Medical Start-Up

Expansions

Stock News

Crosstown Moves

Contracts Awarded

Deaths

Corrections or additions?

This article by Barbara Fox was prepared for the June 25, 2003 edition of U.S. 1 Newspaper. All rights reserved.

Leaving Town; Starting Up

Five years after an Irish physicist opened an office

in Princeton for his brother’s electronic commerce company, he has

closed the office and opened another company. Kevin McGuire, the brother

of the Irish CEO of Trintech, founded a software development lab in

1997 with physicists who were taking a leave of absence from Princeton

Plasma Physics Lab.

Trintech is doing well globally but needed to cut costs, hence, the

closing of the software development office in Princeton. It is a direct

supplier and an OEM (original equipment manufacturer) supplier of

card payment software and electronic commerce solutions for bankers

and retailers.

Over the years Trintech has closed locations in San Jose and Miami

and bought a handful of companies including Globeset, a company in

Texas that is now the U.S. headquarters. The Texas company has a product

called PayWare ReconNet that provides nearly 300 banks, retailers,

insurance companies, and telcos with reconciliation and collection

item tracking solutions. The address: 15851 Dallas Parkway, Suite

940, Addison TX 75001, 800-416-0075; fax, 972-701-9337. Email: info-usa@trintech.com

The Princeton office started on Poor Farm Road, and moved to 4,000

square feet on Independence Way (U.S. 1, December 3, 1997). At its

biggest, in 2001, this office had 6,000 square feet and 45 people

in 2001. Some of the Princeton workers transferred to Dallas and some

are now working for McGuire’s spinoff, Princeton Payment Solutions

at 501 Forrestal Road. They include one of Trintech’s first employees,

Marilee Thompson, plus Fang Zhou and Diane Berger.

McGuire grew up in a family of 12 in Dublin, graduated from University

College Dublin in 1976, and did two master’s degrees and a Ph.D. in

plasma physics at Oxford. He came to work at the Plasma Physics Lab

in 1979.

He started his own value-added reselling companies, selling Trintech

software in the United States, and has an independent sales team. "I

took five or six of the staff, and they have given us a fairly good

reseller agreement," says McGuire. His main sales product is

a credit card payment system for SAP’s enterprise resource planning

suite. "We are putting a big effort into modernizing it and putting

a marketing and sales focus on it."

He is hiring and is particularly looking for SAP consultants. "When

we try to sell our product, people want to talk to SAP experts,"

he says.

Marketing starts with lists of corporations that have SAP installed

on Unix systems. Installing the Trintech system on the sales and marketing

modules can make accepting credit cards an automatic, seamless process.

Swipe the card and the system makes the call and gets the authorization,

just like in the supermarket. "We are also working to acquire

another product, a refinement of back end transactions, to resell

it for Trintech," says McGuire.

His friends at Advanced Energy Systems, an accelerator and energy

technology firm on Forrestal Road, helped him find space in their

building, just a short distance from his first employer, Princeton

Plasma Physics Lab.

He has eight employees now, and some are working from home. To finance

the company he used his severance money and he has various maintenance

contracts as well. "Now I have the opportunity to start my own

company," says McGuire. "It feels good. Things are slow in

this economy but beginning to pick up a bit. It’s a good product and

Trintech has given us a good deal. We are putting a lot of effort

into it because we know the business. With our SAP experience —

well, the big corporations have to start spending soon."

"We have to hope for the economy to turn around. Timing is everything."

Trintech (TTPA), 5 Independence Way, First Floor,

Princeton 08540. 609-919-6000; fax, 609-720-1020. Home page: www.trintech.com

Princeton Payment Solutions, 501 Forrestal Road,

Forrestal Campus, Princeton 08540. Kevin McGuire. 609-919-0700.

Top Of Page
Medical Start-Up

Paula and Mario Uribe left 9 to 5 jobs to start a business

that combines retail and healthcare. At a corner storefront, next

to Carlucci’s in the Southfield Shopping Center, they sell and rent

everything from wheel chairs to breast pumps.

MP Medical Supplies carries liftchairs, scooters, walkers, roll-a-tors,

commodes, and other durable medical equipment, plus braces, splints,

and supports for backs, necks, wrists, arms, elbows, and feet. "In

addition to the elderly market, we are targeting the healthy adults

who are active in sports and then hurt themselves," says Paula

Uribe.

Mario Uribe came to this country from Santiago, Chile, when he was

a child. He and Paula were high school sweethearts in Manhattan and

have been married for 35 years. Their 34-year-old son Brian is a federal

agent in the treasury department, and 30-year-old Kevin won an Emmy

when he was a gaffer for the Winter Olympics in Salt Lake City.

Paula’s father was a social worker who had studied violin with Jascha

Heifetz. She went to Lehmann College in the Bronx. Mario graduated

from Canisus College in New York State and worked for such companies

as Xerox and New Bridge Networks. Both she and Mario were employed

in New York for Bennett Surgical before deciding to open their own

business here. "We did research and decided this was the best

place to settle," says Paula.

The couple has invested a little over $250,000 to start up their shop,

which opened in May, and their business plan calls for grossing more

than $1 million annually in both sales and rentals.

Most medical equipment stores rely on the rentals — the hospital

beds and the wheelchairs, says Paula Uribe. "The rentals are the

annuities. But we want to provide things on the retail side, because

the elder people like to touch things. Three fourths of our 2,000

square foot store is in retail."

