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Collection Associates LLC, a portfolio company of LaSalle Capital Group, has acquired Money Recovery Nationwide, a Landsing, Mich.-based provider of debt collection services to the healthcare industry. No financial terms were disclosed.

PRESS RELEASE

LaSalle Capital Group, L.P.’s (”LaSalle Capital”) portfolio company Collection Associates, LLC (”CAI”) is pleased to announce the acquisition of Money Recovery Nationwide (”MRN”).

MRN, headquartered in Lansing, Michigan provides debt collection services to the healthcare industry. MRN has been active in the industry dating back to 1988, and is regarded as a premier provider of third-party collections for hospitals and physician groups in the state of Michigan.

MRN is the fourth collection agency purchased by CAI, and represents a significant addition to CAI’s Midwestern focused strategy. “Alan Jacoby and his team have built one of the most important agencies in Michigan. Their broad reach throughout the state increases our geographic footprint substantially and firmly establishes our combined organization as the premier Midwest-based healthcare accounts receivable management business.” stated Rocco Martino, a Partner at LaSalle Capital. Mark Schabel, CEO of CAI added, “MRN will be an outstanding addition to our portfolio of agencies, and we are excited that Alan Jacoby and Gary Ferdig are going to continue on as part of the management team to take the organization to a new level.”

Alan Jacoby stated, “Our acquisition by CAI will allow us to deploy new product offerings and leading technology to best serve our clients in this tough economic environment. I am excited about the business combination and think that this will expand our ability to serve the needs of the Michigan market.”

If you have questions on this Company or would like to discuss other opportunities in the healthcare collections industry, please contact either Rocco Martino or Nick Christopher at LaSalle Capital.

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House Speaker Nancy Pelosi Thursday morning unveiled a House health care reform plan that is expected to cost about $894 billion and “provide insurance to up to 36 million people by broadly expanding Medicaid, the state-federal insurance program for the poor, and by offering subsidies to moderate-income Americans to buy insurance either from private carriers or a new government-run plan,” the The New York Times reports. “According to the Congressional Budget Office, the bill would reduce future federal deficits by about $30 million over the next 10 years.”

The House measure is similar to a proposal being considered in the Senate. “But there are crucial differences,” according to the Times. “The House bill, for instance, would impose a new income surtax on individuals earning more than $500,000 and couples earning more than $1 million – a so-called millionaire’s tax. The Senate would impose a tax on high-cost insurance policies, a move that experts say could help lower long-term health care costs by giving employers, employees and private insurers incentive to reduce expenditures” (Herszenhorn, 10/29). 

Kaiser Health News provides the bill language.

CNN: “The bill guarantees that 96 percent of Americans have coverage, Pelosi’s office said. The figure is based on an analysis by the nonpartisan Congressional Budget Office. … Under the House plan, health care providers would be allowed to negotiate reimbursement rates with the federal government, according to Democratic leadership aides.” Throughout the development of this legislation, Pelosi and other liberal Democrats “had argued for a more ‘robust’ public option that ties reimbursement rates for providers and hospitals to Medicare rates plus a 5 percent increase. Several Democrats representing rural areas, however, complained that doctors and hospitals in their districts would be shortchanged under such a formula” (Oct. 29).

The Washington Post: “The bill includes a version of the ‘public option’ preferred by moderates and raises Medicaid eligibility levels to 150 percent of the federal poverty level for all adults, a steeper increase than in earlier drafts.” In describing the bill, which Pelosi said would insure 36 million more Americans, Pelosi noted that “‘[t]oday we are about to deliver on the promise of making affordable, quality health care available for all Americans,’ Pelosi said, describing a bill that she said . ‘…We are putting forth a bill that reflects our best values and addresses our greatest challenges.’” The bill seeks “to provide health insurance of one form or another to 96 percent of all Americans at an expected cost just below $900 billion over 10 years, without increasing the federal budget deficit for at least 20 years, House Democrats said. ‘It opens the doors to quality medical care for those who were shut out of the system for far too long,’ Pelosi said” (Murray, 10/29).

