Tag: PACT Member

13 Ways To Onboard Happy Employees and Increase Retention

Amanda Nardi

A good onboarding process can help you increase retention and make sure new hires get up and running quickly. Get our favorite tips for better onboarding.

The onboarding experience is a crucial first impression for your new hires. As an employer, it offers the opportunity to set people up for success within your company, and feel that they’ve made the right choice in joining your team.

In this way, onboarding is also helpful for employee retention. A great onboarding process helps new hires become effective employees sooner, which builds their confidence and helps them grow.

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For further inquiries please contact Melissa Putterman: [email protected] || w:929-236-9750

RSM Names Patrick Healey Financial Due Diligence Partner

Amanda Nardi

Addition expands transaction advisory practice in the Northeast

CHICAGO (January 07, 2020) – RSM US LLP (“RSM”) – the nation’s leading provider of audit, tax and consulting services focused on the middle market – is pleased to announce that Patrick Healey has joined the firm’s national transaction advisory services (TAS) practice as a partner in financial due diligence.

“We’re very excited to have Patrick join our transaction advisory practice to continue building on our strength in the Philadelphia market with our comprehensive due diligence offering, including financial, tax, operational, IT and cyber due diligence.” said Michael J Grossman, national leader of RSM’s TAS practice.

Healey has nearly 19 years of financial analysis and accounting experience, with the last 15 years solely focused on transactions. Prior to joining RSM, he worked for a Big Four accounting firm,  where he focused on both corporate and financial sponsors across several industries including chemicals, manufacturing, consumer products, technology, business services and communications.

“I’m excited to join the RSM team and to bring the full breadth of transaction advisory services to the Philadelphia market and our clients across the country,” said Healey. “Joining this growing team in Philadelphia, I will be able to bring our strength in financial, tax, IT and operations due diligence to meet our clients’ needs when and where they need it.”

Healey earned his master of science in accounting from University of Virginia, and holds a bachelor’s degree in accounting and finance from Boston College. He will be based out of RSM’s Philadelphia office.

About RSM US LLP
RSM’s purpose is to deliver the power of being understood to our clients, colleagues and communities through world-class audit, tax and consulting services focused on middle market businesses. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business environment.

RSM US LLP is the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 41,000 people in 116 countries. For more information, visit rsmus.com, like us on Facebook, follow us on Twitter and/or connect with us on LinkedIn.

LifeStance Selects Tridiuum to Advance Behavioral Health Outcomes; Reduce Suicides Nationally

Amanda Nardi

Tridiuum ONE digital behavioral health platform to aid in rapid assessment of patient health needs, deliver evidence-based analytics, and enhance treatment progress

PHILADELPHIA, Pa. – Jan. 7, 2019 – Tridiuum, the leading digital behavioral health company for improving outcomes, access, and patient-provider engagement across integrated care environments, today announced that LifeStance Health, a national leader in behavioral healthcare services, has selected the Tridiuum ONE platform to drive improvements in patient outcomes, further enhance quality, and better demonstrate the value of its services to patients, providers, and purchasers. Both companies also view the relationship as a key driver toward their shared commitment to making suicide a “never event.”

“We are thrilled to support LifeStance in the essential work they do to treat mental health issues across the country – particularly as it relates to ending the suicide epidemic,” said Mark Redlus, Tridiuum CEO. “With demand for mental health services at an all-time high, LifeStance recognizes the need to improve the safety and quality of patient assessments by giving patients an active voice in calibrating treatment through continuous feedback. Ultimately, this translates into patients getting better faster.”

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Xverity Launches CaregiverAssistSM for Employer and Home Care Markets Tech-enabled solution creates 24/7 “caregiver presence”

Amanda Nardi

Bethlehem, PA – Xverity, Inc., a technology-enabled caregiving services company, today announced the launch of CAREGIVERASSISTSM, a nationwide social ecosystem designed to support caregivers and provide safety, security and peace of mind for care recipients.

