Technology

DRONE DELIVERY CANADA CORP. AND VOLATUS AEROSPACE CORP. COMPLETE PREVIOUSLY ANNOUNCED MERGER OF EQUALS

Published

2 years ago

August 30, 2024

TORONTO, Aug. 30, 2024 /CNW/ – Drone Delivery Canada Corp. (“Drone Delivery Canada” or the “Company”) (TSXV: FLT) (OTCQX: TAKOF) (Frankfurt: A3DP5Y) (Frankfurt: ABBA.F) and Volatus Aerospace Corp. (“Volatus”) (TSXV: VOL) (OTCQB: VLTTF) are pleased to announce the successful completion of their merger of equals (the “Merger”) announced on May 21, 2024, pursuant to which Drone Delivery Canada acquired all of the issued and outstanding common shares of Volatus (the “Volatus Shares”) by way of a plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”). The Arrangement results in Volatus becoming a wholly-owned subsidiary of the Company. The completion of the Merger marks a new era for the companies, combining the power of Volatus’ commercialization expertise with Drone Delivery Canada’s proven remote operations and logistics technology. The Merger obtained requisite approval by the shareholders of both companies, with Drone Delivery Canada holding its meeting on August 26th and Volatus on August 23rd. The Arrangement was approved by the Ontario Superior Court of Justice (Commercial List) on August 27th.

In connection with the Merger, the Company will change its name to “Volatus Aerospace Inc.”, leveraging the strength of the Volatus brand while maintaining Drone Delivery Canada’s brand for cargo operations. The shares of the Company will continue to trade under the stock ticker symbols TSXV: FLT, OTCQX: TAKOF, Frankfurt: A3DP5Y, and Frankfurt: ABBA.F. The shares of the Company are expected to start trading on TSX Venture Exchange (the “TSXV”) under the new name “Volatus Aerospace Inc.” on or about September 5, 2024.

Under the terms of the Arrangement, each former Volatus shareholder is now entitled to receive 1.785 (the “Exchange Ratio”) common voting shares of the Company for each Volatus Share held immediately prior to the effective time of the Arrangement (the “Consideration”). The Merger was structured as a 50/50 merger of equals with shareholders of both companies owning approximately 50% of the Company upon completion of the Arrangement.

In order to receive the Consideration, registered shareholders of Volatus Shares will be required to deposit their share certificate(s) representing Volatus Shares, together with the duly completed letter of transmittal, with Computershare Investor Services Inc., the depositary under the Arrangement. Shareholders whose Volatus Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee regarding the receipt of the Consideration.

Volatus Options, Warrants and Convertible Debentures

Holders of Volatus options (“Volatus Options”) have received replacement options under the Arrangement, exercisable for common voting shares in the capital of the Company at the same Exchange Ratio applicable to the Volatus Shares. All other terms and conditions of the replacement options, including the term of expiry, vesting, conditions to and manner of exercising, are the same as the Volatus Options for which they were exchanged.

Warrants to purchase Volatus Shares (“Volatus Warrants”), other than those that have been exercised prior to the effective time of the Arrangement, will continue to remain outstanding as warrants of Volatus which, upon exercise, will entitle the holder thereof to receive, the Consideration in lieu of a Volatus Share for each Volatus Warrant so exercised.

Convertible debentures of Volatus (the “Volatus Debentures”) will be assumed by Drone Delivery Canada and the Volatus Debentures shall be amended so as to substitute for the Volatus Shares subject to such Volatus Debentures such number of common voting shares of the Company equal to (A) the number of Volatus Shares into which such Volatus Debentures may be convertible immediately prior to the effective time of the Arrangement, multiplied by (B) 1.785, rounded down to two decimal places.

As required by the warrant indentures in respect of certain Volatus Warrants and the debenture indenture in respect of the Volatus Debentures, Drone Delivery Canada has entered into supplemental warrant indentures and a supplemental debenture indenture. Copies of each of the supplemental warrant indentures and supplemental debenture indenture will be available on Volatus’ and Drone Delivery Canada’s respective SEDAR+ profiles at www.sedarplus.ca.