The Associated Press: “The ceremony marked a pivotal moment in Democrats’ yearlong attempt to answer Obama’s call for legislation to remake the nation’s health care system by extending insurance, ending industry practices such as denying coverage on the basis of pre-existing medical conditions, and slowing the growth of medical spending nationwide.” A vote on the measure is likely next week (Werner, 10/29).

Renewable Funding, an Oakland-based financier of property-assessed clean energy (PACE) programs, has raised $12.2 million in Series A funding. NGEN Partners and Draper Fisher Jurvetson co-led thye round, and were joined by New Cycle Capital and law firm Wilson Sonsini.

PRESS RELEASE

Renewable Funding, the nation’s leading financier of Property Assessed Clean Energy (PACE) programs, today announced the close of a $12.2 million Series A round of financing. The investment was led by NGEN Partners LLC and Draper Fisher Jurvetson. Other investors included New Cycle Capital, a San Francisco based venture fund focused on businesses that can change the world, and the Wilson Sonsini law firm, which also serves as counsel to the company.

The infusion of capital will accelerate Renewable Funding’s expansion of PACE financing programs throughout the United States. PACE allows private property owners to pay for energy efficiency and renewable energy projects through an addition to their property tax bill. Over the past twelve months, legislation enabling PACE programs has been adopted in 14 states. Renewable Funding developed the PACE model with the City of Berkeley, and is now working with cities, counties and states around the country in the development, administration, and financing of these programs.

“Renewable Funding developed the PACE financing model to address climate change and help families and businesses save money,” said Cisco DeVries, President of Renewable Funding. “With this infusion of capital, we have additional resources to accelerate the rollout of clean energy funding programs and respond to the growing demand for PACE financing.”

The funding comes on the heels of an announcement by Vice President Biden that PACE programs will be a key component of the nation’s “Recovery Through Retrofit” effort to reduce greenhouse gas emissions and provide an engine for green job growth. The Clinton Global Initiative recently called for a rapid expansion of PACE programs to 50 municipalities around the country.

About Renewable Funding (www.renewfund.com)
Renewable Funding is the nations’ leader in providing financing and administration for property assessed solar and energy efficiency improvements. A UC Berkeley study published earlier this year in Environment Magazine found the potential for $280 billion in financing for PACE-type programs and reduction of up to a gigaton of greenhouse gas emissions as PACE programs expand nationally.

About NGEN (www.ngenpartners.com)
NGEN Partners LLC provides enterprising capital for clean technology companies. Founded in 2001, NGEN is a pioneering investor in the cleantech sector, investing in companies that offer products and services that positively affect the environment. NGEN has deep expertise in alternative energy, energy efficiency, pollution abatement and green resources.

About Draper Fisher Jurvetson (www.dfj.com)
Draper Fisher Jurvetson (”DFJ”) backs extraordinary entrepreneurs who set out to change the world. DFJ achieves its mission through the DFJ Global Network of Partner Funds, managing over $6 Billion on four continents. Over the past twenty years, DFJ and its Network have invested in more than 500 companies.

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You know if a given country, in this case Japan, is over-saturated with gadgets when you see stuff like this: A remote-controlled tissue box [JP]. I mean who doesn’t know the trouble you go through when you want to wipe your nose and that damn tissue box is like 3 feet away again?

But here’s some help. The so-called Running Tissue Box has a maximum range of 8m for the radio signal. It’s sized at 250×65×123mm and is available in white, red and black.

The thing costs about $25. If you really want to have one and live outside Japan (the only place in the world where they sell it), ask the Japan Trend Shop, Geek Stuff 4 U or Rinkya to ship one to you.