CAREGIVERASSIST is available in two versions: one for the employee market to help relieve the stress of juggling dual responsibilities as caregiver and employee, the second for the home care industry  In both cases, CAREGIVERASSIST creates a 24/7 “caregiver presence” when the paid home care professional or unpaid family caregiver is not with the care recipient.  A key component of CaregiverAssist is an Advocacy Center staffed by trained personnel to answer questions and, when appropriate, refer the caller to other CaregiverAssist resources.

Joe Cellucci, Xverity founder and CEO, said that CAREGIVERASSIST is the first high-touch/high-tech services solution for employers dealing with 20% productivity losses, higher health benefits costs, and 32% voluntary terminations among employee caregivers, and for home care companies trying to balance increased efficiency with a positive customer experience. A cancer survivor and only-child caregiver for his mother, Cellucci transformed a technology platform used by thousands of chronically ill outpatients in the UK.  “Here in the US, we spoke with HR professionals about gaps in corporate-sponsored programs to support employee caregivers.  And we reached out to our seven-member Innovation Advisory Board for their expert input and reaction to the design of CaregiverAssist.  For the home care market, we polled our home care network to learn about caregiving from their perspective as managers of professional caregivers,” Cellucci said.

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Featured Members

Ben Thomas

Welcome PACT Members

  • Accenture
  • Activate Capital
  • AmerisourceBergen Corp.
  • AumiPhyte Health
  • BridgeBank
  • British Columbia Trade and Investment
  • Brownstone PR
  • Business Development University
  • Ciright Strategic Holdings, LLC
  • Directlink Technologies, Corp.
  • Energage
  • Fleet Walker Video
  • Fulton Bank
  • Geistlich Pharma North America
  • Halfpenny Technologies
  • inDoW
  • InfoMC, Inc.
  • Inovio Pharmaceuticals
  • IntegriChain, Inc.
  • Invisible Sentinel
  • McGriff Insurance Services
  • MED127, Inc.
  • Newmark Knight Frank
  • OnPace+
  • PrivaKey
  • PromptWorks
  • Qlik
  • Robin Hood Ventures
  • SeventySix Capital
  • Tactix Real Estate Advisors
  • Therapeutic Articulations LLC
  • Thomas Jefferson University
  • Tmunity Therapeutics
  • TracDiem
  • xVenturesGroup LLC

How IoT Testing Will Make Telemedicine More Credible?

Amanda Nardi

Contributed by Cigniti Technologies.

Healthcare industry was a late bloomer in terms of digital transformation – but, once it took the plunge, it is going ahead with full swing. As per a Business Insider Intelligence report, this digital transformation is triggered by the changing consumer demands and the need for reducing costs. The key players which initiated this shift are the digital solutions such as Electronic Health Records (EHRs), Telehealth, AI, wearables, and blockchain.

Jason Krantz – CEO, Definitive Healthcare – emphasized on the proliferation of Telehealth with the support of Internet of Medical Things (IoMT), Artificial Intelligence and Machine Learning in a recent webinar on “Top Healthcare Trends in 2019”. Growing at an exponential rate, global telehealth industry is expected to hit $130 Billion by 2025 while the IoMT market will rise to $409.9 Billion. As of 2018, funding for U.S. digital health sector has touched $6.8 Billion. There is an increase in the adoption of telemedicine, with technology-driven smart insights gaining momentum. As of now, nearly 1800 hospitals use mobile applications to monitor and interact with patients. These devices are generating massive amount of data, which must be dealt with effectively. With AI and deep learning, the collected data can be utilized in real time to deliver efficient care.

The Blessings of Telemedicine

The focus of Telehealth or Telemedicine is on improving access and saving costs. It paves a two-way street, which ensures convenience for both care providers and receivers. The number of deaths occurred annually, due to delayed medical assistance, is staggering. Even if 911 delivers assistance on time, many-a-times the nearest hospitals do not have the required expertise to treat the incoming patient. In such cases, crucial time is wasted in transporting the patient to the expert facility. Telemedicine equips hospitals, big or small, to accept and treat an emergency patient irrespective of the availability of in-house specialists. It essentially facilitates remote connectivity, eliminating the need to physically cover the distance.

