Saturday, April 20, 2013

MedHab & North Texas

Texas Congressman Sam Johnson met with MedHab CEO Johnny Ross in early March. Rep. Johnson posted on his Facebook page, saying:

Thank you for all that you do in helping make Texas, particularly North Texas bigger and better!
MedHab is in the midst of its third private capital raise.  Might the State of Texas supply more nondebt, nonequity capital, i.e. subsidy, to MedHab?  The City of San Angelo will serve as MedHab's production site for its FDA approved medical device   Production for the novelty sporting device will occur elsewhere.   Will that be in Rep. San Johnon's district?  

We might find out when San Angelo City Council gets their MedHab update, requested by Councilman Johnny Silvas at the last meeting.  Ironically, Mayor Alvin New could've turned on his microphone and quickly done so, given he sits on MedHab's Board of Directors.  Citizens will dutifully wait for the update.  I hope it occurs before Mayor New steps down.   

The next City Council meeting is May 14, the day before MedHab's shot at presenting to Cowtown Angel Investors.  Johnny Ross has a vision to sell, but he also has commitments to fulfill.  An update is the least Ross can do, given MedHab's robust economic incentive package.

Update 4-21-13:  Mayor Alvin New stated he did not want another City Council meeting prior to the election.   I wonder how the MedHab update factored in this desire.


PEU Report/State of the Division said...

The mayor could not have talked about MedHab at the last meeting without violating the Texas Open Meetings Act since a discussion of that topic was not included on the agenda.

Anthony Wilson

Jim Turner said...

Actually Medhab could have been talked about twice. First, a status update could have been made during public comments with no action taken or further discussion. Next, it could have been brought up as a future agenda Item. It would have been against ethics rules for the Mayor to do it because of his financial ties, but it could have been talked about.