💊Medical madness: Feds hit FW hard; Lockheed scores $8B award; Mach our words on this deal.

Lockheed Martin received an $8.4-billion contract tied to the Precision Strike Missile Increment One program. The award increases production capacity and supports procurement of early operational capability assets, follow-on production, development and obsolescence management. The modification raises the total contract to about $13.3B, with a 2032 finish date. 

The New York Times reports that federal authorities charged five individuals, including an executive with Fort Worth-based Legacy Medical Consultants, in a multi-billion dollar Medicare fraud scheme involving skin substitutes. The investigation alleges providers received kickbacks for using expensive products, with one executive — Brian Rowan, the Chief Revenue Officer and Vice President of Sales — allegedly pocketing $24 million while instructing doctors to conceal payments through shell companies.

The Justice Department charged north Texas doctor Jason Finkelstein, 53, in an $89-million healthcare fraud scheme, accusing him of billing insurers for medically unnecessary cardiovascular screening tests for college student-athletes, preying on their fears that they could die on playing fields or courts of sudden cardiac arrest. Finkelstein is prominently listed with office work in Fort Worth and Decatur. 

Fort Worth's Westland Hospitality is teaming with the Fort Worth Botanic Garden to open Flora House this fall, a restaurant to replace Rock Springs Cafe. Chef Juan Rodriguez — owner of Magdalena's and recipient of Most Creative Dish at this year's Fort Worth Zoo Beastro — will lead Flora's kitchen. See the restaurants under the Westland umbrella here.

Fort Worth-based FirstCash Holdings, the leading international operator of more than 3,300 retail pawn stores, reached agreement on a cash acquisition of Ramsdens Holdings, a leading operator of pawn stores in the United Kingdom. FirstCash will pay cash consideration of 600 pence ($7.92) for each share of Ramsdens stock. In addition, Ramsdens shareholders will receive an interim cash dividend of up to nine pence. The total equity value is approximately $273 million. 

Dallas-based Arctos, an investing business in KKR Solutions, has partnered with Arlington-based RVX Ventures, REV Entertainment's real estate development platform specializing in mixed-use entertainment districts, and Magellan Development Group to launch a new platform targeting the sports-anchored development sector. The group's first project is Neyland Entertainment District, a development in Knoxville spanning the Tennessee River waterfront adjacent to Neyland Stadium at the University of Tennessee.

The U.S. Supreme Court ruled Exxon Mobil can sue Cuban state-owned companies in U.S. courts over property that was seized decades ago by former leader Fidel Castro's ​government. The court said the foreign sovereign immunity legal defense is not applicable in cases like the one Exxon brought against CIMEX under the 1996 Helms-Burton Act.

Exxon Mobil said its corporate return to Texas from New Jersey is planned for July 1. Exxon Mobil Holdings Corp. will become the publicly traded parent company, replacing Exxon Mobil Corp. of New Jersey; shares will continue to trade on the NYSE under XOM.

Fort Worth-based Presidio Production Company joined the S&P Total Market Index and the S&P Completion Index. Presidio is a yield-focused, oil and gas operator that focuses on mature, cash-flowing wells in Texas, Oklahoma and Kansas. Co-CEOs are Will Ulrich and Chris Hammack. 

So, you wanna be a cowboy? Campana Realty is listing a 3.25-acre site located south of the Fort Worth Stockyards. The property sits between Joe T. Garcia’s and Hotel Drover, presenting a unique opportunity for developers. The property is outside the historical district of the Stockyards, which allows for greater freedom to pursue innovative design concepts. The property is listed at $125 per square foot. 

So, you wanna be a cowboy 2? Because of Fort Worth's approval of a Qualified Management Agreement with Gendy Street Management Corporation, Will Rogers Memorial Center is looking for a new GM to start Oct. 1. The position is responsible for the overall management, promotion and operation of the facility, as well as the development and coordination of strategies for its success. 

Jimmy Shoppa, the owner of Shoppa's Material Handling, is the only Tarrant finalist of the 13 regional businesses chosen in the Ernst & Young Entrepreneur Of The Year Awards. The national awards will be announced in November. Shoppas is a leader in handling technology and equipment, and warehouse logistics. 

All-Star Orthopaedics, AOA Orthopedic Specialists, North Texas Orthopedics & Spine Center, Orthopedic Associates and OrthoTexas Orthopedic & Sports Medicine announced plans to operate collectively as OrthoTexas beginning in November. The transition will create an integrated orthopedic and spine organization with more than 70 physicians and 22 locations across north Texas.

