$ for Flat Panel Display

Onehealthbank.Com Merges & Leaves Town


Stock News

Contracts Awarded

Leaving Town

Management Move


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


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,


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


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


Top Of Page
$ for Flat Panel Display

Universal Display Corporation Inc. (PANL), 375

Phillips Boulevard, Ewing 08618. Steven Abramson, president.


fax, 609-671-0995. Home page: www.universaldisplay.com

Another way to manufacture flat panel displays is with

cutting edge technology developed by Universal Display Corporation.

This company just finished a $25 million private placement with


investors — $10 million in convertible preferred stock and $15

million in secured convertible debentures. Monies will be used for

working capital needs. It is working on Organic Light Emitting Display

applications that will be so thin they can be laid across dashboards

and on cell phones.

"This financing is a major step in securing our long-term ability

to fully realize the commercial opportunities for our proprietary

OLED technology," says Sidney Rosenblatt, the CFO. "We now

have the financial strength to continue the cutting edge research

and commercial development for which OLEDs hold such great promise

for our company and its investors," he says.

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Onehealthbank.Com Merges & Leaves Town

After Onehealthbank.com merged with RealMed Corp. last

spring, it moved to RealMed’s quarters in Indianapolis. Joseph T.

Sebastianelli, formerly chairman and CEO of onehealthbank.com, is

now chairman of the board and CEO of RealMed. Robert J. Hicks,


chairman and CEO of RealMed, is president and COO of the new firm.

Hal Knight, the CFO, made the move to Indianapolis along with


RealMed received $23 million in "new cash" from this


It is located at 5 Parkwood Crossing, 510 East 96th Street, Suite

400, Indianapolis, Indiana 46240, 317-580-0658.

Onehealthbank had grown to 20,000 square feet at Windsor Corporate

Park. and had acquired $42 million in funding from a health insurance

firm (Empire Blue Cross and Blue Shield), an Internet firm (Internet

Healthcare Group), the venture capital arm of a pharmaceutical firm

(Johnson & Johnson Development Corporation), and a venture capital

firm (Prism Venture Partners).

As co-president of U.S. Healthcare, Sebastianelli had overseen a


with Aetna Inc., where he then held the office of president. He came

to Princeton from being CEO of Scripps Care, San Diego’s largest


system, and he has also been vice president of Blue Cross of Greater

Philadelphia and a litigation associate with Morgan, Lewis & Bockius.

At the time that onehealthbank was founded by Ed Hammersla and Dean

Boyer, it aimed to be a one-stop health insurance and payment company.

Its cards, which would look like a credit card, would combine


from doctors, insurance companies, and the patient’s bank. Now


is listed as a vendor of healthcare payment services, and RealMed

Corp. is a health care claims adjudication vendor.

The new firm is going to be working in a similar vein on what company

materials term "more complete processing and resolution of health

care claims, as well as processing payment and authorization of


of those claims at the point of service."

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Allegra Print & Imaging, 2850 Route 1, Lawrenceville

08648. Ellis Galimidi, president. 609-771-4000; fax, 609-771-8771.

Home page: www.allegranet.com/lawrenceville

The four-color print production facility consolidated

two locations — at Mercer Mall and Nami Road — and expanded

to 10,000 square feet on Business Route 1 (Brunswick Pike), where

it has equipment for on-demand printing. "We are focusing on the

short-run color market with on-demand printing solutions," says

Ellis Galimidi, president. His wife, Etty, and brother Maurice are

with him in the business.

Also in the building is Borden-Perlman insurance and Jammer doors.

Among the equipment here is a Heidelberg Quickmaster direct impression

digital press, several Canon digital black and white and color


some Xerox black and white copiers, plus a large format division for

posters and banners and a prepress/graphics department.

Top Of Page
Stock News

Pharmacopeia 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.com

By the end of this year Pharmacopeia will merge with Eos Biotechnology

of San Francisco. In a tax-free, stock for stock transaction,


will contribute about $197 million in stock (based on the August 12

closing stock price of $18.51) and will issue 10 million shares of

common stock to pay for the deal. The privately funded Eos will


$44 million in cash.

