Coffee Break: Local gene lab gets green light

Harmonyx Diagnostics has been cleared by the federal Centers for Medicare & Medicaid Services to get to work.

Harmonyx, an automated, human genetic testing laboratory, was founded in 2009.

Since then,pany officials have been readying their Cordova laboratory for the CMS inspection and an inspection by the Tennessee Department of Health.

With the inspectionsplete, thepany now has the green light to enter the market.

Harmonyx is a sisterpany to Transnetyx, a Memphis-based genetic diagnosticspany.

Bank’s 2Q solidly black

Tupelo, Miss.-based BancorpSouth Inc. on Monday reported a jump in second-quarter earnings as it reduced the amount of nonperforming loans on its balance sheet.

Net ie was $12.8 million for the quarter ended June 11, or 15 cents per diluted share,pared with a net loss of $12.6 million, or 15 cents, in the year-earlier period.

Chairman and CEO Aubrey Patterson attributed the improved results to the reduction in the bank’s provision for credit losses. Net charge-offs were reduced to $32.2 million in the second quarter,pared with $62.4 million in the year-earlier period.

Fred’s ‘Explore’ game

Memphis-based Fred’s Super Dollar is inviting customers to “Explore the Store” in a 15-week game for a chance to win $1.1 million in prizes.

Through Nov. 12, customers can win a Ford F-150, a Ford Mustang, $150,000 in cash and other prizes.

Each time shoppers shop at Fred’s, they’ll get a game ticket and will get extra tickets with the purchase of specially marked products.

Med gets $20K grant

The First Tennessee Foundation gave The Med Foundation $20,000 to renovate and upgrade the emergency room at the Regional Medical Center at Memphis.

The renovations will improve the department’s accessibility, security and patient flow.

Done deals

Legends at Wolfchase, a 300-unit apartmentplex in Cordova, sold this month for $27.8 million.

Blake Pera and Tommy Bronson III with CB Richard Ellis Memphis’ Multifamily Division represented the seller, BlackRock, a New York-based pension fund adviser, in the sale to a California-based buyer.

The largest concentration of retail in the Memphis MSA is located one mile east of the nine-year-old Legends at Wolfchase.

The 32-unit Richelieu Apartments at 3846 Millbranch in Whitehaven has sold for $485,000.

Woodyard Realty Corp. represented Bayview Loan Services in the sale to Encore Properties LLC. Woodyard also has recently sold the French Village, Timber Pines, Cedar Wood, Kenilworth and Hunter’s Ridge apartmentmunities.

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