Onehealthbank.Com Merges & Leaves Town
Corrections or additions?
This article by Barbara Fox was prepared for the
August 29, 2001 edition of U.S. Newspaper. All rights reserved.
From Sarnoff: A Better Picture Tube?
Sarnoff Corporation thinks it has a better answer —
or at least another way — to make thin video screens: It shrinks
the traditional picture tubes (cathode ray tubes or CRTs). New this
month: it will license the technology to make shallow profile
displays,
replacing the big television cabinets and PC monitors, and freeing
up floor and desk space.
The CRT is still the benchmark for brightness, color, wide viewing
angle, low cost, and overall picture quality, notes Tom Lento,
Sarnoff’s
spokesperson. Still, the slimmer flat-panel monitors — such as
LCDs (liquid crystal displays) or plasma screens — are winning
lots of sales.
Manufacturers who license Sarnoff’s patented S-Cubed Technology for
cathode ray tubes can use existing assembly lines to produce 32-inch
displays that are only 11 inches deep. Traditional CRTs are 22 inches
deep. “Your television set can now fit on your VCR shelf,”
says Lento.
Scientists at Sarnoff originated the color CRT (Cathode Ray Tube),
called the “picture tube.” To that, it adds two electron
fields
to decrease the depth of large monitors by about 50 percent while
increasing picture quality by reducing the spot size of the beam.
Yet the increase in manufactured cost is only 10 to 15 percent —
a small percent compared to the price that the shallow-profile CRTs
could fetch in the marketplace. Sarnoff has a working prototype.
“We’ve invented a whole new wheel,” say James Birch, Sarnoff’s
director of business development. “We’ve taken technology that
is so fundamentally sound that after 100 years it’s still the industry
standard — and we’ve found a way to make it significantly
better.”
Top Of Page$ for Flat Panel Display
Universal Display Corporation Inc. (PANL), 375Phillips Boulevard, Ewing 08618. Steven Abramson, president.609-671-0980;fax, 609-671-0995. Home page: www.universaldisplay.comAnother way to manufacture flat panel displays is withcutting edge technology developed by Universal Display Corporation.This company just finished a $25 million private placement withinstitutionalinvestors — $10 million in convertible preferred stock and $15million in secured convertible debentures. Monies will be used forworking capital needs. It is working on Organic Light Emitting Displayapplications that will be so thin they can be laid across dashboardsand on cell phones.”This financing is a major step in securing our long-term abilityto fully realize the commercial opportunities for our proprietaryOLED technology,” says Sidney Rosenblatt, the CFO. “We nowhave the financial strength to continue the cutting edge researchand commercial development for which OLEDs hold such great promisefor our company and its investors,” he says.Top Of PageOnehealthbank.Com Merges & Leaves TownAfter Onehealthbank.com merged with RealMed Corp. lastspring, it moved to RealMed’s quarters in Indianapolis. Joseph T.Sebastianelli, formerly chairman and CEO of onehealthbank.com, isnow chairman of the board and CEO of RealMed. Robert J. Hicks,formerlychairman and CEO of RealMed, is president and COO of the new firm.Hal Knight, the CFO, made the move to Indianapolis along withSebastianelli.RealMed received $23 million in “new cash” from thistransaction.It is located at 5 Parkwood Crossing, 510 East 96th Street, Suite400, Indianapolis, Indiana 46240, 317-580-0658.Onehealthbank had grown to 20,000 square feet at Windsor CorporatePark. and had acquired $42 million in funding from a health insurancefirm (Empire Blue Cross and Blue Shield), an Internet firm (InternetHealthcare Group), the venture capital arm of a pharmaceutical firm(Johnson & Johnson Development Corporation), and a venture capitalfirm (Prism Venture Partners).As co-president of U.S. Healthcare, Sebastianelli had overseen amergerwith Aetna Inc., where he then held the office of president. He cameto Princeton from being CEO of Scripps Care, San Diego’s largesthealthcaresystem, and he has also been vice president of Blue Cross of GreaterPhiladelphia and a litigation associate with Morgan, Lewis & Bockius.At the time that onehealthbank was founded by Ed Hammersla and DeanBoyer, it aimed to be a one-stop health insurance and payment company.Its cards, which would look like a credit card, would combineinformationfrom doctors, insurance companies, and the patient’s bank. Nowonehealthbank.comis listed as a vendor of healthcare payment services, and RealMedCorp. is a health care claims adjudication vendor.The new firm is going to be working in a similar vein on what companymaterials term “more complete processing and resolution of healthcare claims, as well as processing payment and authorization ofsettlementof those claims at the point of service.”Top Of PageExpansionsAllegra Print & Imaging, 2850 Route 1, Lawrenceville08648. Ellis Galimidi, president. 