Hartford Business Journal

March 7, 2016

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G R E AT E R H A R T F O R D ' S B U S I N E S S N E W S w w w. H a r t f o rd B u s i n e s s . c o m For more B2B news visit MARCH 7, 2016 Volume 24, Number 14 $3.00 Subscribe online Friday, March 18th, 2016 8:30 a.m. – 1:00 p.m. Hartford Hilton L E A R N I N N O V A T E C O L L A B O R A T E S A V E SUMMIT ANNUAL 's Index ■ Executive Profile: PG. 5 ■ Q&A: PG. 8 ■ The List: PG. 10 ■ Deal Watch: PG. 12 ■ Movers & Shakers: PG. 18 ■ Opinion & Commentary: PG. 20 Energy Reforms Connecticut's clean energy advocates are pushing policy changes that hint at broader tensions between utilities and developers of distributed generation, like solar panels, fuel cells, wind turbines and biomass plants. PG. 3 Market Expansion While production of Protein Sciences' eggless flu vaccine quadrupled last year to 1.2 million doses, the Meriden company is far behind its ambitious five-year goal to produce 30 million doses annually. Find out how the company plans to play catch up. PG. 8 Amid slowdown, home lenders turn to boat buyers, common-area owners for profits By Gregory Seay gseay@HartfordBusiness.com L ending to home buyers and refinancing existing mortgages, once deemed a sta- ble, relatively low-risk route to making money, is taking on an air of vulnerability for Connecticut banks. At least, that's how Glastonbury regional lender United Bank sees it, as interest rates that continue to hover at their lowest levels in generations drain much of the local demand for mortgage refinancing, and new and used home purchases remain spotty. Consumers also have many more options for obtaining a home mortgage, including through credit unions and online financial-services provid- ers like Quicken Loans. As a result, United and other Connecticut and U.S. lenders are searching for profitable new ventures, which is why the $6 billion-asset suc- cessor to former Rockville Bank late last year took on a relatively tiny, $170 million portfolio of loans to boat sellers and buyers. It also acquired the Maryland-based marine-lending team from French bank giant Societe Generale. "This is really a way to diversify,'' said Unit- ed Bank President/CEO William H. W. "Bill" Continued on page 14 United Bank President/CEO William H. W. "Bill'' Crawford IV has diversified into financing boats. P H O T O | H B J F I L E Providers reveal doubts, hopes about accountable care organizations By Matt Pilon mpilon@HartfordBusiness.com A ccountable care organizations (ACOs) are one of the most sig- nificant ongoing attempts in Connecticut to reverse or slow ris- ing healthcare costs and improve care qual- ity, but there's been little insight into how they're performing. Until now. A recent survey conducted by the Connecticut Health Policy Project in conjunction with the Hartford Business Journal provides some of the most in-depth analysis of Connecticut's ACO market, revealing there are at least several hundred thousand state residents enrolled in accountable care organizations. Survey responses from nine ACOs that list Con- necticut as part or all of their service territory found Read the full survey results at HartfordBusiness.com MEASURING PROGRESS Continued on page 16 P H O T O | H B J F I L E Dr. James Cardon, chief clinical integration officer at Hartford Healthcare, says accountable care organizations will be a mainstay in the healthcare industry.

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