Management and Board Composition

The management team of the Company is led by Glen Lynch as CEO and Steve Magirias as COO. Ian McDougall, the current chairman of Volatus, has assumed the role of chairman of the Company’s board. The other directors of the Company are Kevin Sherkin, Larry Taylor, Glen Lynch and Andrew Leslie.

“Our transformative merger of Drone Delivery Canada and Volatus marks the next major milestone for the Company,” said Glen Lynch, CEO of the Company. “Back when Volatus transitioned from a private company to a public company in 2021, we reimagined our mission to be an integrator and consolidator of a fragmented industry—to build a streamlined and agile ecosystem for our customers. Volatus is taking the next evolutionary step with Drone Delivery Canada, combining its significant technological expertise together with our commercial experience to provide tested and proven remote operational capabilities and logistics technology to our customers.”

Delisting of Volatus Shares

Volatus Shares are expected to be delisted from the TSXV as of the closing of the market on September 4, 2024.

Listed Volatus Warrants

Prior to the completion of the Arrangement, Volatus had outstanding a class of Volatus Warrants listed on the TSXV under the trading symbol “VOL.WT.A” (the “Listed Volatus Warrants”). The Listed Volatus Warrants will continue trading on the TSXV as Volatus Warrants, under their existing trading symbol, and will remain listed on the TSXV until the earliest to occur of their exercise, expiry or delisting.

Other Matters

An application has been filed with the applicable securities regulators of Volatus for exemptive relief from certain continuous disclosure and insider reporting requirements. In the event Volatus is granted such relief, holders of Listed Volatus Warrants will be directed to reference, and rely on, the public disclosure filings of Drone Delivery Canada.

In connection with the Merger and following approval by shareholders of Drone Delivery Canada, the Company has adopted a new equity incentive plan (the “Equity Incentive Plan”) governing the terms and issuance of restricted share units, performance share units and deferred share units of the Company.

Full details of the Merger, the Arrangement, the Equity Incentive Plan and certain other matters are set out in the joint management information circular of Drone Delivery Canada and Volatus and can be found under Drone Delivery Canada’s and Volatus’ respective profiles on SEDAR+ at www.sedarplus.ca.

Early Warning Disclosure

Immediately before completion of the Arrangement, Drone Delivery Canada (6-6221 Highway 7, Vaughan, Ontario L4H 0K8) did not own or control, directly or indirectly, any Volatus Shares or other securities of Volatus. Immediately following completion of the Arrangement, Drone Delivery Canada owned 125,683,761 Volatus Shares, representing 100% of the outstanding Volatus Shares.

An aggregate of 224,344,723 common voting shares of Drone Delivery Canada were issued to holders of Volatus Shares in connection with the Merger. These common voting shares have a market value of approximately $38,138,602 based on the closing price of the common voting shares of Drone Delivery Canada on the TSXV of $0.17 on August 29, 2024, being the last trading day prior to the closing of the Merger.

An early warning report will be filed by Drone Delivery Canada in accordance with applicable Canadian securities laws and will be available under Volatus’ SEDAR+ profile at www.sedarplus.ca or may be obtained directly from the Company by mailing the Company at its head office: 6-6221 Highway 7, Vaughan, Ontario L4H 0K8.

Immediately before completion of the Arrangement, Mr. Glen Lynch owned or controlled, directly or indirectly, 38,461,667 Volatus Shares, representing approximately 30.60% of the outstanding Volatus Shares on a non-diluted basis, and 1,500,000 Volatus Options, representing approximately 31.42% of the outstanding Volatus Shares on a partially diluted basis (assuming the full exercise of such Volatus Options). Immediately before completion of the Arrangement, Mr. Lynch did not own or control, directly or indirectly, any common voting shares of the Company or other securities of the Company.

In connection with the completion of the Arrangement, Mr. Lynch disposed of all of his Volatus Shares and Volatus Options in exchange for, on the basis of the Exchange Ratio, 68,654,075 common voting shares of the Company, representing approximately 15.31% of the outstanding common voting shares and variable voting shares of the Company, and 2,677,500 stock options of the Company, representing approximately 15.81% of the outstanding common voting shares and variable voting shares of the Company, on a partially diluted basis (assuming the full exercise of such stock options of the Company). These common voting shares of the Company have a market value of approximately $11,671,192 based on the closing price of the common voting shares of Drone Delivery Canada on the TSXV of $0.17 on August 29, 2024, being the last trading day prior to the closing of the Arrangement.