Here’s how the box moves (I know it’s silly):

I actually like this idea. Kohjinsha recently showed off its dual-display 10-inch netbook, which runs Windows 7 atop an AMD Athlon NeoMV-40 CPU at 1.6GHz. The machine can be used as a netbook with a standard 10-inch display (it’s a swivel, screen) or a second 10-inch display can be slid out from behind the first to be used together for double the desktop real estate.

There’s no firm release date or pricing, except to say that the company wants to launch the product by the end of the year with a target price of less than 100,000 Yen. That’s around $1100 US, which is far more than most people would be willing to pay for a netbook – two screens or not – but the idea’s there. We likely won’t see it here anyway, although certain Kohjinsha products can usually be ordered through various online import shops.

[via NetbookNews.de (translated)]

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Equifax Inc. (NYSE:EFX) has acquired IXI Corp., a McLean, Va.-based provider of consumer wealth and asset data, for $124 million in cash. IXI raised just over $9 million in 2004 and 2005, from Blue Chip Venture Co., Core Capital Partners, eCentury Capital Partners and Equifax.

PRESS RELEASE

Core Capital Partners, a leading venture capital firm that invests in high-growth technology companies, today announced that Equifax Inc. (NYSE:EFX) acquired data analytics provider, IXI Corporation, the market leader in delivering consumer wealth and asset data and the only company to directly measure wealth. Equifax paid $124 million in cash for the company, which just made Deloitte’s 2009 Technology Fast 500 list.

With its proprietary measures of wealth, assets, income, spending and other data, IXI helps its clients – who include the nation’s leading banks, brokerage firms, and insurance companies – better segment households, resulting in improved marketing and customer management. IXI’s data, sourced through more than 95 banks, brokerages and other entities, is the most comprehensive database of invested and deposited consumer wealth in the country. IXI data represents more than $10 trillion in U.S. consumer assets or 42 percent of all U.S. consumer invested assets.

“We initially invested in IXI because we saw tremendous value in blending the nation’s best wealth information dataset with cutting-edge software into unique, high margin offerings,” said Will Dunbar, managing director of Core Capital Partners. “IXI provides relevant data while allowing companies to tie back to assets already under management and quantify growth opportunities. We believed this technology would be extremely attractive to a company such as Equifax, which is why we have supported the company and its management team early on.”

Core Capital Partners provided some of IXI’s earliest financing by participating in a 2004 $2 million round of financing. Early on, the firm saw the potential in marrying the company’s unique data analytics capabilities with a larger, more experienced company such as Equifax.

“Core has been a tremendous partner, helping us become a true market leader and guiding us in establishing partnerships that led to this acquisition,” said IXI’s President and Chief Executive Officer Tom Dailey. “Today, IXI counts among its client base over 100 of the Fortune 500 and all three major credit card companies. More importantly, as we’ve navigated that growth path, Will Dunbar has provided invaluable board-level leadership.”

The IXI acquisition will enable Equifax to enhance the caliber and breadth of intelligence and data offered while also improving clients’ opportunities for acquiring, expanding and retaining customers.

 

About Core Capital Partners

Core Capital is a leading venture capital firm headquartered in downtown Washington, D.C. With approximately $350 million under management, Core invests in early-stage information technology and communications infrastructure, application software, and technology-enabled services companies led by seasoned entrepreneurs. Core’s partners have been active investors for over 23 years and provide exceptional insight into government purchasing and policy.

Since its formation in 1999, Core has created in excess of $1.5 billion in enterprise value through the initial public offerings and mergers and acquisition exits of its companies. Representative investments include Sourcefire (NASDAQ: FIRE), SwapDrive (acquired by Symantec), IXI Corporation (acquired by Equifax), SilverStorm (acquired by QLogic), Roundbox, Twisted Pair Solutions, and Infinite Power Solutions. To learn more, please visit www.core-capital.com.

About Equifax Inc.

Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.

With a strong heritage of innovation and leadership, Equifax continuously delivers innovative solutions with the highest integrity and reliability. Businesses – large and small – rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.

