Healthcare
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Technology of KOP’s iCeutica Critical to Curbing Addiction to Pain Meds
King of Prussia’s iCeutica Inc. is licensing its SoluMatrix Fine Patricle Technology to a nearby pharmaceutical company that produces low-dose nonsteroidal anti-inflammatory drugs for pain relief, writes John Luciew of the Harrisburg Patriot-News. Iroko Pharmaceuticals, a global pharmaceutical company based in the Philadelphia Naval Shipyard, uses iCeutica’s technology to develop a suite of drugs as…
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Bryn Mawr Hospital to Break Ground on Patient Pavilion in Ceremony Today
Officials from the Bryn Mawr Hospital will break ground for a new patient pavilion in a ceremony today scheduled for 8:30 AM. The $200 million pavilion will be 200,000 square feet and will enhance the community for future generations. Other improvements to the hospital will include: All private patient Rooms Two new medical/surgical telemetry units…
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KOP’s Greenphire Flourishes as Clinical-Trial Payment Manager
King of Prussia’s Greenphire, a company that develops and markets clinical trial payment management and data analytics software, was recently profiled in the Philadelphia Business Journal for its success in the industry. Founded in 2008, Greenphire was acquired by Riverside Co., a New York-based private equity firm, in early 2015. The company employs 95 people,…
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KOP’s Universal Health Services Buys Out Minority Owners of its Las Vegas Hospitals
The performance of its six acute-care hospitals in the Las Vegas region has prompted Universal Health Services to buy the minority ownership held by a third party, writes John George of the Philadelphia Business Journal. According to George, the payment of $445 million by the hospital-management company based in King of Prussia includes both the…
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Purchasers of East Norriton Hospital to Invest Millions in Capital Improvements
The Prime Healthcare Foundation, the purchaser of Suburban Community Hospital in East Norriton, has committed to invest $40 million in capital improvements at the hospital over the next five years, writes Justin Heinze of the Norristown Patch. The hospital, purchased from Mercy Health System, will retain its not-for-profit status as a member of the Prime…
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Lankenau Unveils Wellness Farm
There couldn’t have been a more-appropriate day than Earth Day for Wynnewood’s Lankenau Medical Center to officially unveil its Delema G. Deaver Wellness Farm, writes John George of the Philadelphia Business Journal. It’s the only hospital-based wellness farm in Greater Philadelphia. “Creating and maintaining the Delema G. Deaver Wellness Farm, in collaboration with Greener Partners,…
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With Montco Footprint, GSK Allies with Discovery Institute in Name of Neuroscience
GlaxoSmithKline, the London-based pharmaceutical company with an operation in Montgomery County, will ally with the Sanford Burnham Prebys Medical Discovery Institute in La Jolla, Calif., all in the name of neuroscience, writes John George of the Philadelphia Business Journal. The tandem will study brain function and ways to potentially reverse or slow down neurodegeneration. According…
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Einstein Healthcare Taking Over King of Prussia Building Vacated by CHOP
The Einstein Healthcare Network is slated to open a $5 million outpatient care center this summer in a King of Prussia building vacated by the Children’s Hospital of Philadelphia, writes John George of the Philadelphia Business Journal. CHOP left the site on Mall Boulevard after opening a $65 million, 135,000-square-foot specialty care center on Goddard…
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Rothman Institute to Upgrade Office Building in Blue Bell
Rothman Institute, the orthopedic-care provider, and Carlino Commercial Development have purchased an office building in Blue Bell, and are planning to spend $4.3 million in upgrades, writes Jacob Adelman of the Philadelphia Inquirer. The 88,000-square-foot building is located at 510 Township Line Road. The announcement comes on the heels of the March 16 purchase of…
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Meadowbrook’s Holy Redeemer Hospital Unveils New NICU Technology
Holy Redeemer Hospital in Meadowbrook unveiled a new technology this week that allows parents, wherever they are, to keep a close eye on their newborn in the medical center’s neonatal intensive care unit, writes John George of the Philadelphia Business Journal. The hospital has installed Angel Eye Camera Systems to its NICU beds to allow…
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Appearance on Dr. Phil Gives Boost to King of Prussia’s Genomind
The flagship product of King of Prussia’s Genomind, a personalized medicine company, was recently featured on Dr. Phil. In the ensuing days, the company reported an increase in call volume by 600 percent and e-mail volume at 70 times the normal activity, writes John George of the Philadelphia Business Journal. Genecept Assay – a genetic test…
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Ft. Washington’s Vitae Pharma Closes Stock Sale
Vitae Pharmaceuticals Inc., a Fort Washington biotechnology company, closed its public stock offering. It generated $35 million in proceeds, writes John George of the Philadelphia Business Journal. Vitae sold 5.83 million shares of common stock at $6 per share. According to George, that amount of the offering could grow by another $5.25 million. That is if underwriters…
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KOP’s CMI Acquired by World’s Largest Marketing Group
King of Prussia’s CMI, one of the largest healthcare media agencies in America, has been acquired by the London-based WPP (Wire and Plastic Products), the world’s largest marketing communications services group with revenues of $19 billion, writes Kenneth Hilario of the Philadelphia Business Journal. Founded in 1989, CMI has a total of 210 employees with…
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KOP’s Genomind Featured on Dr. Phil
King of Prussia’s Genomind, a personalized medicine company, was recently featured on an episode of Dr. Phil, writes John George of the Philadelphia Business Journal. The company’s Genecept Assay – a genetic test designed to help clinicians make more informed treatment decisions for their patients with mental illness – was the focus of last Tuesday’s…
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Hatfield’s Genisphere Partners with Lankenau to Find New Approach to Treating Ovarian Cancer
Scientists at Genisphere, a biotech company in Hatfield, have partnered with a group of peers at Main Line Health’s Lankenau Institute for Medical Research to develop a potentially new approach to treating ovarian cancer, writes John George of the Philadelphia Business Journal. Ovarian cancer is the second most common gynecologic cancer in the United States,…
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CEO of King of Prussia’s CSL Ltd. Discusses Impact of Gene Therapy
Paul Perreault, the 59-year-old chief executive officer and managing director of CSL Ltd., recently discussed with the Philadelphia Inquirer the effect that gene therapy could have on his business. Gene Therapy involves curing chronic conditions such as the bleeding disorder hemophilia by discovering and replacing the defective gene that causes it. CSL Ltd. – a…
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