Early warning reports will be filed by Mr. Lynch in accordance with applicable Canadian securities laws and will be available under Volatus’ and the Company’s SEDAR+ profile at www.sedarplus.ca or may be obtained directly from the Company by mailing the Company at its head office: 6-6221 Highway 7, Vaughan, Ontario L4H 0K8.

Immediately before completion of the Arrangement, Mr. Ian McDougall, including through his 100% owned holding companies, Delta-Mike Inc. and Aligned Two Inc., owned or controlled, directly or indirectly, 39,017,267 Volatus Shares, representing approximately 31.04% of the outstanding Volatus Shares on a non-diluted basis, 1,208,461 Volatus Options and 555,600 Volatus Warrants, representing approximately 32.00% of the outstanding Volatus Shares on a partially diluted basis (assuming the full exercise of such Volatus Options and Volatus Warrants), and 206,188 Class A preferred shares of Volatus. Immediately before completion of the Arrangement, Mr. McDougall did not own or control, directly or indirectly, any common voting shares of the Company or other securities of the Company.

In connection with the completion of the Arrangement, Mr. McDougall disposed of all of the Volatus Shares he beneficially owned or controlled prior to completion of the Arrangement in exchange for, on the basis of the Exchange Ratio, 69,645,821 common voting shares of the Company, representing approximately 15.53% of the outstanding common voting shares and variable voting shares of the Company. Mr. McDougall further disposed of all of the Volatus Options he beneficially owned or controlled prior to completion of the Arrangement in exchange for, on the basis of the Exchange Ratio, 2,157,102 stock options of the Company and his Volatus Warrants became exercisable into 991,746 common voting shares of the Company, representing in the aggregate approximately 16.12% of the outstanding common voting shares and variable voting shares of the Company, on a partially diluted basis (assuming the full exercise of such stock options of the Company and Volatus Warrants). These common voting shares of the Company have a market value of approximately $11,839,789 based on the closing price of the common voting shares of Drone Delivery Canada on the TSXV of $0.17 on August 29, 2024, being the last trading day prior to the closing of the Arrangement. Following completion of the Arrangement, Mr. McDougall will continue to beneficially own or control 555,600 Volatus Warrants (exercisable into 991,746 common voting shares of the Company as noted above) and 206,188 Class A preferred shares of Volatus.

Early warning reports will be filed by Mr. McDougall in accordance with applicable Canadian securities laws and will be available under Volatus’ and the Company’s SEDAR+ profile at www.sedarplus.ca or may be obtained directly from the Company by mailing the Company at its head office: 6-6221 Highway 7, Vaughan, Ontario L4H 0K8.

Advisors

Ventum Financial Corp. (“Ventum Capital Markets”) acted as exclusive financial advisor to Volatus and Wildeboer Dellelce LLP acted as legal counsel to Volatus. Blink Capital Corp. acted as a strategic advisor on the Merger.

National Bank Financial Inc. acted as exclusive financial advisor to Drone Delivery Canada, Bennett Jones LLP acted as legal counsel to Drone Delivery Canada.

Issuance of Shares to Ventum Capital Markets

Pursuant to an engagement letter between Ventum Capital Markets (formerly, Echelon Wealth Partners Inc.) and Volatus dated February 1, 2024, the Company will issue $75,000 worth of common voting shares to Ventum Capital Markets as a success fee in connection with the completion of the Merger based on the 10-day volume weighted average price per common voting share as at closing of the Merger.

About Volatus Aerospace Inc.

Volatus Aerospace Inc., born from the merger of Volatus and Drone Delivery Canada, is a consolidator and integrator of aerial intelligence and logistics solutions. With deep technological and subject matter expertise and over 100 years’ worth of combined institutional knowledge in aviation, the Company’s mission has been to build a complete aerial intelligence and logistics ecosystem that provides agile and streamlined solutions for end users across various industries. The Company has achieved this through strategic partnerships and acquisitions that augment its operational, geographical, and technological capabilities, enabling best-in-class services, technologies, and training globally. We are committed to enhancing operational efficiency, safety, and sustainability through innovative, real-world aerial solutions.

