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Health Care

Qualcare plan soaring in enrollment thanks to its ability to cut Obamacare costs

In 2004, QualCare launched Affiliated Physicians & Employers Health Plan, which is a self-insured plan. Three years ago the Employers Association of New Jersey entered into an agreement that allows EANJ member companies to join the plan, known as a “multiple employer welfare arrangement” or MEWA. The MEWA currently covers about 13,000 lives, and that ...

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Avista Capital makes majority investment in Vertical Trigen Holdings

According to the announcement, Avista is partnering with co-founders Steven Squashic, Kevin Hudy, and David Purdy, who will remain in place and retain a significant minority ownership stake in the company. Moving forward, both Vertical and Trigen will continue to offer their full existing product lines as the company pursues new opportunities for strategic growth. ...

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Everett Laboratories acquires Quinnova Pharmaceuticals

According to the announcement, the acquisition will result in the strategic expansion of Everett into the fast-growing U.S. dermatology market. As a member of the Exeltis family, the acquisition will allow Quinnova to leverage extensive resources and capabilities in research and development, marketing strategy, intellectual property and business development worldwide. This broad-based support will enable ...

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SJP Properties, Valeant Pharmaceuticals ink deal in Bridgewater

The 310,000-square-foot site at the Somerset Corporate Center complex will serve as Valeant’s U.S. headquarters, starting as soon as the first quarter of 2014, SJP said in a news release. The company also tapped the Parsippany-based developer to oversee the build-out of the new space, which is wedged between Route 22 and Route 202/206. The ...

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Doctors Express patiently on fast track for growth

Entrepreneur Albert Saad said he plans to open six Doctors Express locations over the next five years, including two in the coming months: in South Plainfield in January and West Orange in February. Saad said he has raised capital from 18 investors — nine of them physicians. And while he would not disclose the amount ...

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Hackensack ACO earns prestigious honor

The NCQA recognizes medical organizations that deliver patient-centered care to improve quality while reducing costs. In its first year, the Hackensack Physician Hospital Alliance ACO saved Medicare more than $10 million, and is one of only seven ACOs in the country to be recognized by NCQA, according to Dr. Morey Menacker, chief executive of the ...

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QRxPharma raises $10.38M in capital

According to the announcement, the capital was raised through completion of its share purchase plan to existing shareholders, totaling $3.67 million, as well as a placement to institutional investors resulting in $6.71 million in proceeds. Both transactions valued each share at 60 cents. The capital from the combined transactions will be use dot fund 2014 ...

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N.J. labs pushing to be in-state providers on state health plans

BioReference Laboratories Inc. CEO Marc Grodman said the bill, S2428, encourages competition by letting New Jersey providers, including Madison-based Quest Labs and other health sector companies, vie for services provided they meet price demands. “If we are going to let competition rule, and allow for innovation and better access, then give New Jersey entities the ...

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DermOne acquires Allentown dermatology practice

According to the announcement, the company’s acquisition of the private dermatology practice of Dr. James R. Wall adds to its rapidly growing network of neighborhood dermatology centers . Dr. Wall will continue to provide general dermatology services at his current location, but with additional resources and management services provided by DermOne.The company acquired a Virginia-based ...

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Senesco announces up to $25.2M equity financing

According to the announcement, the offering is expected to close Thursday, subject to customary closing conditions. The initial net offering proceeds to the Company from the sale of units consisting of shares of common stock and warrants, after deducting the estimated offering expenses payable by the company of approximately $150,000, are expected to be approximately ...

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Bard declares dividend

According to the announcement, the current indicated annual dividend rate is 84 cents per share. The dividend is payable on January 31, 2014 to shareholders of record at the close of business on January 21, 2014.The company announced an identical quarterly dividend in October.More dividend news > Follow @NJBIZ     // <![CDATA[!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

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