Hartford Business Journal

6 Hartford Business Journal • September 7, 2015 www.HartfordBusiness.com HEALTH CARE St. Francis CEO: Merger 'just the beginning' St. Francis Care Inc.'s approved merger with Trinity Health is a game-changer that will benefit patients, the community and employees, St. Francis Hospital and Medical Center CEO Chris Dadlez said last week. "What this does is offer us a platform and a cata- lyst to really do much more," said Dadlez, who will be president and CEO of what's tentatively being called Trinity Health New England, a regional healthcare network under the Trinity umbrella. The regional health system will include St. Fran- cis, Mount Sinai Rehabilitation Hospital, Springfield- based Sisters of Providence Health System and, pending state approval, Johnson Memorial Hospi- tal in Stafford Springs, Dadlez said, in addition to non-hospital joint ventures in which St. Francis is involved. The merger is expected to be final Oct. 1. Expect to see more hospitals and health facilities become part of the regional network, Dadlez said. "We hope this is just the beginning," he said. "There are more opportunities to be developed on all fronts — it's not just hospital-centric any longer." Merging with Trinity gives St. Francis and the regional network more efficien- cies and healthcare relationships that will benefit patients and communities in a changing healthcare landscape, rewarding the industry for patient outcomes over patient volume. The merger positions St. Francis to thrive in the new healthcare world and culminates a multi-year journey to transform St. Francis in the new landscape, Dadlez said. "The whole world of health care has been, for a long time, very fragmented," he said. "There's a lot of redundancy, a lot of inefficiency, a lot of waste." Trinity has agreed to commit $275 million in capital over five years for in- frastructure development, new health services lines, mergers and acquisitions, and doctor recruitment. GOVERNMENT, POLITICS & LAW Comptroller: CT's 2016 budget $800K in black Comptroller Kevin Lembo said last week that financial markets volatility has complicated Connecticut's 2016 fiscal year budget outlook, but that his office is currently projecting an $800,000 surplus. "The revenue accruals for Fiscal Year 2015 were not as strong as expected, and there is concern that this trend could continue into Fiscal Year 2016," Lem- bo said. "There are also numerous revenue policy changes in Fiscal Year 2016, including an estimated $13.6 million in new revenue from the roll-out of Keno gaming, which will be carefully monitored in the coming months." The 2016 budget also relies on $200.6 million in forced savings from state agencies, which Lembo said could be challenging given the savings extracted from agency budgets in prior fiscal years. Stock market volatility is a major concern as well, Lembo said, because it can lead to significant fluctuations in capital gains related receipts. MANUFACTURING CT manufacturers start Farmington innovation event Three Connecticut manufacturing heavyweights have partnered with Tunxis Community College and industry officials to start the first Greater Hartford Mini- Maker Faire. Maker Faire is a global celebration of inventiveness, encouraging people to use their ideas to make objects that could be useful to society. The first Maker Faire started in 2006 in San Francisco and bills itself as the Greatest Show & Tell on Earth. Greater Hartford manufacturers Lego, Stanley Black & Decker and Legrand agreed to be the corporate sponsors of the first Mini-Maker Faire in Greater Hart- ford, which will take place Oct. 3 at Tunxis Community College in Farmington. The Farmington event will showcase robotics, 3D printing, musical instru- ments, wearable art, radios, paper creations, mobility resources and mosquito- fighting devices. Attendees to the free event are encouraged to build at the exhibits. The event is the brainchild of the Connecticut Business & Industry Association and the Connecticut College of Technology's Regional Center for Next Generation Manufacturing, which seeks to train workers for high-level manufacturing jobs. TRANSPORTATION Zipcar seeking downtown Hartford presence Short-term car rental provider Zipcar wants to expand its Hartford presence, a company spokeswoman confirmed last week. Zipcar, which has six cars at Trinity College and the University of Hartford, is in talks with city officials about creating a "pod" on city property, where it would park additional vehicles. Lindsay Wester, Zipcar's public relations manager, couldn't say exactly where Zipcar might locate the pod. But she said the company typically looks for dense- ly populated areas close to public transit. In a number of cities, Zipcar has first targeted colleges before expanding to other areas, based on demand, she said. In order to rent a Zipcar, a driver must sign up and be approved as a member, then reserve the car online or over the phone. A member card unlocks the ve- hicle, so there is no need to pick up keys. BY THE NUMBERS $405M The projected tax revenue that will be generated over 20 years by the proposed Outlet Shoppes at Rentschler Field in East Hartford, which would include 410,000 square feet of retail space. 3.8% The percentage decline in inpatient discharges at Connecticut hospitals since the Affordable Care Act was passed in 2010. 24.1 The average number of minutes Connecticut residents spend in traffic each day, according to a study by Bankrate.com. $4M The cost overrun developers of Hartford's new minor league baseball park are projecting early on in the construction process. TOP 5 MOST READ on HartfordBusiness.com ■ Hartford minor league ballpark construction reaches early milestone ■ New Britain conditionally lands new pro baseball team ■ State approves St. Francis Hospital-Trinity merger ■ After review, health insurance hikes lowered ■ Report: CT 15th worst state for drivers STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com. HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on LinkedIn: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/subscribe Weekly e-newsletters: CT Green Guide Weekly www.HartfordBusiness.com/subscribe WEEK IN REVIEW TOP STORY New Britain conditionally lands new pro baseball team The city of New Britain won't be without pro- fessional baseball for long after all. The Atlantic League of Professional Baseball Clubs last week announced that New Britain has been conditionally approved to join its league for the 2016 season. Final approval is subject to successful lease negotiations, and sign off by New Britain's mayor and city council and Atlan- tic League board of directors. "We still have work to do but are very encour- aged by our discussions with the city and the hearty reception central Connecticut has given to keeping professional baseball in New Britain," said Atlantic League Founder Frank Boulton. "We look forward to continued progress and are hopeful this will happen in short order." Upon final approval, an existing or expansion Atlantic League team will replace the outgoing Rock Cats at New Britain Stadium beginning next April. The Rock Cats are moving to Hartford where they will become the Yard Goats. The Atlantic League is currently completing its 18th season of professional baseball and includes teams in New York, New Jersey, Con- necticut, Pennsylvania, Maryland and Texas. Since beginning play, over 800 Atlantic League players have been signed by Major League Baseball organizations. Long-time New Britain Rock Cats fans will be able to cheer for a new team in 2016. Chris Dadlez, CEO, St. Francis Hospital and Medical Center P H O T O | H B J F I L E

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