Explore our services and connect with us at http://www.volatusaerospace.com to learn more about how we can support your operational goals.

Cautionary Note Regarding Forward-Looking Information

Certain information contained in this news release may constitute forward-looking information, forward-looking statements and future-oriented financial information within the meaning of applicable securities legislation (collectively “forward-looking statements”). Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. Forward-looking statements may be identified by words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “indicates”, “forecasts”, “intends”, “anticipates”, “believes”, “may”, “could”, “should”, “would”, “plans”, “proposed”, “potential”, “will”, “target”, “approximate”, “continue”, “might”, “possible”, “predicts”, “projects” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this news release may include but are not limited to: (i) statements concerning the expected timing by which the Volatus Shares will be delisted from the TSXV; (ii) the continued listing and trading of the Listed Volatus Warrants on the TSXV; (iii) the granting of exemptive relief by applicable securities regulators as it relates to Volatus’ continuous disclosure obligations and insider reporting requirements; (iv) the anticipated change of the Company’s name to “Volatus Aerospace Inc.” and the timing of the shares of the Company trading on the TSXV under the new name; (v) the anticipated benefits of the Merger; (vi) the anticipated timing of filing of necessary early warning reports; and (vii) the business plans, expectations, and goals of the combined company. These forward-looking statements are based on information available as of the date of this news release, and the current expectations, forecasts, assumptions, views and beliefs of management of each of Volatus and Drone Delivery Canada, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Volatus, Drone Delivery Canada or the combined company, as applicable, to differ materially from those expressed or implied by the forward-looking statements. Some factors that could cause actual results to differ include, among other things: (i) the ability to recognize the anticipated benefits of the Merger; (ii) unexpected costs related to the Merger; (iii) the commercialization of drone flights beyond visual line of sight and potential benefits to Volatus and Drone Delivery Canada; (iv) geopolitical risk and changes in applicable laws or regulations; (v) operational risks; (vi) meeting the continued listing requirements of the TSXV; (vii) other factors set forth in the joint management information circular of Volatus and Drone Delivery Canada under the section “Risk Factors”, available on Volatus’ and Drone Delivery Canada’s respective SEDAR+ profiles at www.sedarplus.ca and (ix) other factors set forth in Drone Deliver Canada’s annual information form under the section “Risk Factors”, available under Drone Delivery Canada’s SEDAR+ profile at www.sedarplus.ca . Although Volatus and Drone Delivery Canada have attempted to identify important factors and that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned that forward-looking statements are not based on historical facts but instead reflect expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. The forward-looking statements contained herein are made as of the date of this news release. Accordingly, forward-looking statements should not be relied upon as representing Volatus’ or Drone Delivery Canada’s views as of any subsequent date, and except as expressly required by applicable securities laws, Volatus and Drone Delivery Canada disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on these forward-looking statements. Any and all forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to purchase or a solicitation of an offer to sell securities.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Drone Delivery Canada Corp.

Technology

Penn Medicine, Children’s Hospital of Philadelphia team awarded Breakthrough Prize for developing gene therapy for inherited blindness

Published

46 minutes ago

April 18, 2026

LOS ANGELES, April 18, 2026 /PRNewswire/ — Their discovery started with a group of blind dogs living at a vet school. Now, the work has been awarded the prestigious Breakthrough Prize at the “Oscars of Science.”

Today, Jean Bennett, MD, PHD, and Albert Maguire, MD, both emeritus professors of Ophthalmology in the Perelman School of Medicine at the University of Pennsylvania, and Katherine High, MD, an emeritus professor of Pediatrics and the founding director of the Raymond G. Perelman Center for Cellular and Molecular Therapeutics at Children’s Hospital of Philadelphia (CHOP), received the Breakthrough Prize in Life Sciences for their work in developing the first FDA-approved gene therapy for an inherited condition, which dramatically improves sight in people with a form of blindness called Leber Congenital Amaurosis (LCA).