It is not that easy, or is it?

The idea of getting healthcare delivered to you at the comfort of your home, when you can barely get out of the bed, seems tempting. But, presence of a screen removes the magic of doctor’s touch. Majority of the population still prefers physical examination over an algorithm’s analysis. This apprehension is a huge obstacle to a wider adoption of telehealth.

While hospitals are involving predictive analysis for a more accurate assessment, there is a dark side to AI that they need to consider. At the end of the day, AI is a machine, which depends on data to learn patterns and make decisions. Even the slightest error in the data may prove to be of dangerous consequences, especially in healthcare. Additionally, there is also a high possibility of data breaches. Healthcare industry traditionally works in silos, where patient privacy is of utmost concern as the stakes are high. The 18 data breaches happened in 2018 compromised over 1 lac healthcare records, driving the attention to the cybersecurity aspect of Telemedicine.

Why AI, ML, and IoMT are in the picture?

Because, they are the picture!

With the rise of consumerism in healthcare, the tech-savvy, price-sensitive patients now prioritize convenience above everything else. The market is proliferating with IoMT devices and wearables. These devices are used to maintain the flow of data between patients and doctors. They also provide easy accessibility to existing health records for reference purposes and offer a platform to maintain an open communication channel. Due to the physical absence, AI and ML are critical in reading reports, analyzing data, and presenting a final diagnosis, based on which the doctors can take a call and make the necessary prescriptions.

How Does IoT Testing Bring It All Together?

IoT Testing of medical devices ensures a seamless execution of this “Virtual healthcare” strategy. As IoMT devices offer a platform to establish a dialogue between the patients and caregivers, it is extremely important that it functions smoothly. Also, the sensitivity of data involved requires that the cyber-walls are fortified with apt reliable solutions. IoT testing becomes imperative in making the whole system immune to threats and preventing data leaks.

Telemedicine, Telehealth, or mHealth has set out to revolutionize the way healthcare is received or provided. With the incorporation of technology, the modern healthcare industry will significantly improve the average quality of life.

New Warehouse Deliveries Drive Absorption Gains

Amanda Nardi

Philadelphia, PA (April 30, 2018) — Newmark Knight Frank (NKF) released its first-quarter 2018 reports for Greater Philadelphia and the I-81/78 Corridor industrial markets. The combined markets closed the period with 0.8 million square feet of occupancy gains. Quarter-over-quarter, the combined vacancy rate stayed flat at 6.6 percent as the market remained extremely tight. There were only two deliveries this quarter, both warehouse properties. 139 Fredericksburg Road in the Central Pennsylvania submarket delivered a 225,875-square-foot expansion that was promptly occupied by Ace Hardware, while 305 East Church Road in Montgomery County, a 49,102-square-foot building, delivered vacant. The I-81/78 Corridor continued to capture the majority of the warehouse pipeline, where, 8.9 of the combined markets’ 14.4 million square feet of new space is being built.

The Southern New Jersey market recorded 226,511 square feet in negative absorption, its first quarter of negative posting since the second quarter of 2015. The Camden County submarket experienced the greatest loss with 179,120 square feet of negative absorption, followed by Burlington County with 44,461 square feet and Gloucester County with 2,930 square feet. Quarter-over-quarter, overall vacancy in the market increased 20 basis points, but remains low at 4.2 percent. While vacancy in Burlington and Glouster Counties remained steady at 3.7 and 5.8 percent, respectively, vacancy in the Camden County submarket rose 60 basis points to 3.6 percent. Two major moves came as Bellmawr Laundry left 74,000 square feet at 281 Benigno Avenue in Camden County and AMF Holdings vacated 48,000 square feet at 1808 River Road in Burlington Township. Despite the slight uptick in vacancy, optimism for the future of the market remains high. According to Kurt Montagano, NKF senior managing director, “Despite increasing rents in the Southern New Jersey markets, demand continues to outpace supply, creating spec and build-to-suit activity.”