Headquartered in Atlanta, Georgia, Equifax Inc. operates in the U.S. and 14 other countries throughout North America, Latin America and Europe. Equifax is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.

About IXI Corporation

For over 15 years, IXI has helped the nation’s leading financial services and consumer marketing firms optimize marketing efforts, manage risk, identify growth markets, and enhance practice and performance management. IXI’s analytics solutions enable marketing, sales, and risk management executives to differentiate and target consumer households based on measures of wealth, income, spending, credit, investment style, share-of-wallet, and share-of-market.

Through its exclusive network of more than 95 leading U.S. financial institutions, IXI directly measures approximately $10 trillion in U.S. consumer assets and investments, comprising over 42% of all U.S. invested assets. IXI combines its patented process for collecting and classifying consumer asset data with proprietary measures of income, spending, and credit, to create the most reliable and granular financial database available today. Using this unrivalled database, IXI builds solutions that provide firms financial and economic insight for every U.S. household.

IXI is a privately held company headquartered in McLean, Virginia. It was recently named to the Deloitte Technology Fast 500 list.

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After months of leaks, teasing and previews, yesterday was the first day that Verizon Wireless started selling the BlackBerry Storm2. Available on a 2-year contract for $179.99 after rebates (or $539.00 contract free), the Storm2 intentionally regrettably has been released on the very same day both Verizon and Motorola took the wraps off of the DROID. Verizon and RIM were at least kind enough to include it in their latest BOGO campaign, though. Sure, the BOGO sale lets you get other devices like the Tour and MiFi 2200, but let’s be honest here — people are going to be picking up a second Storm2 and putting it on eBay post-haste. So what say you, “Storm chasers”? Are you going to be pursuing this weather system or sitting it out?

Read

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Remember GateHouse Media? The regional news company sued the NY Times for linking to it, claiming it was copyright infringement to include the headline and a brief snippet along with the link (you know, like Google…). Amusingly, it turned out that GateHouse Media was doing the same thing. Eventually the two companies settled, and apparently that’s convinced GateHouse Media that complaining about such links is a good idea.

Via CitMediaLaw we found out that GateHouse Media has sent a cease & desist letter to an online forum, claiming not just that its stories are covered by copyright, but that its headlines and ledes.

We wish to advise you that the stories, headlines and/or ledes that you are copying are the copyrighted property of GateHouse Media… and that your copying constitutes infringement of GateHouse’s rights under U.S. Copyright law. This infringement is not excused by links to the original stories or by indicating the name of the publication in which the content originated.

Of course, it’s not clear that copyright law actually agrees with that. And, even if GateHouse is correct, this makes no sense whatsoever. It’s not as if people reading the Masscops forums are doing so as a substitute for some GateHouse Media news sites. If anything, Masscops is sending traffic to them, and helping new readers discover GateHouse’s sites. What sort of company turns down links and traffic? Not one that’s long for this world…

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Jeezum crow! This guy has made a fully functional (kind of) Proton Pack from Ghostbusters including a trap, ecto goggles, and some coveralls. He added a few lights controlled by an Arduino board.

The best part? He added lasers to the blasters. Now he just needs to remember not to cross the beams and that your halloween party can be a promotional expense so you should invite clients instead of friends.

The instructions are, obviously, at Instructables.

Reader Anthony Le sent in his entry for the costume contest and I just had to share it with you guys. It’s an amazing replica of the Iron Man XD suit made of plastic and rivets. Anthony even goes to his local Children’s Hospital in it to cheer up the kids. Anthony is a truly geek who inspires awe.