Their work blazed a trail for the more than 140 gene therapy trials for retinal conditions, including macular degeneration and diabetic retinopathy, diseases that collectively impact about 30 million people in the US. Eighty more trials are currently underway.

“Even 20 years ago, treating people with gene therapy was seen by some as an impossibility,” said Jonathan Epstein, MD, dean of the Perelman School of Medicine and executive vice president of the University of Pennsylvania for the Health System. “But this group of incredible physician-scientists persisted and created something that is providing sight to people who would have been completely blind as early as kindergarten. Their belief in the power of life-changing science has led to breathtaking results and richly deserved global recognition.”

The Breakthrough Prizes are called the “Oscars of Science” for their high-profile celebration of research and support from celebrities spanning numerous areas of pop culture. Created in 2012 by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Yuri and Julia Milner, and Anne Wojcicki, the prizes are given out in five categories including Life Sciences, Fundamental Physics, and Math, each with an accompanying $3 million award.

This year’s accolade now means that nine Penn-affiliated researchers have received the Breakthrough Prize, tied for the most with Harvard University. The prior Penn Medicine award winners are Carl June, PhD (2024), Drew Weissman, MD, PhD, and Katalin Karikó, PhD (2022), and Virginia M.Y. Lee, PhD (2019). Additionally, Penn faculty members Charles Kane, PhD, and Eugene Mele, PhD, won the prize for Physics in 2019. Mathew Madhavacheril, PhD, an assistant professor of Physics and Astronomy in Penn’s School of Arts & Sciences, also received recognition at this year’s Breakthrough Prize ceremony when he was honored with the New Horizons in Physics award, given to researchers early in their careers.

“Science is rarely a straight path, and those who make the most profound discoveries are resilient and persistent, overcoming obstacles along the way,” said J. Larry Jameson, MD, PhD, president of the University of Pennsylvania. “That is exactly what I see in this year’s awardees, and it has been true of all our remarkable faculty who have been recognized for scientific breakthroughs. Whether they are discovering what lies beneath Alzheimer’s Disease, curing cancer by engineering a patients’ own immune cells, or reversing blindness—they have persisted with imagination and rigor. Their steadfastness has pushed the boundaries of what medicine can achieve.”

“Developing cell and gene therapies has long been a top priority for our organization,” said Madeline Bell, CHOP’s CEO. “This breakthrough is the result of decades of investment and collaboration, and reflects our commitment to translating scientific discoveries into therapies that will transform patients’ lives. It has paved the way for many more cell and gene therapy innovations and has given hope to families around the world.”

“They can see!”

Bennett and Maguire met and married during medical school in the 1980s. It was then that they both became intrigued by the concept of genetic therapy, the practice of replacing a mutated or faulty gene with a functional copy, and started dreaming of treating inherited forms of blindness with the technique, which at that time remained the stuff of science fiction.

It was “like thinking you wanted to go to the moon in 1950,” Maguire said many years later.

Both Bennett and Maguire joined Penn’s Scheie Eye Institute in the 1990s and began working on their ideas with lab mice. They learned that the University of Pennsylvania School of Veterinary Medicine housed a group of blind dogs who had a condition similar to the human disease: Leber congenital amaurosis (LCA). People born with a mutation on the RPE65 gene have poor vision starting at birth and often progress rapidly to complete blindness, usually by their 20s, but sometimes in early childhood.

The pair developed a therapy that used a virus as a transport, carrying a piece of DNA into cells that would then correct the faulty, blindness-causing proteins formed by the bad gene. The idea: Once the proteins were set right, some sight might return. First, they tested the therapy by injecting it into a single eye in each of three dogs.

It wasn’t long until they knew whether it worked. Bennett recalls receiving an excited phone call from a technician at the lab, who exclaimed, “They can see!”

Sure enough, the dogs were twirling around, using their treated eyes to see. Before treatment, the dogs had bumped and tripped through an obstacle course set up to test their sight. After the full treatment, the course was an easy task for the dogs.

