NEWS OF NOTE No. 6: University of Utah Health Wins a $30 Million R&D Grant; Utah-based IntelliPay is Acquired for up to $15 Million; Quantizr Raised $5 Million; Murphy Door Acquired MHD; Plus Broad Higher Education Tightening and Major C-Suite Shifts

EXECUTIVE SUMMARY

✅ University of Utah Health has secured a $30 million federal research grant to lead a multi-center study about Alcohol Withdrawal Syndrome;

✅ Salt Lake City-based IntelliPay has been bought for up to $15 million by Priority Technology;

✅ Park City, Utah-based Quantizr has raised $5 million Seed Round funding;

✅ Ogden, Utah-based Murphy Door drops $3.25 million to buy an Idaho firm;

✅ The University of Utah will shutter its Sandy Campus at the end of 2026 and is cutting 401(k) contributions for new hires beginning in Fiscal 2027;

✅ Farmington, Utah-based Health Endeavors landed an undisclosed amount of debt funding from Park City, Utah-based Decathlon Capital Partners; and (last but not least),

✅ Executive leadership changes in Utah have occurred at CBIZ, Merit Medical Systems, Security National Financial Corporation, Waystar, and Xenter.

28 August 2026 — LEHI, Utah — Welcome to another edition of NEWS OF NOTE.

In this latest writeup, we track everything from federal fundings to acquisitions, and from University of Utah cost-cutting measures to senior executive changes.

Shown below are developments at six different entities, plus six executive transitions at five firms.

1. University of Utah Health Awarded $30 Million Federal Research Grant

University of Utah Health has secured a $30 million federal research grant to spearhead a landmark national study aimed at improving treatment protocols for hospitalized patients.

Led by Dr. Valerie Vaughn, M.D., associate professor of internal medicine at the Spencer Fox Eccles School of Medicine at the University of Utah, the multi-year research program is focused on optimizing clinical strategies for managing Alcohol Withdrawal Syndrome (AWS) in acute-care hospital settings.

According to the news release, AWS is a highly complex and resource-intensive medical condition that represents a significant clinical challenge for hospital medicine nationwide.

2. Priority Technology Acquires Salt Lake City-Based IntelliPay for up to $15 Million

Alpharetta, Georgia-based payment platform Priority Technology (NASDAQ:PRTH) has acquired Salt Lake City-based IntelliPay in an all-cash transaction for an aggregate value of up to $15 million.

As reported by Payments Dive, the acquisition adds a specialized provider of cloud-based payment software to Priority Technology's expanding integrated finance platform. IntelliPay specializes in automating high-friction payment workflows within municipal, utility, education, and healthcare verticals.

3. Park City-Based Quantizr Secures $5 Million Seed Round for AI Tour-Finance Software

Quantizr, a Park City, Utah-based fintech startup that builds financial management software for the live entertainment industry, has closed a $5 million Seed Round of funding.

According to the exclusive national coverage published by Pollstar, the equity round was led by Atlanta, Georgia-based venture capital firm TTV Capital, an early investor in Bill.com and Greenlight.

Quantizr provides an AI-enabled financial operations platform designed for artist managers and business managers to automatically extract and standardize complex deal terms from

🔺 Fragmented tour contracts,

🔺 Venue offers,

🔺 Budgets,

🔺 Expense reports, and

🔺 Settlement statements,

eliminating hundreds of manual entry hours typically spent on spreadsheet reconciliation.

4. Utah-based Murphy Door has Acquired Idaho-based Merrill Hardwoods Division for $3.25 Million

Ogden, Utah-based Murphy Door announced recently that it has acquired 30-year-old Rigby, Idaho-based Merrill Hardwoods Division for $3.25 million "via traditional financing."

According to the release, Murphy Door's acquisition included

✅  MHD's 22,500 sq. ft. facility in Rigby,

✅  All manufacturing equipment, and

✅  The full MHD team of approximately 10 employees.

The release further claimed that the purchase

"... represent(ed) a significant discount to the estimated $6.5-7 million in combined real estate and equipment value (and is) ... expected to add approximately $5 million to Murphy Door's top line over the next 12 months."

