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Grace Pacific to buy Kaua'i firm

Grace Pacific Corp. announced it has reached an agreement in principle to acquire Niu Construction Inc. on Kaua'i. The deal, terms of which were not disclosed, is expected to close in two months. Niu Construction was founded in 1985 as a general contracting and asphalt paving company. Grace Pacific said the company will continue to operate under the same name, and it intends to retain all of the company's employees.

Health ventures recognized

Surgical Devices of Hawai'i won first place in the recent business plan Island Innovations 2002, designed to encourage entrepreneurial healthcare ventures in the state. Surgical Devices presented a plan for a modified catheter designed to decrease the potential for strokes after heart surgery. The second-place winner was Kohala Natural Healing Arts, and the third-place winner was Discharge Information Systems.

Hawai'i Health Care Business Incubator was the primary sponsor of the competition.