A knock on the door

In parallel with Bennett and Maguire’s dreams of gene therapy, High was also working to bring the field forward. Like Bennett and Maguire, she had achieved long-term reversal of a serious genetic disease in a dog model: In her case, for hemophilia, a life-threatening bleeding disorder. High had advanced these studies from success in dogs to initial clinical trials in humans, delivering the donated gene into skeletal muscle and the liver.

The work was promising, but the human immune response to the gene delivery vessel—which was derived from a virus in the same way Bennett and Maguire’s therapy was—prevented sustained benefits from the therapeutic gene. At the same time, companies and investors, discouraged by high profile negative events, began to turn away from gene therapy. Progress stalled.

But with support from CHOP, High founded the Raymond G. Perelman Center for Cellular and Molecular Therapeutics (CCMT) in 2004. She recruited experts in all aspects of clinical gene therapy, including specialized knowledge in the manufacturing and release of gene therapy vectors, which are the particles that deliver a healthy copy of a defective gene to patients.

After vector production was set up at CHOP, High went to Bennett’s office and knocked on the door with a proposition to start a clinical trial in humans. In 2007, Maguire, who was then a surgeon in Pediatric Ophthalmology at CHOP, administered an injection of the experimental therapy at CHOP into a clinical trial participant – a 26-year-old woman—for the first time. Her twin, with the same condition, received the treatment shortly after.

When the team assessed the treatment of the 37 eligible participants from the original clinical trials, 72 percent reported the maximum possible improvement in a test of low-light conditions, which simulates night vision. Amid these, many reported improved peripheral and central vision, too. One patient, who could only detect changes in light, was suddenly able to navigate walking through Philadelphia at night, unaided, and could make out the clock on City Hall. Another patient was able to see a star for the first time in her life just six days after the procedure.

In 2017, the therapy—by then manufactured by Spark Therapeutics, a spinout from CHOP, and called Luxturna—received approval by the U.S. Food and Drug Administration. It became the first FDA approval of a genetic therapy for an inherited disease. Today, hundreds of people around the world have successfully received the treatment.

A celebration of decades of work

Today’s celebration in Los Angeles marks a celebratory milestone in roughly 40 years of work led by Bennett, Maguire, and High that has inspired others in the now vibrant field of gene therapy. In fact, a treatment stemming from High’s original work with hemophilia received FDA approval in 2024.

“We always just did what we thought you were supposed to do if you were a doctor: Find treatments for diseases,” said Maguire. “Both my father and Jean’s worked in science, and it seemed normal to try to push the envelope.”

“I think the only surprise for us was that things worked out so well,” Bennett said. “For every success, there are usually so many failures. That’s just the nature of science. But our team hit on something that has helped so many people and helped progress the field, and we’re really grateful for our part in that.”

High described the journey between the start of her collaboration with Bennett and Maguire in 2005 and the FDA approval in 2017 as “an arduous one.”

“At times, it seemed that the number of obstacles we needed to overcome to reach regulatory approval was never-ending,” High said. “Working without the benefit of the guidelines and precedents we now have today, we sought to solve each day’s problems so that the program would have a tomorrow. It was a bold and uncertain investment of time, effort, and resources. Few were willing to take on the risks, but it ultimately paid off, and it helped build the foundation of modern gene therapy.”

About Penn Medicine:
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, excellence in patient care, and community service.

The organization consists of the University of Pennsylvania Health System and Penn’s Raymond and Ruth Perelman School of Medicine, founded in 1765 as the nation’s first medical school.

The Perelman School of Medicine is consistently among the nation’s top recipients of funding from the National Institutes of Health, with more than $588 million awarded in the 2024 fiscal year. Home to a proud history of “firsts,” Penn Medicine teams have pioneered discoveries that have shaped modern medicine, including CAR T cell therapy for cancer and the Nobel Prize-winning mRNA technology used in COVID-19 vaccines.

The University of Pennsylvania Health System cares for patients in facilities and their homes stretching from the Susquehanna River in Pennsylvania to the New Jersey shore. UPHS facilities include the Hospital of the University of Pennsylvania, Penn Presbyterian Medical Center, Chester County Hospital, Doylestown Health, Lancaster General Health, Princeton Health, and Pennsylvania Hospital—the nation’s first hospital, chartered in 1751. Additional facilities and enterprises include Penn Medicine at Home, GSPP Rehabilitation, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.

