Local Digest

Apple set to open Georgetown store

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Tuesday, June 15, 2010

RETAIL

Apple set to open Georgetown store

Apple plans to welcome customers into its first retail store in the District on Friday evening, formally opening its Georgetown location after years of wrangling over the storefront design.

The launch comes about three years after Apple bought the property at 1229 Wisconsin Ave. NW. The Old Georgetown Board approved the plans in March after addressing concerns that the store's design would not mesh with the area's historic image.

An Apple spokeswoman said the company plans to hand out T-shirts to the first 1,000 customers to visit the store. The location will be the company's 290th store, including five in Maryland and Northern Virginia.

-- Steven Overly

Capital Business

HEALTH CARE

Chindex to start new Chinese venture

Chindex International, a Bethesda firm that sells medical products and services in China, said Monday it will form a joint venture to produce medical devices in that country alongside Shanghai Fosun Pharmaceutical.

The deal includes a plan for Chindex to sell up to $30 million in stock to Fosun, which would then hold a 25 percent ownership stake in Chindex. Proceeds from the stock sale will be used to continue expanding Chindex's United Family Healthcare network.

Separately, Chindex said its fourth-quarter net income fell on lower product revenue. In the three months ended March 31, profit fell to $515,000 from $3.4 million a year earlier. Revenue fell 31 percent, to $41.3 million.

-- Associated Press


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