I based the build from this picture from comic-con. The Costume is 100% home made, the build took approximately 2 weeks and 5 days. I’m a very busy person as well! Over 700+ rivets and rivet washer used. All items on the costume are 100% made from scratch. I’ve lso taken this costume to the children’s hospital to give them a sense of joy to know that a hero has come to wishes them a happy Halloween.

build materials
-High impact urethane plastic
-700+ rivets and washer used
-heat gun
-hot glue gun
-boat load of hot glue sticks
-Open flip helmet “like Ironman movie”
-lighted chest R-T and replusor gloves “like the movie”
-flexible abdominal area, and join covers.
-voice changer in helmet “when spoken into, makes me sound like a robot”

“Democratic Senators in favor of including a public insurance option in health care reform expect resistant moderates … to come around once they see the details of the final legislation,” Roll Call reports. Centrists such as Sen. Joe Lieberman, I-Conn., have suggested that they may not support reform with a public option. “Senate Democratic Conference Vice Chairman Charles Schumer (N.Y.) said Wednesday that moderates are likely to climb on board once they read the final bill” (Drucker, 10/28).

ABC News: “When majority leader [Harry] Reid put the controversial ‘public option’ back on the table this week, he did so confident that Lieberman, short of outright supporting it, would at least allow it to pass. [But] Lieberman dropped a bombshell when [he] announced he would not vote” to move forward on a health reform bill that includes a government-run health plan (Schutzman, 10/28).

CBS News: Meanwhile, “Sen. Evan Bayh, a moderate Democrat from Indiana, said Wednesday that he may not be able to support a motion to proceed with the health care debate on the Senate floor, depending on what is included in the bill Senate Majority Leader Harry Reid (D-Nev.) brings forward.” Bayh said he was “less focused” on the public option, but was worried “a couple elements” in the bill could raise premiums for families with insurance (Condon, 10/28).

Chicago Tribune: Democratic leaders are also creating some friction on the left. The White House recently dispatched health care adviser Nancy-Ann DeParle to meet with Sen. Roland Burris of Illinois. “It signals that the White House is not taking for granted the support of Burris” for the health-reform bill. He has called for an even broader government-run plan than Senate Democratic leaders offered (Skiba, 10/29).

The International Atomic Energy Agency (IAEA) and the JRC’s Institute for Energy (IE) strengthened their ongoing collaboration yesterday with the official signing of a ‘Practical Arrangement’ which will allow both partners to further develop scientific and technical co-operation in the fields of nuclear safety, nuclear technology and energy planning issues.

In practical terms this will result in increased support of JRC-IE to the IAEA, enhanced co-operation and co-ordination of their mutual activities in the field of energy policy support.

Kaiser Health News offers a fresh look at health policy developments with David Fitzsimmons’ “Vampire Bat.”

Kaiser Health News staff writer Julie Appleby reports on how the fine print of the Senate Finance Committee’s health bill could impact some lower- and middle-class consumers. Proponents of the measure “say the legislation will limit the amount that lower- and middle-income people must pay for health insurance to a maximum of 12 percent of their incomes. But there’s a catch: The fine print shows that, over time, the premium costs could rise well beyond those caps. That’s because the cost of coverage would shift from a percentage of income to a percentage of the premium, no matter how high the premiums go” (10/29). Read entire story.

In less than 72 hours, the GreenGov Challenge will come to a close – so if you’re a federal employee or one of our brave men and women in uniform, you don’t have much time left to share your clean energy ideas and vote for your favorites.  To lead the Challenge out with a bang, Vice President Joe Biden recorded this special message just for you.  Take a look:

As the Vice President says, “We’re counting on you to help us meet our goals, to help us set the right example, and to help us make our government as clean and green as possible.“ Take the GreenGov Challenge today and help green our government!

The Medical Device Manufacturers Association is starting a $200,000 radio and print ad campaign aimed at stopping Congress from imposing more than $40 billion in taxes on their goods, Roll Call reports.  “The spots have been placed in Capitol Hill publications, including Roll Call, Congressional Quarterly and Politico, as well as on local news radio station WTOP. The ads claim that patients and innovation will suffer if Congress goes through with imposing the tax. The Senate Finance Committee’s health care bill included $40 billion in levies on the devices over 10 years” (Roth, 10/29).