Drugstores and other medical supply stores are their competition,

but they did the demographics and figure there should be more than

enough business. As for drugstores, says Paula, "You want to measure

someone into how they will fit into a wheelchair. A drugstore doesn’t

have the time to show the clients how the equipment works."

MP Medical Supplies, 335 Princeton-Hightstown Road,

Southfield Shopping Center, Princeton Junction 08550. Paula Merein

Uribe and Mario Uribe, owners. 800-806-9604; fax, 609-275-8828. E-mail:

mpmedicalsupply@aol.com

Top Of Page
Expansions

Sonali Corporation, 21 Englehard Drive, Monroe

08831. Meena Jagtiani, president. 609-860-9925; fax, 609-860-9926.

This 20-person wholesale clothing company expanded from 45 Everett

Drive, Building C, to 15,000 feet at 21 Englehard Drive in Monroe.

Phone and fax are new.

Princeton Care Center, 728 Bunn Drive, Princeton

08540. Robert Kovacs, administrator. 609-924-9000; fax, 609-921-2451.

The 119-bed privately owned nursing home moved from Quarry Street

to a new building on Bunn Drive. It was formerly known as Princeton

Nursing Home.

Top Of Page
Stock News

First Washington State Bank (FWFC), Route 130 and

Main Street, Windsor 08561-0500. C. Herbert Schneider, president and

CEO. 609-426-1000; fax, 609-426-9624. Www.fwsb.com

First Washington FinancialCorp, holding company for First Washington

State Bank, begins trading on the Nasdaq SmallCap market on Wednesday,

July 25. It had been trading on the OTC Bulletin Board to the NASDAQ

SmallCap Market. The bank has 11 branch offices in Mercer, Monmouth,

and Ocean counties, and it is a joint venture partner with Lakewood-based

Windsor Title Agency LP.

RCN Corporation (RCNC), 105 Carnegie Center, Princeton

08540. David C. McCourt, chairman and CEO. 609-734-3700; fax, 609-734-4586.

Home page: www.rcn.com

Evergreen Investment Management Co. will loan $41.5 million to RCN

in exchange for warrants for 4.15 million shares of common stock at

an exercise price of $1.25 per share. This loan covers the $40.5 million

in interest expenses that the company paid in the last quarter of

2002.

In its overall debt restructuring effort, RCN has wiped out $1 billion

in debt in the past two years but at the end of March it still showed

$1.73 in red ink. RCN offers such bundled services as cable, telephone,

and the Internet to residential customers. Earlier this year it sold

its Princeton area business to a new company, Patriot Media Communications.

Top Of Page
Crosstown Moves

Allstate New Jersey Insurance Company, 2273 Route

33, Suite 205, Hamilton 08690. Kevin M. Zola, exclusive agent. 609-587-2196;

fax, 609-587-2436.

Kevin Zola has moved his Allstate insurance office from 341 Whitehorse

Avenue to Route 33 and has a new phone and fax.

Bike-Time LLC, Box 295, Cream Ridge 08514-0295.

Tom Flaherty, president. 609-758-1400; fax, 609-758-1400. Home

page: www.bike-time.com

Tom Flaherty moved his bike-trip business from Bordentown to Cream

Ridge. He does corporate wellness programs, social events, and country

bike tours — providing bicycle rentals and tour guides (U.S.,

April 24, 2002).

Top Of Page
Contracts Awarded

Inmat LLC, 216 Route 206, Valley Park, Suite 7,

Hillsborough 08844. Harris Goldberg, president & cofounder. 908-874-7788;

fax, 908-874-7672.

InMat Inc. has received a Phase II SBIR contract to develop improved

chemical protective gloves for the U.S. Army Soldier Systems Center

in Natick, Massachusetts. "In Phase I we were able to demonstrate

InMat’s capability to develop new nanocomposites that were designed

to meet the needs of our customer," said CEO Harris Goldberg.

InMat’s elastomeric nanocomposite coatings are aqueous, non-hazardous

coatings with no volatile organic compounds. This technology is being

used by Wilson Sporting Goods in its Double Core tennis balls (the

official ball of the Davis Cup), enabling those balls to hold their

air pressure longer than any other pressurized ball (U.S. 1, October

16, 2002).

Taylor, Wiseman & Taylor, 2007 Eastpark Boulevard,

Eastpark at Exit 8A, Cranbury 08512. Gary Vecchio PE, regional manager.

609-655-9525; fax, 609-655-4656. Www.twt.com

The engineering and surveying firm has a two-year contract with the

state department of transportation for Statewide Primary Control and

Global Positioning surveys. "TWT has a long history of working

with the New Jersey Geodetic Survey on many GPS projects," says

Jesse Kozlowski, the firm’s survey technology manager. "The next

two years will be very exciting as we develop the next generation

of wireless technology."

Top Of Page
Deaths

Edward Shecter on June 19. He was president of the Total

Quality Resources and chaired the education committee of the Princeton

chapter of the American Society for Quality Management.

Aaron Lemonick, 80, on June 19. A physicist, teacher,

and administrator at Princeton University, he had been dean of the

graduate school and of the faculty.

Tony Stefanelli, 87, on June 21. He was the founder of

Stefanelli’s Garage on Bayard Lane.


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