said not necessarily.

“A lot of applicants don’t want to work here, they only want to pay some money as a simple way to get a residency status. This is also fine.”

Sun assured Wu “we have never had a single case that’s been rejected so far.”

Vstar owner changes her story

Two days after that conversation, CBC’s iTeam called Sun to ask her about what she had told CBC’s undercover journalist.

CBC asked Sun if Vstar helps Chinese nationals find jobs in Canada. Sun said absolutely not.

‘It’s fraud when a person gives money to get a job offer that opens Canada’s door to permanent residence.’
– Richard Kurland, lawyer and immigration expert

“No, we don’t help them find jobs. They find jobs by themselves,” she said. “We just, like, follow up with the immigration process once our clients, like, they find a job.”

When CBC pointed out that we had a recording of Sun offering to help Wu’s relative find a job, she seemed surprised and began to shift her story. She conceded that from time to time, her agency may help some people find an employer.

“But we don’t charge for that service. We have some connection with some employers we know they need people. But in our agreement, we never charge for that fee,” said Sun.

Sun also denied that Vstar charges $200,000 for a skilled worker application, though she refused to disclose what her company actually charges.

Sun abruptly ended the call, saying she had to go to a meeting, promising to answer additional questions later. CBC followed up with her on several occasions but she refused to continue the conversation.

‘There’s no excuse for doing nothing’

Richard Kurland said “every alarm bell goes off with this one.”

He said that if Reid had accepted Vstar’s offer, that would have qualified as a fake job.

“The deal is really quite simple. You don’t take money, let alone cash money, for a job offer made to a foreign national — a foreign national you’ve never met, interviewed, looked at their credentials. It’s not a real job offer,” said Kurland.

Richard Kurland

Lawyer and immigration policy analyst Richard Kurland says it’s fraud for an immigration consultant to offer cash to a business in exchange for a job offer letter. (Chris Corday/CBC)

“It’s fraud when a person gives money to get a job offer that opens Canada’s door to permanent residence,” said Kurland, who for almost 30 years has edited a prominent Canadian immigration publication.

“The violation of the immigration laws is crystal clear when you see cash for a job offer and advance payment of salary and deductions at source.”

Kurland said it’s not surprising that Sun would deny receiving payment from a would-be immigrant in exchange for finding a job, as that would be illegal.

However, he said the facts of this case require greater scrutiny.

“Here’s the common-sense observation,” said Kurland. “The $200,000 is coming from this applicant. So even if [a company] doesn’t directly pay for job-finding services, part of the $200,000 eventually is used for the purpose of a job-finding service.”

He said from his experience, the paper trails on immigration applications like this can be complex and involve multiple companies — a complex web created by lawyers and accountants. Kurland said it’s possible to create structures that appear on the surface to comply with the law, “but they get around the intent” of the law, which stipulates no money in exchange for a job offer.

He said the cash payment combined with the high fees should seize the attention of the authorities, in particular the Canada Border Services Agency.

‘There’s a lot on this silver platter. There’s no excuse for doing nothing.’
– Richard Kurland, lawyer and immigration expert

CBC presented the basic facts of this case to the CBSA. In an email, the organization said when there is evidence of a violation, the organization “thoroughly gathers, reviews, and assesses all the evidence before prosecuting.”

It pointed out “these investigations are complex” and often involve other government agencies. CBSA said it lays charges for a range of issues, including misrepresenting the facts and making false job-offer documents.

Kurland said that in his view, “there’s enough there to allow CBSA to seek evidence from every person connected to this transaction.”

“There’s a lot on this silver platter,” Kurland said. “There’s no excuse for doing nothing.”

Have a tip about this story? Contact the CBC iTeam’s Geoff Leo at geoff.leo@cbc.ca.

Why this Canadian fund manager is underweighting domestic equities right now

Some say the market is expensive right now. Jim Schetakis thinks it’s cheap, relatively speaking. The senior vice-president and portfolio manager at Barometer Capital Management is mostly invested in the United States at the moment, with some exposure to Canada and Europe. He’s also got his eye on Japan. The Globe and Mail spoke with Mr. Schetakis recently about what he’s buying and selling – and the headline-making stock he wished he picked up sooner.

What concerns are you hearing from your investors today?

Clients are always concerned that the markets are volatile. There’s also a perceived notion that the market is expensive. We have to talk them down and say, ‘This isn’t the market of 2000, when valuations were 30 times earnings.’

Right now they’re sub-20s. The S&P is trading at 16 times earnings. It’s in that sweet spot of revenue and earnings growth. There are risks, but the fundamentals of the economy are doing just fine.

When you look at job growth in the United States, it continues at a decent pace. Unemployment is at historic lows and consumer and business confidence are approaching highs. The economy is doing just fine.

Where are you invested?

About 70 to 75 per cent of our portfolio is in the U.S. The rest is in Canada and Europe. As things are improving in Japan, we’re looking at some investments there down the road.

Why are you less interested in Canada right now?

The Canadian index is dominated by resources and banks. When you look at the economy, we’re growing, but not fast enough. The banks are well capitalized and well run, but there is limited growth. The resource sector isn’t determined by what happens in Canada. It’s the rest of the world and the lack of demand and oversupply is a problem. The same for metals. So, when you look at that, it’s less attractive. When you look at the U.S. market, it’s dominated by technology. That’s where we are seeing tremendous growth and innovation taking place.

What stocks have you been buying lately?

A couple of our biggest positions are in Visa and Microsoft. We’ve owned them for a while and have been adding to them. Microsoft used to be this sleeping giant. They’ve transformed themselves under the new CEO. They’ve gone from selling licences every three or four years to a subscription model. That has a number of virtues. It makes their revenue less lumpy. They’re also growing quickly in the cloud business. It’s one of those companies people used to hate. Now, it’s a good story. We’re always looking for companies that are good and getting better. Visa is seeing more growth in dollar volume and penetration. We think they will continue to surprise us on the upside.

What have you sold recently?

We sold most of our energy holdings earlier this year, including Pioneer [Energy Services], Diamondback [Energy] and Halliburton in the U.S. and Suncor [Energy] and Canadian Natural Resources in Canada. We own some pipelines, namely Pembina and Veresen. We’ve also reduced our weighting of financials in Canada and prefer the U.S., where we see more growth. Plus, the regulatory structure there is changing. We should see some decent ability by the banks in the U.S. to return capital to shareholders. In Canada, we just own the Royal Bank right now. The Canadian banks are fine. It’s less about the risk in Canadian banks and more about the opportunities in the U.S.

What stock do you wish you bought?

One of the stocks we own now, but probably should’ve owned sooner, is Tesla. It took us a while to figure out how to understand the company. We’ve been in and out of the stock in the past five months or so, at prices ranging from $270 (U.S.) to $350. [Today, it’s trading around $375.]

This interview has been edited and condensed.



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