Chester County Daily News Business Briefs

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Your Daily Briefing: Fox Rothschild lawyer says Philadelphia is in a good position for tech growth, Historical Society expands South Asia Collection and more.

Philadelphia’s Tech Scene Well Positioned

Micheal Harrington is a partner at Fox Rothschild.
Michael Harrington is a partner at Fox Rothschild.

Philadelphia’s tech community is getting a welcome boost, thanks to recent Merger and Acquisition activity, as well as more options to take technology companies public. The situation is helped by a relatively new trend of buying companies and fueling them to grow as they are and where they are, instead of relocating the team that built it to the buyer’s headquarters.

Programs like DreamIt and PSL, as well as initiatives from the University City Science Center and Ben Franklin Technology Partners of Southeastern Pennsylvania, have also helped foster more tech company growth.

Michael Harrington, Partner at Fox Rothschild in Exton, PA, commented “We saw multimillion and billion dollar acquisitions from tech companies last year. What that has done regionally and for the middle-market, growth-stage companies, has gotten people more positive about an exit. What I’m seeing and what many of us are talking about is 2015 should be a good year that prompts smaller companies to sell.”

102814CCHSChester County Historical Society to Expand its South Asia Collection

Thanks to generous funding to the Dr. Mian Jan Fellowship, Chester County Historical Society (CCHS) will now be able to expand its South Asian culture permanent collection.

The increase in the collection will help CCHS share the diversity of the people who live in this county It should also open the door for the use of oral history interviews and increased scanning of genealogical information and photographs.

All of the new information will get stored in CCHS’s archives in perpetuity, for use by researchers and possibly for exhibitions. Sarah Aldman, an experienced documentarian with CCHS, will be recording the oral histories from participants in the project. For more information on the project click here

RecroPharma Receives Positive Analyst Ratings

5.20.2014 Recro PharmaRecroPharma, the clinical-stage specialty pharmaceutical company, has been given an average broker rating score of 1.00, signifying a strong buy according to Zacks Investment Research.

The share price has been surging over the last four weeks increasing almost 70% although it slipped back slightly on Wednesday to close at $12.33. The 12-month consensus target price for RecroPharma is also up and the stock is now predicted to reach $28 within a year.

RecroPharma develops non-opioid therapeutics for the treatment of pain. Its last quarterly earnings report was on May 13, with negative earnings per share (EPS) of $-0.53 for the quarter, one cent below the consensus estimate of $-0.52. Analysts predict RecroPharma will post negative EPS of $-1.56 for the current fiscal year, but that is not dampening both analyst and investor enthusiasm for the stock.

Daily NewsPaoli Hospital Receives Lifeline Quality Achievement Award

Paoli Hospital, located about 15 miles outside the western city limits of Philadelphia, has been awarded the Silver Mission: Lifeline Quality Achievement Award. It was recognized for implementing quality improvement measures outlined by the American Heart Association (AHA) for the treatment of patients who suffer severe heart attacks.

The AHA’s Mission Lifeline program’s goal is to reduce system barriers to ensure quick effective treatment for heart attacks that begin from the initial 9-1-1 call and continue seamlessly through the hospital treatment.

Dr. Steven LaPorte, Chief of Cardiology at Paoli Hospital, said after receiving the award, “We are pleased to be recognized for our dedication and achievements in cardiac care, and I am very proud of our team.” The hospital, which recently celebrated its 100th anniversary, is part of Main Line Health and the Lankenau Heart Institute.

 

 

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