First Choice Home Medical Equipment, 11 Princess Road, Suite L, Lawrenceville 08648; 609-844-0221; fax, 609-844-0251. Richard Kreider, CEO. www.firstchoicehome.com.
First Choice Home Medical, a Delaware-based company that sells and rents home medical equipment, has acquired Princeton Medical Equipment from Princeton Healthcare System for an undisclosed amount.
First Choice’s primary line of business is the sale and rental products such as oxygen, wheelchairs, and hospital beds. CEO Richard Kreider said the deal expands First Choice’s market into the Delaware Valley region and will make it more convenient for him personally to come to work.
Kreider lives in Doylestown and has commuted to New Castle, Delaware, for years. He will split his time between there and Lawrenceville.
As to why Princeton Healthcare sold this side of its business, Kreider said, “Hospitals get into things they shouldn’t be in,” such as the rental of home medical equipment. As more hospitals have realized the folly of trying to be too much for too many, they have shed side avenues, making it a good time for a company like First Choice.
Kreider was once the owner of Delcrest Medical in Pennsylvania, not to be confused with the home medical products company of the same name in Mercerville. He sold Delcrest in 1997, a few years before starting First Choice. The company employs seven in Lawrenceville and about 60 altogether, he said.
Stony Brook-Millstone Watershed Association, 31 Titus Mill Road, Pennington 08534; 609-737-3735; fax, 609-737-3075. Jim Waltman, executive director. www.thewatershed.org.
The Stony Brook-Millstone Watershed Association, an environmental group based in Pennington, has named Amy Soli, as its new science director.
Soli, who holds a Ph.D. in environmental science from the University of Maryland joins the association from Omni Environmental, based in Research Park, where she was a senior scientist. She also has worked in senior science positions at Tetra Tech EMI in Rockaway and Princeton Hydro in Ringoes, where she was a senior aquatic ecologist.
A recognized expert in water assessment techniques and requirements, state and municipal policy and regulations, and stream restoration work, Soli is also an adjunct professor of biology and geology at Middlesex Community College.
According to Stonybrook executive director Jim Waltman, Soli will help run the association’s StreamWatch water quality monitoring program, which tracks the health of the region’s streams stream restoration efforts, and the organization’s geographic information systems (GIS) center.
Soli lives in Hillsborough with her husband and two sons. She is the co-chair of the state Commerce and industry Association’s Environmental Business Council’s Water and Land Use Committee; chair of the state chapter of the American Water Resources Association’s Student Chapter; active with the state Society of Women Environmental Professionals; and a member of the the North American Benthological Society and the Society of Environmental Toxicology and Chemistry.
Alere (formerly Inverness Laboratories), 2 Research Way, Princeton 08540; 609-627-8000; fax, 609-627-8013. John Bridgen MD, president. www.alere.com.
Inverness Laboratories, a Massachusetts-based firm that conducts diagnostic tests, has merged with Alere Medical and changed its name. Alere is one of the largest specialized health management services and incorporates in-home monitoring devices for medium and high-risk patients.
Inverness is most known for its development of the glucose strip for diabetes patients before the company and the technology were bought by Johnson & Johnson in 2001. The company was later re-founded as a developer of consumer-focused diagnostic products.
Alere, founded in 1996, built its name as the developer of in-home monitoring solutions for heart patients. The deal with Inverness creates the second-largest disease management company in the world, behind OptumHealth. Financial terms were not disclosed.
Redpoint Bio Corporation (RPBC), 7 Graphics Drive, Ewing 08628; 609-637-9700; fax, 609-637-0126. F. Raymond Salemme, CEO. www.redpointbio.com.
Redpoint, which studies the molecular biology of taste signaling for the flavor industries, has signed a five-year deal with Dayton-based International Flavors & Fragrances that will allow IFF to commercialize Redpoint’s RP44 sweetness enhancer.
Under terms of the agreement, IFF will have exclusive rights for five years to develop, manufacture, and commercialize RP44 in nearly all food and beverage product categories.
IFF will assume financial regulatory responsibilities regarding Redpoint’s intellectual property rights.
Redpoint will collect an upfront payment of $500,000 and be eligible to receive up to $1 million in milestone payments based on supply and regulatory approval.
First Properties Corp./Modern Recycled Spaces, 1800 East State Street, Suite 220, Hamilton 08609-; 609-890-3100; fax, 609-890-3106. Daniel Popkin, president.
First Properties, a real estate management firm, has moved from 340 Scotch Road in Ewing to Hamilton.