The combined businesses will offer higher revenue and growth


promises Joseph A. Mollica, chairman, president and chief executive

officer of Pharmacopeia. He will retain those titles. Pharmacopeia

has patented chemical screening libraries for early drug testing and


The current CEO of Eos, David W. Martin, will be president of the

wholly owned drug discovery subsidiary and will focus on


Eos’ genomics-based drug discovery technology. Eos has an integrated

platform of custom genomics-based tools used to discover and validate

targets and to discover antibody therapeutics that are highly specific

in the treatment of cancer, angiogenesis, and inflammatory disease.

By next year, revenues from this and other Pharmacopeia drug discovery

operations are expected to be $45 million, set against $30 million

in operating losses. The year 2004 is the target for showing profits.

Top Of Page
Contracts Awarded

The Chauncey Group International, 664 Rosedale

Road, Princeton 08540-0001. Judith D. Moore, president & CEO.


fax, 609-720-6550. Home page: www.chauncey.com

The Chauncey Group International (CGI) has licensed Chun Shin Limited

to represent its English language proficiency examination, TOEIC (Test

of English for International Communication), in Taiwan. Chun Shin

is headquartered in Taipei and distributes products and services



CGI is a subsidiary of Educational Testing Service (ETS), and is the

leading provider of certification and licensing examinations for


business, and government. Last year more than 2 million language


and professionals registered to take the test, which has been given

for more than 20 years.

ExpertPlan, 50 Millstone Road, Windsor Corporate

Park 400, Suite 100, Cranbury 08512. Winthrop Cody, president.


fax, 609-918-1328. Home page: www.expertplan.com

U. S. Bancorp, the eighth largest financial services holding company

in the nation, announced in July that ExpertPlan would provide a


label web-enabled 401(k) product offered through U.S. Bank. Winthrop

Cody started this business at the Trenton Business and Technology

Center; he has 7,000 square feet at Windsor Corporate Park.

ExpertPlan’s web-based "self service" model empowers plan

participants to manage their own accounts, which eliminates


errors, and reduces costs and the administrative burdens on the


professional and the plan sponsor. The web program also offers online

access to marketing materials and proposal requests.

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Leaving Town

Dopak Inc., 2010 Eastpark Boulevard, Cranbury 08512.


At the end of June this petrochemical-based business moved to 9572

Kempewood, Houston TX 77080, 713-460-8311; fax, 713-460-8578. None

of the 10 people here accepted transfers. "Our main business is

in the Gulf Coast area, so the decision was made to move the


says a spokesperson. Martin Ball, vice president, is in charge of

this part of a Dutch company named Dovianus. Dopak makes and sells

liquid process samplers to the petrochemical industry.

J.A.R. Engineering Inc., 14 Commerce Street, Suite

110, Flemington 08822. John H. Puha, president. 908-284-9040; fax,

908-284-9095. Www.jarengineering.com

The 37-year-old engineering firm expanded from 1,600 feet to 2,400

square feet in a move from 314 Wall Street in Research Park to


The firm designs HVAC, fire suppression, plumbing, and mechanical

systems for industrial, commercial, educational, and institutional

clients. Two of the partners, John Puha and Bob Chittenden, live in

Flemington. But Albert Pressler, who commutes from Monroe Township,

claims that "you can come from where I live in and never hit a

main highway."

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Management Move

Prevent Child Abuse – New Jersey, 103 Church Street,

Suite 210, New Brunswick 08901. Janet F. Rosenzweig, executive


732-246-8060. Home page: www.preventchildabusenj.org

Janet Rosenzweig is the new executive director of the New Jersey


of Prevent Child Abuse. Formerly a professor of human services


at Rider University, she is head of Mercer County’s Commission on

Child Abuse and Missing Children.

Founded in 1979, this state chapter collaborates with schools and

organizations in 134 communities to provide programs to prevent


sexual, and emotional child abuse and neglect.

Top Of Page

Glenn G. Pearson , 51, on August 22. He was chief operator

engineer at Princeton Plasma Physics Laboratory.

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