With three locations (prior to the acquisition), Murphy Door is primarily known as "America’s #1 hidden door manufacturer."

However, the purchase thrusts Murphy Door into new markets,

"... including floating shelves, stair risers, veneered products, custom hardwood supply, and furniture lines such as nightstands, dressers, armoires, vanities, and kitchen cabinets, all featuring the multifunctional and hidden-door elements Murphy Door is known for."

5. The UofU is Closing its Sandy Satellite Campus and is Cutting Retirement Benefits for New Employees

The state's flagship public institution is entering a phase of broad structural tightening as the University of Utah responds to state-mandated budget changes with significant operational and compensation contractions.

First, the UofU is closing its Sandy satellite campus at the end of December 2026, a move that will affect 600 students currently enrolled in academic courses at the facility.

According to the UofU, the shutdown is a direct result of mandated budget reductions, with the university choosing to consolidate its resources and reallocate funding over a three-year period toward on-campus programs that directly target high-demand student and workforce fields.

Second, the tightening will also hit the university's payroll, starting in fiscal 2027.

Specifically, the UofU is structurally changing its retirement benefits formula for all future employees.

As Jeff Herring, the university's Chief Human Resource Officer, stated in the announcement:

“This new approach will sync retirement benefits across the university and clinical enterprise, while also freeing up funds to realign total employee compensation with current market and workforce demands.”

The UofU will reduce its standard retirement contribution rate for newly hired, full-time employees to a 6 percent annual contribution starting 1 July 2027 to lower ongoing operating expenditures.

6. De Minimis Coverage for Health Endeavors' Debt Funding

Utah Money Watch's research also uncovered a financial transaction that was worthy of inclusion here, but it involved a Utah-based entity that did not disclose terms of the deals. Specifically:

Farmington, Utah-based Health Endeavors, a value-based healthcare data analytics platform, secured a non-dilutive growth-debt investment from Park City, Utah-based Decathlon Capital Partners to expand national client acquisition. However, financial terms were not disclosed

Executive Roundup: Six Executive/Board Changes at Five Different Firms

Recent senior leadership restructurings and high-profile board appointments have reshaped the corporate profiles of five prominent Utah-linked organizations:

A. CBIZ

Accounting and financial advisory giant CBIZ, Inc. (NYSE:CBZ) has promoted Todd Gordon, CPA, to Office Managing Director of its Utah and Boise, Idaho operations.

Gordon has served on the Utah leadership team for eight years, providing audit, attest, and financial advisory services to middle-market businesses across the state.

B. Merit Medical Systems

South Jordan, Utah-based medical device manufacturer Merit Medical Systems has hired Sheri Lewis as Executive Vice President of Global Operations.

Lewis began her new position with Merit (NASDAQ:MMSI) effective yesterday, 31 August 2026.

With this move, Merit has apparently eliminated the role of Chief Operating Officer, with its former COO (Neil Peterson) moving him (as the news release stated):

"... into the role of Senior Advisor, where he will help ensure a smooth transition through March 5, 2027. At that time, Mr. Peterson will complete his service to Merit after more than 32 years with the company."

C. Security National Financial Corporation

Salt Lake City-based Security National Financial Corporation (NASDAQ:SNFCA) has appointed Alissa Neufeld as Chief Legal Officer.

According to Security National's announcement, Neufeld will also fill the roles of corporate secretary and general counsel at the company. She joins Security National from Lehi, Utah-based LifeVantage (NASDAQ:LFVN), where she served as General Counsel and Corporate Secretary.

D. Waystar

Lehi-based healthcare-payments software developer Waystar (NASDAQ:WAY) announced two major executive changes, namely

🔶 Amit Khanna has been hired as Waystar's Chief Product and Technology Officer; and

🔶 Todd Woods has been promoted to Chief Commercial Officer (from Chief Growth Officer — Ambulatory).

E. Xenter

Draper, Utah-based medical technology developer Xenter has appointed veteran financial executive Linda Vega to its Board of Directors.

Vega is CEO of First Capital Solutions. According to Xenter's news release, she previously served as Sr. Vice President of Wachovia Bank.

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