Management Move

ECHL, 116 Village Boulevard, Suite 304, Princeton 08540; 609-452-0770; fax, 609-452-7147. Brian McKenna, commissioner. Home page:

The ECHL, a 20-year-old professional hockey organization, announced that Mike Murray has been promoted to vice president of hockey operations. ECHL, with 20 teams in 15 states, was formerly known as the East Coast Hockey League.

Murray joined the ECHL in September 2008 as coordinator of hockey operations and was promoted to manager of hockey operations in June. He replaces senior vice president of hockey operations Rod Pasma, who was hired by the American Hockey League as executive vice president of hockey operations.

A native of Dover, Massachusetts, Murray played hockey for four years at Dartmouth College and two seasons as a professional including in the ECHL with Augusta, Cincinnati, Reading, and Trenton. He received his J.D. from Suffolk University Law School.

Crosstown Moves

Provident Senior Living Trust, 109 South Main Street, Unit 17, Cranbury 08512; 609-720-0825; fax, 609-720-0826. Darryl W. Copeland Jr., president.

Provident Senior Living Trust has moved from College Road East to Cranbury.

Provident is a self-administered and self-managed real estate investment trust focusing on acquiring income-producing senior living properties that derive substantially all of their revenues from private pay sources. It has invested approximately $1 billion in 68 properties in 19 states.

CEO Darryl Copeland once served as a managing director of an affiliate of Fortress Investment Group, the group that bought Interpool transportation company from Marty Tuchman in 2007 and formed Seacastle Chassis. There Copeland was responsible for senior living and healthcare-related investments for the private equity funds, as well as other financing and asset acquisitions in the senior living field.

Prior to joining Fortress, Copeland was CEO and majority shareholder of DWC Web Corp. (“DWC”), an internet technology company that he founded in March 2000 and subsequently liquidated under Chapter 7 of the Bankruptcy Code in June 2001. He also served as executive vice president and CFO of BLCI and was an investment banker with Donaldson, Lufkin & Jenrette Securities as senior vice president in the healthcare and leveraged finance group.

Scholastic Book Fairs, 14 Applegate Drive, Robbinsville 08691; 800-822-3247; fax, 609-860-1348. Eileen McGuire, manager.

Scholastic Book Fairs, the events arm of the children’s and educational book publisher, has moved from Englehard Drive in Monroe to Robbinsville.

Spokeswoman Teryl McLane said the move is an expansion for Scholastic. The company had operated a 49,585-square-foot office and warehouse/distribution space in Monroe since moving from a 39,000-square-foot space in Morganville in 2004. The company now occupies an 83,000-square-foot space on Applegate Drive.

Business has been good enough for the company to hold onto its employees — McLane said that none of the 50 employees from the Monroe site were let go, though not all came to Robbinsville, about 15 minutes south.

Leaving Town

PVML Photovoltaics, 947 State Road, Princeton; 609-945-4930. Constantine Gkikas, CEO.

The solar energy company, headed by Constantine Gkikas, appears to have left its office on State Road. Business neighbors here say Gkikas vacated the office, though the phone and fax numbers still work, but calls were not returned.

The company consults on the design, manufacture, and installation of solar panels, emphasizing process automation. The firm is headquartered in Greece.

Stock Market News

NexMed (USA) Inc. (NEXM), 89 Twin Rivers Drive, East Windsor 08520; 609-371-8123; fax, 609-426-9116. Vivian Liu, CEO. Home page:

NexMed, an East Windsor pharmaceutical company, has received notice that it does not comply with the minimum $2.5 million in stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. As of June 30, 2009, the date of the Company’s most recently filed financial statements, the company’s total stockholders’ equity was $1,700,553.

NexMed’s pipeline includes treatments for erectile dysfunction, female sexual arousal disorder, and for psoriasis.

NexMed has until Thursday, August 27, to submit a specific plan to Nasdaq to achieve and sustain compliance with its listing requirements, including the time frame for completion of the plan. If the plan is acceptable to Nasdaq then the Company would be granted an extension of up to 105 calendar days to implement it and to achieve compliance.

“In our response to Nasdaq, we will request that Nasdaq take note of our continuing restructuring and cost containment program begun in December, 2008, as well as potential revenue opportunities from the licensing of our products under development,” Mark Westgate, NexMed’s CFO, said in a statement.

Strategic Alliance

Covance Inc. (CVD), 206 Carnegie Center, Princeton 08540-6681; 609-452-8550; fax, 609-452-9375. Joe Herring, CEO. Home page:

Covance has closed its transaction with Merck to provide a broad array of genomics analysis services under a five-year $145 million contract and to acquire Merck’s Seattle-based Gene Expression Laboratory. Effective August 17, 2009, Covance assumed control of the facility and the Seattle team has joined Covance.


Adele D. Danley, 83, on August 23. She was a waitress at the Annex restaurant on Nassau Street for more than 40 years.

Sharon K. Kooney, 63, on August 21. She was the owner of Circa, a vintage clothing store in Hopewell.

Joseph R. Nini, 84, on August 20. He was the Princeton Township Administrator until 1985. He was also the first president of the Princeton Italian American Sportsmen’s Club, and was instrumental in establishing the Princeton Petoranello Foundation.

Judith Connerty Peter Wolfinger, 68, on August 19. She was vice president of the Carrier Foundation until her retirement in 2008.

Marcia M. Chapman, 77, on August 12. She was the owner of Dresswell’s, a clothing store in Lambertville.

Facebook Comments