Health

Henry Schein posts leap in net profits

Melville-based Henry Schein reported an 11.3 percent jump in net profits for the third quarter on Wednesday. And that despite an $8.4 million pre-tax restructuring charge. Net profits were $127.7 million, or $1.52 a share, up from $114.8 million ($1.34 a share) in the third quarter of 2014. Sales climbed 2.4 percent to $2.69 billion from $2.62 billion. Excluding the restructuring charges as well as a one-time tax benefit, net profits would have been $130.6 million ($1.55…


Schein acquires Italian dental firm

Another day, another acquisition of a company with annual revenues in the $40 million range. Just one day after announcing the acquisition of a majority share of Pennsylvania-based animal-health software maker Vetstreet, Melville healthcare products distributor Henry Schein Inc. has announced the acquisition of a 90 percent ownership share of Dental Trey, an Italian distributor of dental consumables and equipment. The deal is expected to close by the end of the year, according to Henry…


Henry Schein launches prosthetics partnership

A partnership between a Melville-based medical supplies giant Henry Schein and a foundation focused on an emerging American Dental Association specialty will help usher computer-aided design into dental schools. Schein announced Friday that it will work with the American College of Prosthodontists Education Foundation and donate at least $1.25 million to the American College of Prosthodontists. The gift will help the college develop “a groundbreaking new curriculum” that makes heavy use of computer-aided design and…


Applause for Steven Patrikis’ 3-D Tetra-Hand

By GREGORY ZELLER // NYIT junior Steven Patrikis, on course for a bachelor’s degree in mechanical engineering next fall, already knows what he wants to do professionally, even if he’s not sure what he wants to study in graduate school. Patrikis plans to turn his love of electronics and robotics into a career spent helping others. His focus at the moment: folks missing a hand. Using 3-D printers and other tools inside NYIT-Old Westbury’s Entrepreneurship…


Chembio lands $2.1M grant from Microsoft’s Allen

Medford-based Chembio Diagnostics has been awarded a $2.1 million grant from Microsoft co-founder Paul G. Allen to develop a speedier test for fevers, including Ebola and malaria. The one-year grant, from a $100 million Allen-funded Ebola eradication program, will cover development costs of a one-shot blood test for malaria, dengue, Ebola, Lassa, Marburg and chikungunya. Chembio chief executive John J. Sperzel said the six illnesses are characterized by a high-grade fever and can be fatal when…


The Debrief: Michael Dowling, CEO of what might have been Laudica Health

In healthcare administration, Michael Dowling has done it all. A 20-year veteran of the former North Shore-LIJ Health System, now Northwell Health, he’s been New York’s health and human services director and commissioner of the state’s Department of Social Services. He was a senior vice president at Empire Blue Cross/Blue Shield and even taught social policy at the Fordham University Graduate School of Social Services, where he was an assistant dean. A “young 66” come…


North Shore-LIJ to rebrand as Northwell Health

The North Shore-LIJ Health System made it official Monday, announcing a major rebranding effort that starts with a new name for New York State’s largest employer. As first reported by Innovate LI, the board of trustees of the iconic 21-hospital system is rechristening the system Northwell Health, a moniker that reflects the past and serves as a “beacon of our future,” according to President and CEO Michael Dowling. “It’s unique, simple and approachable,” Dowling said…


Brookhaven completes first phase of cardiac unit

Phase 1 of Brookhaven Memorial Hospital’s $60 million, 60,000-square-foot cardiac-unit expansion is complete, and a gathering of politicos, patrons and patients joined hospital officials this week to mark the milestone. According to hospital board chair Lisa Rose, exterior and interior projects are on schedule and the remodeled, state-of-the-art Knapp Center is on target for its planned May 2016 completion and summer 2016 debut. Keeping the name of the Knapp family, renowned benefactors of the hospital…


Cold Spring, SUNY Old Westbury land prostate cancer funding

Two awards for Long Island-based research organizations are part of a new prostate cancer research funding initiative announced by Gov. Andrew Cuomo. All told, 20 research institutions will share a total of $3 million in funding to explore innovative concepts in prostate cancer detection, diagnosis and treatment. Among them are Cold Spring Harbor Laboratory, which is slated to receive $300,000 over the next two years, and the Research Foundation for SUNY Old Westbury, set to…


A giant step on the road to precision medicine

By GREGORY ZELLER // This is your brain. This is your brain on antipsychotic medications. Any questions? Investigators at the Feinstein Institute for Medical Research, the R&D wing of the North Shore-LIJ Health System, have plenty. Among them: Can doctors use brain scans to predict how patients will respond to antipsychotic medications – even before medications are prescribed? Such predictability would allow providers to fine-tune prescribed meds and doses, a potentially enormous innovation in the…


Insurance plan, acquisitions boost NS-LIJ financials

More patients, the acquisition of two new hospitals and increased revenue from its health-insurance subsidiary helped the North Shore-LIJ Health System record a strong fiscal performance over the first half of 2015. An earnings report issued this week by the Great Neck-based health system notes an operating income of $52.7 million for the six months ending June 30, up from $38.1 million over the first half of 2014. The system’s “Discussion and Analysis of Financial…


State awards research funding to local hospitals

Three Long Island hospitals are among 26 statewide academic medical institutions receiving a total of $17.2 million in state research awards. The awards, announced Thursday, will be used to train new researchers to work on cutting-edge clinical projects. A dozen institutions are receiving Center awards of $1.26 million each, while 14 teaching hospitals will receive Individual awards of $150,000 apiece. North Shore University Hospital in Manhasset is receiving one of the 12 Center Awards, which…


Israel, state officials call for Alzheimer’s initiative

U.S. Rep. Steve Israel and State Assemblyman Charles Lavine joined forces at North Shore-LIJ’s Feinstein R&D center on Tuesday to renew a call to turn the Empire State into a national focal point for Alzheimer’s disease research. Joining the pair: State Sen. David Carlucci, a Democrat from mid-state Clarkstown. The initiative, according to the lawmakers, would mirror California’s approach to stem cell research and that state’s 2004 Stem Cell Research and Cures Act, which among…


With VNS, additional strides in controlling epilepsy

By GREGORY ZELLER // Dr. Ashesh Mehta, head of North Shore-LIJ’s epilepsy care center, performed two surgeries on July 24, one fairly routine, one a bit less so. For now, anyway. Both involved VNS, or electrical stimulation of the vagus nerves, the long bundle of fibers connecting the brain and abdomen. The first replaced the battery in an existing vagus-stimulation device implanted in a 30-year-old woman. As surgical procedures go, pure housekeeping, Mehta noted. “After…


Debrief: John Boockvar, Feinstein Institute

John Boockvar has a lot on his mind, most of it regarding your mind. The co-director of the Feinstein Institute’s Brain Tumor Biotech Center is also an investigator in Feinstein’s Laboratory for Brain Tumor and Biology, director of Lenox Hill Hospital’s Brain Tumor Center, director of the Center for Pituitary Surgery and the Acoustic Neuroma Program at the New York Head & Neck Institute and, because he’s swimming in free time, a neurosurgery professor at…