The House passed a major housing affordability bill aimed at boosting the supply of homes and cracking down on large investors buying up houses. The bill passed, 358-32, a day after it cleared the Senate, 85-5. 

My Dr Now said it would open six primary care and family medicine clinics across north Texas this year, including 137 E. Bonds Ranch Rd. in Fort Worth and 3300 E. Broad St. in Mansfield. 

Governor Greg Abbott announced an immediate, encompassing series of directives to strengthen workforce development and help more Texans access high-demand, high-paying jobs in the trades. A list of all directives is here. 

Announced in February, Alliance Westport 16, a 1,214,969-square-foot, Class A speculative industrial building in the Alliance Logistics District, is under construction. Hillwood Properties expects a July 2027 completion. 

Kimbell Royalty Partners closed its previously announced purchase of mineral and royalty interests held by Mesa Royalties in a cash-and-unit transaction valued at approximately $145.9 million. 

B-29 Investments and Hughes Commercial broke ground at Camp Howze Industrial Rail Park, a 489-acre industrial development along Interstate 35 and U.S. Highway 82 in Gainesville, Texas. The plan is for up to seven million square feet of industrial space across 14 buildings. BNSF Railway is constructing a rail connection that will provide direct service to the park.

Defense industry digest:

• President Trump is scheduled to meet with defense contractor executives today as the administration intensifies its focus on weapons production and domestic manufacturing capacity. For investors, higher military spending and geo-political tensions support long-term demand for weapons systems, but the administration is increasingly emphasizing manufacturing output, supply-chain resilience and contract execution over shareholder returns. 

• Bell Textron was awarded $43,215,352 for the procurement of 32 gearboxes in support of H-1 helicopters sold to the Czech Republic under the Foreign Military Sales program. All work will be performed in Fort Worth and is expected to be completed by June 2030. 

• Mach Industries, a $1.8-billion defense technology company, is in negotiations with Fort Worth for a manufacturing plant. Council members heard a report from the Economic Development Department that includes an agreement. Mach, which specializes in high-yield, low-cost autonomous military hardware, recently closed a $300-million Series C funding round, and said it would use the capital to aggressively scale up its decentralized "Forge" manufacturing network. 

In memorium:

• Clive Davis signed Janis Joplin to kick-start his career, made Bruce Springsteen and Whitney Houston household names, and guided Carlos Santana and Aretha Franklin to new-found fame. The Hall of Fame non-performer died at 94. 

• Alan Greenspan, one of the most celebrated Federal Reserve chairs, died at 100. He started in 1989 and held the position 19 years.

• Ernest “Ernie” Eugene Horn was a contractor, entrepreneur, creative force and visionary. Most of all, he was un-apologetically an eccentric Fort Worth soul. Ernie passed away at the age of 87. 

Today in history (1994): Disney’s The Lion King opened, beginning a run that turned Simba, Mufasa and “Hakuna Matata” into one of entertainment’s biggest businesses. The franchise has generated an estimated $15 billion+ across movies, stage productions, merchandise and home entertainment.

Significant stat: The average monthly Social Security check is just over $2,000. The average monthly rent for a senior housing unit is $5,479. 

Announcements:

• Dallas Business Journal: Selects Fort Worth’s Elaine Agather, a Global Vice Chair at JPMorgan Chase, for its Lifetime Achievement Award during the paper’s Women in Business Awards program.

• SouthState Bank: Names Ryan Wark Senior Vice President - Relationship Manager within Middle Market Banking.

• TCU: Names Heath Bain Director of Veteran Student Success.

• TCU men’s basketball: Adds NBA Orlando Magic guard Desmond Bane, a former Frog, as its Chief Basketball Officer. In his volunteer position, Bane will provide high-level insight to player development, leadership and life as an athlete.

• GM Financial: Promotes Emily Skaggs to Cybersecurity Manager.

• ELB Learning: Names David Aspinall President and CEO.

• Maurice’s: Hires Stephanie Morton-Dwight as District Team Leader.

• Delta State: Hires Keller High School head soft­ball coach Chad Cribbs. 

• Leeco Steel: Promotes Jeremy Rhoads to Regional Operations Manager – Texas. Transitions Bill Mess to Regional Operations Manager – North & Central U.S.

• Republic National Distributing Company: Julie Townsend, Director of Sales, is leaving the company after 26 years. 

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