News in brief
The Port Chester Industrial Development Agency recently closed on a renovations project at the village”™s landmark Capitol Theater that when completed will create an estimated 58 full-time and part-time jobs.
The IDA inked an agreement with Capitol Enterprises Inc. to undertake extensive renovations to the 1,835-seat theater at 149 Westchester Ave. The company was granted exemptions on sales and use taxes, estimated at about $110,000, for purchases of construction materials and for equipment leases.
The theater, built in 1926, is expected to reopen by mid to late summer.
“As a natural destination facility within the village, the Capitol Theater will serve as an anchor for downtown redevelopment and economic multiplier for our growing retail and entertainment businesses,” Port Chester Mayor Dennis Pilla, who also serves on the seven-member IDA board, said in a press release.
Physician group, insurer collaborate on care
Purchase-based WESTMED Medical Group is launching an accountable care organization for its more than 220 physicians in Westchester County in collaboration with the UnitedHealthcare and Optum businesses of UnitedHealth Group.
Physicians in the multispecialty group practice will be measured and rewarded with incentive bonuses based on quality health outcomes, patient satisfaction and reduction of medical costs in the Westchester market to below current, trend-adjusted levels. Doctors will use Optum”™s analytical tools to help identify best practices for overall patient wellness and disease management and to measure their own performance in those areas over time.
Dr. Simeon Schwartz, WESTMED president and CEO, in a press release said the partnership with the UnitedHealth Group businesses “is the next step in our evolution to provide best-in-class care to our patients, reduce total medical costs and increase patient satisfaction across the region.”
UnitedHealth Group is working nationwide with physician groups, hospitals and medical centers and other health care delivery organizations to achieve the “Triple Aim” objective of the Institute for Healthcare Improvement: improving population health and patient experience, delivering the best possible quality outcomes and reducing the overall cost of care.
Hostile bidder seeks board seats
Genomma Lab Internacional, the Mexican health care products giant whose hostile bid was rejected by Prestige Brands Holdings Inc. of Irvington, has notified Prestige that it will nominate a slate of five candidates for election to Prestige”™s board at its annual meeting on June 29, where it will also present a proposal for shareholder action, Genomma said in a statement.
“Though it remains our strong preference to enter into a negotiated transaction with Prestige,” Genomma said, “we are committed to pursuing a combination of our two companies.”
Genomma also said it would seek to repeal any new by-laws or amendments to Prestige”™s by-laws after Sept. 2, 2009.
On Feb. 21, Genomma announced its $16.60-a-share bid for Prestige. Six days later Prestige adopted a “poison pill” takeover defense, and formally rejected Genomma”™s offer on March 12.
Yogurt franchise opens
Red Mango, the frozen yogurt and smoothies chain that opened in Larchmont in 2010, has opened in Rye Brook in the Rye Ridge Shopping Center.
Red Mango, based in Dallas, has 150 stores across the country. It started in Los Angeles in 2007. Zagat named it the top-rated chain in the U.S. for smoothies and frozen yogurt.
New Rochelle resident Brandy Benson, who opened the Larchmont store, also owns the Rye Ridge franchise. She said the Rye Ridge store will offer 10 basic flavors as well as a rotating selection of flavors like Ghirardelli chocolate, pomegranate, white peach, Caribbean coconut and strawberry milkshake.
John Golden and Janice Kirkel