Penn Medicine is a $13.7 billion enterprise powered by more than 50,000 talented faculty and staff.

About Children’s Hospital of Philadelphia:
A non-profit, charitable organization, Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals, and pioneering major research initiatives, the hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. The institution has a well-established history of providing advanced pediatric care close to home through its CHOP Care Network, which includes more than 50 primary care practices, specialty care and surgical centers, urgent care centers, and community hospital alliances throughout Pennsylvania and New Jersey. CHOP also operates the Middleman Family Pavilion and its dedicated pediatric emergency department in King of Prussia, the Behavioral Health and Crisis Center (including a 24/7 Crisis Response Center) and the Center for Advanced Behavioral Healthcare, a mental health outpatient facility. Its unique family-centered care and public service programs have brought Children’s Hospital of Philadelphia recognition as a leading advocate for children and adolescents. For more information, visit www.chop.edu .

Media Contacts:

CHOP PR Contact:
Ashley Moore
Moorea1@chop.edu
267-426-6071

Penn Medicine PR Contact:
Frank Otto
Frank.Otto@pennmedicine.upenn.edu
267-693-2999

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SOURCE Children’s Hospital of Philadelphia

Technology

Haloid Solutions Expands Access to Radio Equipment by Offering Flexible Financing and Leasing Solutions Named HaloidFLEX

Published

4 hours ago

April 18, 2026

NEW YORK, April 18, 2026 /PRNewswire/ — As part of Haloid Solutions’ long-term commitment to helping businesses and municipalities acquire critical communications equipment despite budgetary constraints, Haloid now offers specialized financing and leasing programs through its HaloidFLEX program.

Designed to ensure that companies and governments have the equipment they need without costly capital expenditures outlays, HaloidFLEX offers financing for equipment purchased directly from manufacturers or local radio dealers. HaloidFLEX financing offers zero percent and low-interest options as well as predictable monthly payments for qualified buyers. HaloidFLEX clients can even opt to incorporate extended support services and protections into their financing to prepare for accidents, theft, or equipment losses. This gives companies peace of mind with one low monthly payment.

For organizations that don’t want or need to own equipment long-term, the HaloidFLEX leasing program offers similar benefits with potential tax advantages. Companies can lease brand new equipment and upgrade or return it at lease-end as needed. For companies seeking flexible options – or those that are interested in upgrading to the latest technology as it becomes available – leasing makes perfect sense.

One of the added benefits of each program is that HaloidFLEX allows clients to bundle services and protections that would normally be billed separately. Accidental damage, theft, and loss protections can be put in place, so that there’s never a lapse in communication if a radio fails. Extended warranties are also available upon request, so companies can customize their financing and protection to fit their budget and safeguard their equipment simultaneously.

According to a Haloid Solutions spokesperson, “Bundling expenses simply makes sense. It reduces the need for multiple policies and flexes with organizations to ensure critical communication equipment is available when needed while guaranteeing that the company’s investment is protected for the life of the equipment.”

HaloidFLEX financing and leasing programs are available to qualified businesses and municipalities nationwide. To learn more or request a customized quote, visit HaloidSolutions.com.

About Haloid Solutions

Haloid Solutions is the go-to resource for U.S. businesses and municipalities in search of financing and leasing for two-way radios, walkie talkies, communications equipment, accessories, and services. Focused on reliability, affordability, and performance, Haloid strives to equip professionals in all communication-based industries with the resources they need most.

For more information about Haloid Solutions, or details about the HaloidFLEX financing or leasing programs, please visit https://haloidsolutions.com/collections/lmr-radio-financing-and-leasing-and-subscription-low-cost-payment-options-for-2-way-radio-equipment or contact us on our website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/haloid-solutions-expands-access-to-radio-equipment-by-offering-flexible-financing-and-leasing-solutions-named-haloidflex-302746527.html

SOURCE HALOID SOLUTIONS

Technology

CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

Published

5 hours ago

April 18, 2026

Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

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SOURCE CAS Holdings, Inc.