PhyMatrix changes name to Innovative Clinical Solutions, Ltd.
PROVIDENCE – PhyMatrix Corp. (Nasdaq: PHMX) has changed its name to Innovative Clinical Solutions, Ltd (Nasdaq: ICSL), effective today (June 28). The name change reflects the repositioning of the company along three primary business lines; ICSL Clinical Studies, which includes clinical research, ICSL Healthcare Research, which includes outcomes research services, disease management programs and post-marketing support programs and ICSL Network Management, which includes provider network services.
PhyMatrix Corp. provides services that support the needs of the pharmaceutical and managed care industries. The company integrates its pharmaceutical services division with its provider network management division to create innovative solutions for customers.
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The company’s services include clinical and economic research and disease management, as well as managed care functions. Its components include Clinical Studies, Ltd., a wholly owned subsidiary which operates dedicated, multi-therapeutic phase I-IV research facilities, and its provider network management division which manages over 9,000 physicians in networks located across the country. By integrating these divisions, the company is able to provide a broad range of pre- and post-FDA approval services designed to expedite new pharmaceutical product approval and market acceptance.
Michael Heffernan, president and co-chief executive officer of the newly named company, explained the name change: “The name Innovative Clinical Solutions more accurately describes the company structure and mission to accelerate health are solutions by uniquely integrating clinical research with healthcare management. We recognize the critical importance and have developed the proper infrastructure that supports our strategy of leveraging core competencies in order to service the needs of pharmaceutical and managed care companies.”
The name change does not require current stockholders to surrender stock certificates. All new certificates issued will bear the Innovative Clinical Solutions, Ltd. name.
WCVB-TV to launch Internet shopping mall
BOSTON – WCVB-TV in Boston is about to launch a groundbreaking Internet shopping mall.
With competition among retailers and business-to-business marketers in New England getting tougher, e-commerce has emerged as one of the most promising new sales outlets. WCVB-TV Channel 5 has teamed up with New England Marketplace, Inc. to create an electronic shopping destination specifically for the people and products of the New England region.
The idea behind the project is to harness the popularity and speed of the Internet to the power of WCVB on-air promotion.
The result, www.wcvb.com, New-EnglandMarketplace.com should be up and running next week and will feature up to 1,000 of the area’s favorite companies in 10 business districts, such as “apparel & accessories” and “health & fitness.” Business districts will list 10 distinct “marketplaces” under each heading. “Apparel & accessories,” for example, will include a marketplace for each for each of the following categories, for a total of 100 premier marketplaces in all: men’s apparel, women’s apparel, children & teens, footwear, jewelry, eye wear, bridal & formal wear, department stores, uniform & career apparel, luggage, handbags & leather goods and intimate apparel. Every marketplace will be limited to 10 vendors.
Numbers suggest that the Channel 5 website is among the most popular in the region, and possibly, the country. The site logs between 12 and 15 million hits per month. That figure represents continuous growth at 20 percent every year since the launch of www.wcvb.com in 1995.
“NewEnglandMarketplace.com gives merchants who are committed to an e-commerce strategy premium real estate in one of the most extensive and aggressively promoted e-commerce centers in New England,” said Channel 5 General Sales Manager Andrew Hoffman. “It presents the opportunity for shoppers to browse stores outside of their usual preferences. And certainly, the most unique element is the power of Channel 5’s year-round on-air promotion to drive viewers to the site.”
Each merchant of New-EnglandMarketplace.com will contract for a minimum three-month lease on the site. As the launch date of the weekend of July 4 approaches, major retailers such as Eastern Mountain Sports and J. Crew have already committed to occupancy.
