Business Digest

BUSINESS DIGEST

December 08, 2007|By This column was compiled from dispatches by Sun reporters.

Maryland : Personnel

ConnectYourCare CEO leaving at year's end

Terry Hunter, who became chief executive officer of ConnectYourCare in 2003 and sold the company twice, said yesterday that he is leaving at the end of the year. The Hunt Valley company, which has about 50 employees, manages health plans linked to tax-sheltered savings accounts. The privately held company was sold to Revolution Health in 2005, then resold in October to ExpressScripts. ExpressScripts named J. Marc Palmer CEO of ConnectYourCare and vice president of strategic planning and development for the parent company. Hunter became executive vice president for strategic business development of ConnectYourCare before announcing his departure.

M. William Salganik

Courts

Satisky-case trustees denied secret hearing

U.S. Bankruptcy Judge Nancy V. Alquist yesterday denied a secret hearing requested by independent trustees in the case of Brian Satisky and his now-defunct A&B Check Cashing, which has been accused in a $17 million check-kiting fraud. The trustees, tasked with tracking down assets for A&B creditors, asked for a private meeting to discuss actions that could be taken and to keep related documents under seal. Alquist ruled that she would instead review the documents herself to make a determination.

Laura Smitherman

Pharmaceuticals

Osiris gets fast-track status for new drug

Osiris Therapeutics of Columbia said yesterday that it has received fast-track designation from the federal Food and Drug Administration for development of Procrymal to treat acute Graft versus Host Disease. Granted for drugs that are promising treatments for serious diseases for which there is no alternative therapy, fast track speeds the FDA review process. GvHD, in which the body attacks something that has been transplanted into it, affects about half of the 8,000 bone marrow transplants in the country each year.

M. William Salganik

This column was compiled from dispatches by Sun reporters.

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