Greenphire Launches Extension of its ConneX Solution, ConneX Patient Direct, as Trial Sites Seek Support in Response to COVID-19

New service allows clinical trial sites around the world to safely transport medications, equipment, and healthcare professionals to patients’ homes, ensuring needed patient support and enabling clinical trials to continue

KING OF PRUSSIA, Pa.April 8, 2020 /PRNewswire/ — Greenphire, the global leader in financial software for clinical trials, today announced the launch of its ConneX Patient Direct service to enable global clinical trial sites to continue their critical work and patient support in an effort to offset the impact of COVID-19. The new service, which is an extension of Greenphire’s ConneX concierge travel solution for clinical trials, provides “clean transport” for medications, equipment and healthcare professionals to visit patients in their homes, enabling patients to receive much-needed medications and monitoring, and sites and sponsors to continue their trials without disruption.

New FDA and EMA Guidelines for the conduct of clinical trials during COVID-19 pave the way for sponsors to evaluate whether alternative methods for safety assessments could be implemented when necessary and feasible, and would be sufficient to assure the safety of trial participants.

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Accenture Acquires Revolutionary Security, Provider of Cybersecurity Services for Critical Infrastructure

Acquisition enhances Accenture Security’s critical infrastructure protection capabilities to deliver advanced cyber defense management
NEW YORK; April 7, 2020 – Accenture (NYSE: ACN) has acquired Revolutionary Security, a privately held company specializing in enterprise cybersecurity for information technology (IT) and operational technology (OT) environments. Financial terms were not disclosed.

Revolutionary Security’s portfolio of cybersecurity services includes assessment and testing, design and build of security programs and functions as well as security operations across its clients’ IT and OT systems.  Revolutionary Security leverages proprietary technology and methods to help mature the security capabilities of its clients and manage risk. The company’s breach and attack simulation testing service, LiveFire®, utilizes real-world cyber threats to identify gaps in security processes and monitoring, as well as staff operations and technologies. The results help organizations prioritize actions to mitigate cyber risks within their enterprise.

Headquartered in the greater Philadelphia area, Revolutionary Security employs 90 highly skilled cybersecurity professionals throughout the United States. The company, founded in 2016, serves a variety of clients in the energy, manufacturing, healthcare, financial services and communications industries.

“The acquisition of Revolutionary Security is another demonstration of our continued commitment to invest in areas to keep our clients safe from cyber threats,” said Kelly Bissell, who leads Accenture Security globally. “Revolutionary Security’s service offerings are a perfect complement to Accenture’s portfolio, and the acquisition furthers our mission of helping clients better protect and defend their organizations across their entire ecosystem.”

Negotiating Rent Relief with Your Landlord

Over the past ten days, we have spoken with numerous tenants and landlords about the COVID-19 pandemic, its impact on their businesses, and how landlords, their investors and lenders will deal with tenants’ inability to operate, generate cash flow, and pay rent.

In this challenging moment, we have been heartened by the empathy demonstrated by several landlords.  Late last week, a landlord told us:  “Our current position with all tenants that may be affected by a temporary shutdown of business is for them to make rental payments as their cash flow allows. We will not charge late fees or interest on missed payments and will create a payment plan when things stabilize.”   While not all landlords are able to offer this range of concessions, some are.

A property owner will take legal action against a tenant only if that landlord reasonably believes ownership will be better off by doing so.  This is a uniquely harrowing time, and most landlords are rational actors.  Moreover, in light of the consequences to all arising from the COVID-19 break out, landlords realize most tenants are in the same situation — especially because non-essential businesses now are under government order to shut down in many jurisdictions.  Landlords and their investors and lenders now are challenged everywhere to take the longer-term view, and do what they can to ensure their good tenants remain viable . . . and on the rent roll.

Given the foregoing, here are several keys to inform a constructive rent adjustment conversation with your landlord:

  1. Be honest about your situation.  Landlords quickly would be out of business if they grant rent relief to every tenant that wants to lower its rent obligation.  Be prepared to document and explain to the landlord your cash flow situation and why your business will not be able to pay rent or can only pay a specified fraction of your contract rent obligation.
  2. Be precise as to the relief you are asking for.  Are you asking for rent forgiveness, a rent abatement or a deferral of some or all of your rent obligation until things get better? Again, consider tying your request to your specific cash flow situation.  And, consider tying the timeline for relief to lifting of governmental restrictions preventing or impairing your business’s core operations.  Ask the landlord to confirm its plan to improve sanitation, infiltration of fresh air, and undertake other preventive measures to promote building health.  A plan that shares the burden between you and the landlord is going to be more welcome, as they have bills to pay as well.
  3. Articulate your plan for resumption of normal course business operations. Explaining to your landlord why this is a temporary situation is straightforward today given what’s going on in the world, especially if you otherwise have a good history with the landlord of timely paying rent.  Again, most landlords understand that it’s unlikely a new user will be stepping up any time soon to replace you as a tenant.  Your job is to convince the landlord that investing in your business over the coming weeks/months will provide a better, safer return than if they seek to replace you.

Conclusion

We are in unchartered cultural, economic and contractual waters; deals will be cut between landlords and tenants that would not have been considered just a month ago.

It is important to remember that people typically behave in a rational manner.  In most instances, sticking with you – their current tenant – will be the best bet for your landlord.  In approaching your landlord, be honest, respectful of their situation, and creative.  In the end, to paraphrase The Rolling Stones, while you might not get all you want, you may get what you need to muscle through this Coronacrisis.

Tactix Real Estate Advisors, LLC

Ryan Conner ([email protected])

Gary Lozoff ([email protected])

 

Broad Street Angels Closes 2019 with Over $1,500,000 in Investments

The Union League of Philadelphia Affinity Club also launches new website to recruit startups to apply for funding.

(Philadelphia, PA) February 20, 2020 – Broad Street Angels (BSA), an angel investment group in Philadelphia, PA, held its annual meeting at The Union League of Philadelphia on Thursday February 20, 2020 to announce its annual results. BSA invested over $1.5 million in 2019. Members funded 7 new investments and 5 existing portfolio companies.

Read full press release.

Pennsylvania Biotechnology Center’s Inaugural Vendor Expo a Success

DOYLESTOWN, Pa. (February 6, 2020) – The Pennsylvania Biotechnology Center held its first ever Vendor Expo on Thursday, February 6, 2020. Fourteen vendors participated in the lunch time expo with participation from over 100 attendees from the PABC and general public. “WorldWide Life Sciences was pleased to sponsor the PA Biotech vendor expo to pledge our continued support of the Hepatitis B Foundation, Baruch S. Blumberg Institute and all operating companies working within the PA Biotech Center. It is always rewarding to meet the scientists behind the innovation to fight against Hepatitis B, liver disease and liver cancers globally. We value our partnership with the PA Biotech Center and look forward to assisting all scientists and staff in reaching their scientific goals,” said Christopher Conway, president of Wordlwide Life Sciences, Premier Sponsor of the event.

Vendors representing contract research organizations, staffing solutions, diagnostics, analytics and back office solutions attended the two-hour event to share their products and services with the 40+ small to mid-size companies in the PABC and the scientists from the Baruch S. Blumberg Institute, the research arm of the Hepatitis B Foundation.

Read full press release.

13 Ways To Onboard Happy Employees and Increase Retention

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

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

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”

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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