The New Castle County, Delaware market slowed compared to fourth-quarter 2017, but remained active. The market reported 124,936 square feet in positive absorption, lowering the vacancy rate by 50 basis points from year-end 2017 to 15.3 percent. With the continued activity, rent in general industrial, warehouse/distribution, and R&D/flex sectors all increased, driving the overall rent up $0.14 to $4.67 per square foot. Lease rates for the R&D/flex sector had the highest gains, jumping $0.60 to $6.68 per square foot, while the warehouse and general industrial sectors ticked up $0.20 and $0.10, respectively, to $4.98 and $4.26 per square foot.

The Southeastern Pennsylvania market closed the first quarter with 273,109 square feet in occupancy loss. In Philadelphia County, Cardone Industries’ 1.325-million-square-foot distribution center, located at 5501 Whitaker Avenue, was put on the market for sale or lease. That disappointing news was offset by the following new deals: Dependable Distributions moved into 332,640 square feet at 9801 Blue Grass Road and 185,000 square feet at 11200 Roosevelt Boulevard, and Rainbow occupied 365,000 square feet at 2951 Grant Avenue. All things considered, vacancy for the quarter still ticked up 10 basis points to 6.4 percent, which is still considered extremely tight. Eustace Wolfington, NKF senior managing director, had this to say; “Demand in the market for industrial space has intensified and lease rates are among the highest this market has ever seen. The scarcity of available properties is driving prices up, benefitting sellers and landlords.” This quarter, the overall lease rate rose $0.02 to $5.48 per square foot, the highest rate in over ten years. The R&D/Flex rate led the way, rising $0.09 to end at $9.06 per square foot – the highest rate ever posted by that sector.

Vacancy for I-81/78 Corridor warehouse/distribution properties stayed flat in the first quarter of 2018 at 6.8 percent. The market recorded 1.2 million square feet of positive absorption, half of the five-year quarterly average of 2.4 million square feet. Tim Brogan, NKF senior managing director, noted, “Though the e-commerce boom in the warehouse sector continues, land and space to fulfill requirements are becoming scarce. 8.9 million square feet of spaces is currently under construction, while at the same time there are approximately fifteen 1.0 to 1.2 million square foot requirements, plus twelve 500,000 to 800,000 square foot requirements pursuing space in the market.” Along with slowing absorption, land scarcity is also driving up rental rates. The overall rate rose $0.08 to $4.44 per square foot, and all three market sectors experienced positive increases. The largest climb was in the warehouse and distribution and R&D/flex sectors, which both rose $0.11 to end at $4.50 per square foot and $7.68 per square foot, respectively. The $4.50 per square foot rental rate for warehouse properties is the highest since the third quarter of 2007.

About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark”), is one of the world’s leading commercial real estate advisory firms. Newmark has over 4,600 employees in over 120 offices. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. We offer a complete suite of services and products for both owners and occupiers across the entire commercial real estate industry.

Our investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting and, under trademarks and names like Berkeley Point and NKF Capital Markets, government sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Our occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. We enhance these services and products through innovative real estate technology solutions and data analytics designed to enable our clients to increase their efficiency and profits by optimizing their real estate portfolio. We have relationships with many of the world’s largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. For further information, visit www.ngkf.com.

Newmark, which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.

Discussion of Forward-Looking Statements about Newmark

Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.

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Smart Devices Improve Quality of Life for Older Adults Cellucci Tells Lehigh Valley Aging in Place Meeting

Amanda Nardi

Allentown PA –  Speaking to members of Lehigh Valley Aging in Place about the Internet of Things and its impact on virtually every aspect of health care,  Xverity CEO, Joe Cellucci, described the advantages of available smart devices to be placed in the homes of patients discharged from the hospital, older adults who choose to remain in their homes and people who suffer from dementia and Alzheimer’s disease to monitor their health and send alerts when an intervention by a family member, caregiver or clinician is needed.

