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Joint Venture

BUSINESS
January 24, 2005 | By Josh Goldstein INQUIRER STAFF WRITER
After having one potential buyer drop out several months ago, Chestnut Hill HealthCare has reached a deal to be acquired by a for-profit joint venture. Under the deal, the small, independent health system anchored by Chestnut Hill Hospital in northwestern Philadelphia would be bought by the joint venture formed by Community Health Systems Inc., of Brentwood, Tenn., and the University of Pennsylvania Health System for $25 million. The sale of Chestnut Hill, which must be approved by Philadelphia Orphans' Court and the Pennsylvania attorney general, is expected to be completed in March.
BUSINESS
May 4, 1994 | By Donna Shaw, INQUIRER STAFF WRITER Inquirer staff writer Rich Henson and Reuters contributed to this article
Eastman Kodak Co. yesterday confirmed the rumors: Its pharmaceutical and health-products subsidiary, Sterling Winthrop Inc., is for sale. The announcement raises the possibility that the European operations of Sterling Winthrop, whose American research headquarters is in Montgomery County, could end up with the same French owners as the former Pennwalt Corp., now Elf Atochem North America Inc., in Center City. A German suitor for Sterling Winthrop also came into the picture.
BUSINESS
November 22, 1994 | By Gail Shister, INQUIRER TELEVISION COLUMNIST
The dance is over, and Channel 10 is going home with NBC. Come next fall, Philadelphia channel surfers will find Seinfeld, Blossom and the Today show on Channel 10 (WCAU). Murphy Brown, 60 Minutes and Dr. Quinn, Medicine Woman will be on Channel 3 (KYW). Jay Leno and David Letterman will play musical channels, too. As part of a wide-ranging agreement announced yesterday, NBC and CBS will swap the stations they own in Philadelphia, the country's fourth-largest TV market, and Denver, the 21st.
BUSINESS
July 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The chief operating officer of Philadelphia Energy Solutions Inc. resigned quietly in April, only 13 months after he was brought in to run the sprawling former Sunoco refinery in South Philadelphia, a filing with the U.S. Securities and Exchange Commission reveals. The company did not disclose in the filing this month the reason for David M. Ritter's termination as executive vice president. Ritter, in a telephone interview Wednesday, said he resigned for "personal reasons. " Chief executive officer Philip L. Rinaldi said Ritter departed on "friendly terms.
NEWS
August 28, 2015 | By Jacob Adelman, Inquirer Staff Writer
LaSalle Investment Management has purchased the newly constructed AQ Rittenhouse apartment building in Center City for $51.1 million, according to Newmark Grubb Knight Frank, which brokered the sale. The Chicago-based investment manager bought the 110-unit high-rise at 2021 Chestnut St. from a joint venture between Aquinas Realty Partners and MB1 Capital Partners, NGKF said in a statement on Wednesday. jadelman@phillynews.com 215-854-2615 @jacobadelman  
NEWS
November 5, 2015 | By Jacob Adelman, Inquirer Staff Writer
An investment fund operated by New York's Square Mile Capital Management has originated a $26.8 million mortgage loan for the Penrose Plaza shopping center in Southwest Philadelphia, the company said in a release on Tuesday. Square Mile Capital Partners is funding the center's recent acquisition and planned capital expenditures by a joint venture of Onyx Properties, Abrams Realty & Development, and Siguler Guff. The 261,000-square-foot property at 2900-3000 Island Ave. is anchored by a ShopRite supermarket.
NEWS
February 20, 2016 | By Harold Brubaker, STAFF WRITER
Inspira Health Network filed a state layoff notice affecting 105 home-care and hospice employees as it prepares for a joint venture with Bayada Home Health Care covering Cumerland, Gloucester, and Salem Counties. Inspira spokesman Greg Potter said Thursday that the Inspira employees would be interviewed for Bayada jobs, but "there may be some who don't fit into the joint venture. " Potter said that the tax-exempt Inspira, which is in the midst of planning a new hospital near Rowan University, would attempt to find jobs within the Inspira network for those not hired by Bayada.
BUSINESS
July 2, 2012 | By Andrew Maykuth and INQUIRER STAFF WRITER
Updated 5:06 p.m. Sunoco Inc.'s Philadelphia refinery, which was threatened with closure at the end of this month, will be reborn as an "energy hub. " The Carlyle Group, a Washington, D.C., private-equity manager, announced plans Monday to operate the refinery with Sunoco as a joint venture called Philadelphia Energy Solutions. The venture will save 850 jobs at the refinery, the largest fuel-production plant in the northeastern United States, and may employ hundreds more if plans to expand production are realized.
BUSINESS
December 2, 2015 | By David Sell, Inquirer Staff Writer
Hoping to better weave through the complexities of Japan's changing health-care marketplace and sell more generic drugs, Teva Pharmaceutical Industries Ltd. said Monday that it was forming a joint venture with Takeda Pharmaceutical Co. Ltd. The new company seeks to marry Teva's strong portfolio with the Japanese firm's sales force. Teva will hold a 51 percent interest in the joint venture, with Takeda holding a 49 percent share, the companies said. In a November report, IMS Health predicted that drug spending in Japan, the world's third-largest market behind the United States and China, will increase from 3 percent to 4 percent over the next five years.
NEWS
September 7, 2011
Consol Energy Inc. announced Wednesday that it is entering into a joint venture with Hess Corp. to explore and develop Consol's 200,000 acres of Utica Shale in Ohio for natural gas. Consol will receive consideration of $593 million. The deal is the second big shale-gas transaction that Consol has announced in recent weeks. In August, the Canonsburg, Pa., company - best known as a coal producer - announced a $3.4 billion joint venture with Noble Energy Inc. to develop about 663,500 acres of Marcellus Shale leases in Pennsylvania and Ohio.
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