Princeton Strategy Consultants, a health care products consulting company, has moved from 103 Carnegie Center to downtown Princeton.
Stephen Fitzpatrick, president of the company, which he founded in 1988, says that it had been in Carnegie Center for 15 years and that the move occurred after an attractive opportunity came up on Hulfish Street. “It’s nice to be near the downtown facilities,” he says of his new location.
Fitzpatrick, a native of Scotland, earned his undergraduate degree in engineering from the University of Scotland and earned a business degree from London University. He worked as head of strategy consulting for PA Consulting before starting his own company.
Princeton Strategy Consultants works with health care product manufacturing companies, pharmaceuticals, medical device companies, and consumer healthcare companies. Clients of the six-person firm tend to be medium to large companies that want to grow their businesses, says Fitzpatrick. But his company also works with start-ups.
Princeton Strategy Consultants works on business strategy and new business development, often in the areas of new technologies and new markets. “We make them more competitive,” Fitzpatrick says of his clients. After some 20 years of working with health care companies, he finds that this need has taken on a new urgency. “It’s more pressing to seek out good growth opportunities, and to understand the implications of entering a new market,” says Fitzpatrick. “There is more demand.”
A change in the health care field that Fitzpatrick has seen is that “all work now has a global dimension to it.” He says that it is unusual for a product to be developed for and marketed to just one region. “That has changed over 20 years,” he says. “Now a company makes a decision based on whether a product will do well not just in the United States or in Europe, but in the United States, and Europe, and China, and Brazil.”
Factors in the appeal of a consumer product, he says, can include its price. Perhaps European consumers can afford it, but if consumers in less well off continents cannot, a company may decided that the product is not worth developing. On the professional side, say in the case of a medical device to be sold to hospitals, manufacturers are eager to know about reimbursement policies in different countries. If a procedure performed by a device is not reimbursed by the insurance systems in too many countries, it might not be worth a big investment.
Most of the strategy analyses Princeton Strategy Consultants performs have “multi-dimensional considerations,” says Fitzpatrick.
Noting how global his industry has become, Fitzpatrick says that he has become a resource for helping his countrymen attain success by forging partnerships around the world. “I’ve been associated with GlobalScot for two or three years,” he says. The organization operates under the auspices of Scotland’s economic development authority, Scottish Enterprise (www.scottish-enterprise.com). By introducing fledgling Scottish entrepreneurs to potential partners, GlobalScot seeks to get them off to a fast start, and also to help commercialize the science coming out of Scotland’s universities.
Fitzpatrick, a Princeton resident who has lived in the United States for some 25 years, is happy to help in the effort. The work is similar to the work of his company. “It’s important to become global quickly,” he says. “It’s important to get to the right people and to understand sensible connections.”
Princeton Strategy Consultants Inc., 47 Hulfish Street, Suite 400, Princeton 08542; 609-452-8669; fax, 609-452-1017. Stephen P. Fitzpatrick, president.
New in Town
Boldeco Environment, 88 Orchard Road, Suite 2, Skillman 08558-2642; 908-874-7055; fax, 908-874-0309. Joe Riley. Home page: www.boldeco.com .
BoldEco Enviroment has taken offices at Orchard Road. The company installs dedusting systems for a variety of industrial and utility application
According to the company’s website, “heavy industry in general has made valuable contributions to ambient air quality in recent years, in part to comply with environmental protection directives, in part to satisfy the demands of local authorities and neighboring communities.
“Electrostatic Precipitators (ESPs) are typically found on various processes such as cement and lime kilns, utility and recovery boilers, industrial and municipal waste incineration plants, as well as pulp and paper plants Still, many of these plants experience high dust emissions. These emissions are easily avoided with the installation of add-on gas conditioning systems or by replacement with a properly designed modern fabric filter dedusting system.”
BoldEco designs, fabricate, erects, and services complete gas moving and dust collection systems, both new and retrofitted.
Skillman Management and Capital, 318 Wall Street, Princeton 08540; 609-497-2400; fax, 609-497-2407. Hamilton Potter, president & CEO.
Accordis Inc., a medical accounts receivable management company, has been sold to Apollo Health Street, a company with corporate offices in Conshohocken, Pennsylvania, and is no longer operating in this area. The company was owned by Hamilton Potter, who continues to occupy an office at this address as he runs Skillman Management and Capital, a business investment and management services firm.
Accordis had 240 employees in locations throughout the country, including New York, Chicago, and Los Angeles, and served hospitals, municipalities, physician groups, and ambulance operations. Its job was to take over the most difficult accounts receivable files.
Toshiba Business Solutions, 666 Princeton Meadows Office Center, Suite 1226, Plainsboro 08536; 609-275-0700; fax, 609-275-1535. Jeff Benfer, branch sales manager. Home page: www.tbsnynj.toshiba.com.
Toshiba Business Solutions, which sold business equiptment, including printers and copiers, closed its Plainsboro office in July.
A spokesperson says that the company now has just three showrooms in the general area. They are located in Woodbridge, Bayonne, and Mahwah.
Employees in the Plainsboro, says the spokesperson, were offered jobs in other locations.
A Princeton University researcher has been awarded a grant of $920,000 from the National Human Genome Research Institute. The grant is one of ten, totalling $20 million, that were announced on August 23. The intent of the institute is to spur the development of technologies that are inexpensive and efficient enough to sequence a person’s DNA as a routine part of biomedical research and health care.
The Princeton researcher is Stephen Y. Chou, who is working on nanogap detectors for fast real time DNA sequencing.
Chou’s group will explore using a nanochannel that includes a nanogap detector sensitive enough to identify DNA base pairs by their electrical signals as a single DNA molecule is moved through the device, eliminating the costly step of amplifying or labeling the DNA. The focus of the initial work is to develop techniques for fabricating nanogap detectors with improved sensitivity and functionality.
R Square, a company that provides IT services to large and mid-sized companies, has agreed to pay $95,711 to 12 non-immigrant workers, according to a statement by the U.S. Department of Labor.
The Department of Labor reports that an investigation turned up the fact that R Square had underpaid computer professionals between July, 2006, and July, 2007. “This case demonstrates our commitment to enforce the H-1B provisions which guard against employers undercutting American workers by underpaying temporary foreign workers,” Pat Reilly, district director of the Wage and Hour division’s southern New Jersey office, said in a prepared statement.
Officers of the company, which has its offices at 5 Independence Way, were not available for comment by press time.
R Square, 5 Independence Way, Suite 150, , Princeton 08540; 609-520-8204; fax, 609-520-8204. Anil Kumar. Home page: www.r-square.com.
Dennis R. Casale, 54, on August 24. He was co-partner in charge of Pepper Hamilton’s Princeton office.
Arthur S. Boorstein, 71, on August 24. A certified public accountant, he taught at MCCC.
Anthony R. Vaccaro, 88, on August 23. In the late 1960s, along with his brothers, he founded the Clarksville Sod Farm, from which he retired in 1995.
Keith R. Dilts, 40, on August 23. He worked in the information technology division of McGraw Hill.
James M. Kyle, 81, on August 23. He was the former president of the Coated Products Company in Middlesex.
David D. Kerlin, 81, on August 22. He ran an insurance agency on Nassau Street for 23 years, until 1995.
Jack L. Roemer, 74, on August 19. A dentist, he practiced from an office on Harrison Street in Princeton.