Cellucci was the speaker at the group’s April meeting held at Luther Crest Senior Living Community.  More than 30 professionals from health care, home care and home health care providers attended the meeting for an update on how technology is enabling a smooth continuation of care for people transitioning from a clinical setting to a home environment.

At the outset of his presentation, Cellucci referenced his own experience with the health care system. “I’m a cancer survivor and an only-child caregiver for my mother before she died. I know first-hand the feelings of anxiety and helplessness when there seems to be no one available to help.  So, being a techy who solves other people’s problems, I thought there had to be a better way,” Cellucci said.  His company, Xverity, Inc., has offices in Ben Franklin’s TechVentures and Fort Washington.

Smart Devices/add 1

Cellucci said that interactive devices such as Amazon’s Alexa are being placed in homes to augment personal care provided by family members and other caregivers.  “Our customers’ users can use Alexa and other smart devices to stay connected to the services they need and the clinicians who treat their illnesses. A physician, nurse practitioner or care manager can access a display of real time data transmitted by sensors to monitor a patient’s compliance with a life care plan that might include taking their medication, eating regularly, exercising and resting.  Feedback on the person’s emotional health can also be displayed, indicating when the person is anxious, afraid, agitated or calm and under control. These devices and the incredibly sophisticated algorithms that produce useable, actionable information are transforming home care and home health care and are putting the patient back in the center of the health care ecosystem, “he said.

Asked about the cost of the new technology, Cellucci said that like most breakthrough technology, the cost has been declining, putting it within reach of the people who need it the most.

About Xverity, Inc. – Founded in 2015, Xverity is a technology-enabled services company specializing in assuring a smooth continuum of care for patients transitioning from a clinical to a home environment.  Xverity’s solutions range from screening and risk stratification protocols to help design a personalized patient Life Plan, practical engagement tools to connect with patients and their families through voice (e.g., Amazon Echo), video, monitoring devices and personalized applications, and an interconnected service provider ecosystem visible to everyone involved in a patient’s care and ongoing wellbeing.  Xverity.com

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Updates for Fairmount Partners

Amanda Nardi

Fairmount is the most active M&A firm based in the Mid-Atlantic, with a national and international practice.  Since 2003, the firm has completed more than 200 transactions throughout North and South America, Europe, Asia and Australia.   Fairmount specializes in advising middle-market companies on sell-side, buy-side and capital placement transactions, and provides fairness opinions and strategic advice in the transaction context.

  • Represented Strata Skin Sciences (Nasdaq: SSKN), a medical technology company focused in dermatology and plastic surgery, in securing $17 million of growth financing from an investor group led by Accelmed Growth Partners, an investment firm focused on value creation for medical device companies and technologies.  The transaction is under contract, pending shareholder approval at a meeting to take place during the quarter ending June 30, 2018.

Team Members News:

  • Matt Carey joined Fairmount Partners as an Analyst.  Prior to joining Fairmount, Matt worked as an analyst for J.P. Morgan in their Private Banking group. In his previous role, Matt helped advise ultra-high net worth families and individuals on investment and portfolio management as well as long-term financial planning. Matt Carey earned his B.A. in Economics, with honors, from the Johns Hopkins University. He is currently a Level III CFA candidate.
  • Peter Born joined Fairmount Partners as a Junior Analyst. Prior to joining Fairmount, Peter worked as an economic research analyst for the Hungarian Delegation in the European Parliament in Brussels, Belgium. There, he conducted a study of the TTIP and TiSA trade agreements and presented his findings to the delegation.  Peter Born earned his B.A. in Political Science with a minor in International Relations from Saint Joseph’s University.
  • Michael Rudderow joined Fairmount Partners as an Analyst.  Prior to joining Fairmount, Michael worked as an analyst with Evergreen Advisors Capital, a boutique investment bank outside of Baltimore.  There, Michael worked on sell-side and buy-side mergers & acquisitions, private placements, and corporate advisory engagements for clients across a variety of industries.  Michael earned his B.B.A. in Finance from The George Washington University.