No More Lenox On Lenox Drive

Rhodia’s Move: In-State & Out

Tyco’s Triplets

Expansions

Bank Notes

Deaths

Corrections or additions?

These articles by Barbara Fox were prepared for the January 18, 2006

issue of U.S. 1 Newspaper. All rights reserved.

Life in the Fast Lane

At an Einstein’s Alley meeting last month, CareGain CEO David Lenihan

predicted that his company’s plans to be bought would be fulfilled –

soon, but he couldn’t say by whom. Now the news is out. The buyer is

Fiserv Inc., a Wisconsin-based health plan manager. The sale price was

not disclosed. CareGain will continue to operate as a stand-alone unit

of Fiserv.

The firm’s current 45 employees will stay in East Windsor. "We are

expanding and we will also be continuing to use offshore resources,"

says Lenihan.

CareGain, founded in 2001 by Lenihan and Amit Gupta, has innovative

ways to cut healthcare costs (U.S. 1, February 2, 2002). Fiserv offers

health plan administration and business outsourcing services to

employers and health plans.

"Our crusade for consumer directed healthcare was a dream in 2001 when

we were first interviewed by U.S. 1," says Lenihan. "Now the dream has

become a reality, and consumer-directed healthcare benefits will be a

mainstream product."

"When we started, we were significantly capital constrained," says

Lenihan. "With the help of venture capitalists, including the NJTC

Venture Fund, CareGain was able to build an industry-leading product

for the design and administration of these new consumer directed

healthcare benefits." Currently CareGain is powering several health

plans, including Cigna’s, the health plans for the Mayo Clinic and the

University of Pittsburgh Medical Center, HIP of New York, and

Trustmark Chicago.

Lenihan reveals that just as the bankers were pitching CareGain to

Fiserv, Fiserv’s subsidiary, Wausau Benefits, recommended CareGain to

its parent – and that cemented the deal.

CareGain Inc., 50 Millstone Road, Building 300, Suite 100, Windsor

Corporate Park, East Windsor 08520; 609-426-1500; fax, 609-426-1595.

David J. Lenihan, chairman and CEO. Home page: www.caregain.com

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No More Lenox On Lenox Drive

In May Lenox plans to close its 90,000 square foot office on Lenox

Drive in the Princeton Pike Corporate Center and move to a

126,000-foot waterfront property in Bristol, Pennsylvania. Lenox will

also close a building with 180,000 square feet in Langhorne in the

consolidation effort. Jerry Fennelly of NAI Fennelly represented Lenox

in both transactions.

Billed as the largest transaction for 2005 in Bucks County, Lenox’s

new headquarters, on Radcliffe Road, is the former Dial soap factory.

It has a view of the Delaware River.

Preferred Real Estate (owner of the American Metro Center and Rhodia’s

former campus) owns the rehabbed soap factory and is reportedly buying

the Langhorne property. Brandywine Realty, which owns most of the

buildings at Princeton Pike Corporate Center, plans to buy the Lenox

headquarters there; it was designed by Geddes Brecher Qualls

Cunningham and is owned by Lenox’s former parent, Brown Forman.

Brown-Forman Corporation sold Lenox Inc. for $190 million last July to

Department 56, based near Minneapolis. The Pomona factory closed in

November and the fine ivory china manufacturing moved to Kinston,

North Carolina. The Pomona building is for sale.

Lenox Inc., 100 Lenox Drive, Lawrenceville 08648-2394. 609-896-2800;

fax, 609-895-0139. Home page: www.lenox.com

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Rhodia’s Move: In-State & Out

Rhodia vacated its Prospect Road campus in Cranbury and moved to two

locations – Cedar Brook Corporate Center and a laboratory in

Pennsylvania.

Cedar Brook Corporate Center now boasts the United States headquarters

for the French manufacturer of surfactants, fine organics, food

ingredients, water soluble polymers, latex and specialty polymers, and

phosphorus products.

The 175 laboratory workers moved to Bristol, Pennsylvania, on December

3 and 4. Some 400 workers in the headquarters office were relocated on

the weekend of December 17.

John Pierre Marchand is in charge of the laboratory at 350 George

Patterson Boulevard, Bristol PA 19007 (215-781-6001).

Rhodia was represented by an Iselin-based real estate firm, Equis, in

both transactions.

Innophos, which used to belong to Rhodia, stayed behind at the campus

on Prospect Plains road, now owned by Preferred Real Estate

Investments.

Deciding on the Bristol site, says spokesperson David Klucsik, was

partly spurred by incentives offered by Pennsylvania. But the biggest

factor in the decision was that Rohm & Haas had an empty lab that was,

he says, "quite new and state of the art." New owners had consolidated

the R&D activities and closed that building. "The plant was suitable

to our chemistry," Klucsik says. Rhodia and Rohm & Haas are

competitors, but they are also each other’s customers, a not unusual

situation for the chemical industry. "It is wonderful to have

everything under one roof," says Klucsik.