609-771-4000; fax, 609-771-8771.Home page: www.allegranet.com/lawrencevilleThe four-color print production facility consolidatedtwo locations — at Mercer Mall and Nami Road — and expandedto 10,000 square feet on Business Route 1 (Brunswick Pike), whereit has equipment for on-demand printing. “We are focusing on theshort-run color market with on-demand printing solutions,” saysEllis Galimidi, president. His wife, Etty, and brother Maurice arewith him in the business.Also in the building is Borden-Perlman insurance and Jammer doors.Among the equipment here is a Heidelberg Quickmaster direct impressiondigital press, several Canon digital black and white and colorcopiers,some Xerox black and white copiers, plus a large format division forposters and banners and a prepress/graphics department.Top Of PageStock NewsPharmacopeia Inc. (PCOP), 3000 Eastpark Boulevard,CN 5350, Princeton 08543-5350. Joseph A. Mollica, CEO. 609-452-3600;fax, 609-452-3672. Home page: www.pcop.comBy the end of this year Pharmacopeia will merge with Eos Biotechnologyof San Francisco. In a tax-free, stock for stock transaction,Pharmacopeiawill contribute about $197 million in stock (based on the August 12closing stock price of $18.51) and will issue 10 million shares ofcommon stock to pay for the deal. The privately funded Eos willcontribute$44 million in cash.The combined businesses will offer higher revenue and growthopportunities,promises Joseph A. Mollica, chairman, president and chief executiveofficer of Pharmacopeia. He will retain those titles. Pharmacopeiahas patented chemical screening libraries for early drug testing anddevelopment.The current CEO of Eos, David W. Martin, will be president of thewholly owned drug discovery subsidiary and will focus oncommercializingEos’ genomics-based drug discovery technology. Eos has an integratedplatform of custom genomics-based tools used to discover and validatetargets and to discover antibody therapeutics that are highly specificin the treatment of cancer, angiogenesis, and inflammatory disease.By next year, revenues from this and other Pharmacopeia drug discoveryoperations are expected to be $45 million, set against $30 millionin operating losses. The year 2004 is the target for showing profits.Top Of PageContracts AwardedThe Chauncey Group International, 664 RosedaleRoad, Princeton 08540-0001. Judith D. Moore, president & CEO.609-720-6500;fax, 609-720-6550. Home page: www.chauncey.comThe Chauncey Group International (CGI) has licensed Chun Shin Limitedto represent its English language proficiency examination, TOEIC (Testof English for International Communication), in Taiwan. Chun Shinis headquartered in Taipei and distributes products and servicesthroughoutTaiwan.CGI is a subsidiary of Educational Testing Service (ETS), and is theleading provider of certification and licensing examinations forprofessionals,business, and government. Last year more than 2 million languagestudentsand professionals registered to take the test, which has been givenfor more than 20 years.ExpertPlan, 50 Millstone Road, Windsor CorporatePark 400, Suite 100, Cranbury 08512. Winthrop Cody, president.609-918-2500;fax, 609-918-1328. Home page: www.expertplan.comU. S. Bancorp, the eighth largest financial services holding companyin the nation, announced in July that ExpertPlan would provide aprivatelabel web-enabled 401(k) product offered through U.S. Bank. WinthropCody started this business at the Trenton Business and TechnologyCenter; he has 7,000 square feet at Windsor Corporate Park.ExpertPlan’s web-based “self service” model empowers planparticipants to manage their own accounts, which eliminatesthird-partyerrors, and reduces costs and the administrative burdens on thefinancialprofessional and the plan sponsor. The web program also offers onlineaccess to marketing materials and proposal requests.Top Of PageLeaving TownDopak Inc., 2010 Eastpark Boulevard, Cranbury 08512.Www.dopak.comAt the end of June this petrochemical-based business moved to 9572Kempewood, Houston TX 77080, 713-460-8311; fax, 713-460-8578. Noneof the 10 people here accepted transfers. “Our main business isin the Gulf Coast area, so the decision was made to move theoffice,”says a spokesperson. Martin Ball, vice president, is in charge ofthis part of a Dutch company named Dovianus. Dopak makes and sellsliquid process samplers to the petrochemical industry.J.A.R. Engineering Inc., 14 Commerce Street, Suite110, Flemington 08822. John H. Puha, president. 908-284-9040; fax,908-284-9095. Www.jarengineering.comThe 37-year-old engineering firm expanded from 1,600 feet to 2,400square feet in a move from 314 Wall Street in Research Park toFlemington.The firm designs HVAC, fire suppression, plumbing, and mechanicalsystems for industrial, commercial, educational, and institutionalclients. Two of the partners, John Puha and Bob Chittenden, live inFlemington. But Albert Pressler, who commutes from Monroe Township,claims that “you can come from where I live in and never hit amain highway.”Top Of PageManagement MovePrevent Child Abuse – New Jersey, 103 Church Street,Suite 210, New Brunswick 08901. Janet F. Rosenzweig, executivedirector.732-246-8060. Home page: www.preventchildabusenj.orgJanet Rosenzweig is the new executive director of the New Jerseychapterof Prevent Child Abuse. Formerly a professor of human servicesadministrationat Rider University, she is head of Mercer County’s Commission onChild Abuse and Missing Children.Founded in 1979, this state chapter collaborates with schools andorganizations in 134 communities to provide programs to preventphysical,sexual, and emotional child abuse and neglect.Top Of PageDeathGlenn G. Pearson , 51, on August 22. He was chief operatorengineer at Princeton Plasma Physics Laboratory.Previous StoryNext StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