Rhodia Inc. (RHA), 8 Cedar Brook Drive, CN 7500, Cranbury 08512-7500;

609-860-4000; fax, 609-860-0074. James Harton, president, North

America. Home page: www.us.rhodia.com

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Tyco’s Triplets

Tyco International announced on January 13 that it will divide its

remaining businesses into three parts, leaving CEO Edward Breen to run

one of the three. Analysts generally approved of the move. In December

Tyco sold its Plastics & Adhesives business for $975 million in cash.

By 2007 Breen will have a new title: CEO of Tyco Fire &

Security/Engineered Products and Services (TFS/TEPS), which has more

than 118,000 employees. Other Tyco executives will retain the

positions they now have or get a promotion.

Tom Lynch will get bumped up to the job of CEO of Harrisburg,

Pennsylvania-based Tyco Electronics, one of the world’s largest

passive electrical components manufacturers. It has about $12 billion

in revenue, and with 88,000 employees worldwide it is the largest

maker of connectors used by automobile makers. Juergen Gromer will

stay at Tyco Electronics as president and Jacki Heisse will continue

as CFO.

Lynch, who is the current president of New Hampshire-based Engineered

Products and Services, will be replaced by Naren Gursahaney. Dave

Robinson will continue as president of Fire and Security.

Rich Meelia, who is now Tyco Healthcare’s president, will be promoted

to CEO, and will retain COO Kevin Gould and CFO Chuck Dockendorff. The

healthcare (disposable medical supplies) business has nearly 40,000

workers and $10 billion in revenue, and it is second only to Johnson &

Johnson in this market. It is based in Massachusetts.

Breen, 49, left Motorola in 2002 to do a turnaround job for Tyco. So

far he has cut the company’s debt by more than half. Breen’s

predecessor, Dennis Kozlowski (now in prison for grand larceny), took

more than a decade to assemble all the companies in this conglomerate.

Tyco’s spokesperson, Sheri Woodruff, says that there will be no

"significant, immediate impact" on the 360-plus workers at the

headquarters at 9 and 7 Roszel Road, and that the engineered products

and services segments will certainly stay here. Meanwhile the company

had leased 30,000 square feet at 212 Carnegie Center from Mercer Human

Resource Consulting. Tyco may try to release its sublease – or Breen

could move his third of the firm into the cheaper space.

Tyco International Ltd. (TYC), 9 Roszel Road, Princeton 08540;

609-720-4200; fax, 609-720-4208. Edward Breen, CEO. www.tyco.com

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Expansions

Eden W.E.R.C.s, 2031 Old Trenton Road, West Windsor 08550;

609-426-8646; fax, 609-426-0630. Jamie Douglas.

Eden W.E.R.C.s, which employs adults with autism, opened its fourth

employment center, the Clayton Center, in December.

Eden’s employment opportunities include secure, center-based work such

as large and small mailing projects; supported employment with a job

coach; and competitive employment where employees are dropped off and

picked up from work. Eden employees can work at convenience stores,

clean offices, do assembly work, and do administrative work such as

filing and data entry. Founded in 1983, Eden W.E.R.C.s now works with

more than 90 adults.

Top Of Page
Bank Notes

Bank of America, 160 Lawrenceville-Pennington Road, Lawrenceville

08648; 609-896-3464; fax, 609-896-3759. Home page:

www.bankofamerica.com

Bank of America is closing its branch at Lawrenceville-Pennington Road

on February 24, and it is consolidating its operations with the branch

at 3140 Princeton Pike in Lawrenceville. All the personnel have been

placed in other positions.

Hopewell Valley Community Bank, 280 Route 31, Box 999, Pennington

08534; 609-466-7399; fax, 609-466-7370. Maureen Hoppe, branch manager.

Just as Bank of America closes a nearby branch, Hopewell Valley

Community Bank will celebrate the grand opening of its Hopewell

Crossing full-service banking office on Saturday, January 21. This

branch will be open daily.

"We’re known for our great products and truly personal service, and

now we look to deliver them seven days a week," said CEO James Hyman,

CEO.

Top Of Page
Deaths

Richard A. Gervasio MD, 50, on January 9. He was chairman of the

department of anesthesiology at RWJ University Hospital at Hamilton

and a founding partner at Hamilton Anesthesia Associates.

Ira Black, 64, on January 10. A clinical neurologist and

neuroscientist, he founded the Stem Cell Institute of New Jersey and

had succeeded in converting bone marrow stem cells into nerve cells

for transplantation in a variety of diseases.

Kevin T. Vitz, 50, on January 12. He worked at Allentown Caging and

Equipment Company.

Barbara Conlon, 68, on January 12. She was working at Acme on

Princeton-Hightstown Road.

James M. King, 32, on January 14. He was an agricultural product agent

and field inspector for the Department of Agriculture. The funeral

will be Thursday, January 19, at 9:30 a.m. at Our Lady of Sorrows

Church.

Corrections or additions?


This page is published by PrincetonInfo.com

— the web site for U.S. 1 Newspaper in Princeton, New Jersey.

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