Good Growth Opportunities in Global Venous Thromboembolism Treatment Market Till 2026

Venous Thromboembolism (VTE) is formation of blood clot in the vein. It includes both Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE). When a clot forms in a deep vein, usually in the leg, it is called a deep vein thrombosis. If that clot breaks loose and travels to the lungs, it is called pulmonary embolism. Long term complications of venous thromboembolism include chronic thromboembolic pulmonary hypertension (CTPH) and the post-thrombotic syndrome (PTS).

Venous thromboembolism is third most common cardiovascular disease occurred in the world. Common symptoms of venous thromboembolism include edema, dilated blood veins mainly in chest and legs, dyspnea, tachycardia and fever. The lower extremities are the most common site for DVT, but other affected locations include the upper extremities and the mesenteric and the pelvic veins, as well as the cerebral veins.

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Venous Thromboembolism Treatment Market:Drivers and Restraints

Major factors such as increasing morbidity rate of venous thromboembolism and increasing awareness about available treatments for venous thromboembolism are driving the global venous thromboembolism treatment market towards growth. On the other hand, factors such as stringent regulatory approvals and challenges in adaption of newer drug in the market are restraining the growth of this market.

Venous Thromboembolism Treatment Market: Overview

With rise in the aging population, morbidity rate of venous thromboembolism is also rapidly increasing. The mainstay of venous thromboembolism treatment is anticoagulation. However, anticoagulants will probably always increase bleeding risk. Hence, using both heparin and compression stockings appears better than either one alone in reducing the rate of deep vein thrombosis. Medications to treat venous thromboembolism like heparin, dabigatran has shown promise. Vitamin K antagonists are also commonly used. Acute DVT may be treated in an outpatient setting with low-molecular-weight heparin. Hence, these medicinal therapies are responsible for the growth of venous thromboembolism treatment market.

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Venous Thromboembolism Treatment Market:Region-wise Outlook

Region wise, the venous thromboembolism treatment market is classified into countries namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is the dominant regional market for venous thromboembolism treatments and is followed by Europe due the existence of a lathe number of venous thromboembolic patients in these regions. North America and European venous thromboembolism market is driven by high healthcare spending, improved healthcare infrastructure and high awareness about the disease and available treatments. Asia Pacific is a promising market for venous thromboembolism treatment and is expected to undergo rapid market growth due to increase in purchasing power, changing healthcare infrastructure and increased awareness for clinical facilities.

Venous Thromboembolism Treatment Market: Key Players

Some of the major companies contributing to venous thromboembolism treatment market are Sanofi-Aventis, Upsher-Smith Laboratories, Abbott Laboratories, Merck & Co., Wockhardt Ltd, Bayer Biologicals, Dupont Pharm Co, Bristol-Myers Squibb Company and Pfizer Inc.

TIM And Italtel Modernize Voice Over IP Services For Poste Italiane

Infrastructure upgraded using Network Functions Virtualization logic, enabling innovative services and functions

Milan, 30 March 2017 – TIM, Italy’s leading ICT company, and Italtel, a leading telecommunications company in Network Functions Virtualization (NFV), managed services and all-IP communication, have jointly designed and deployed – within a Raggruppamento Temporaneo di Imprese (temporary group of companies) in which TIM is the lead – an evolved Voice-over-IP (VoIP) infrastructure for Poste Italiane.

Italtel logo

Italtel logo

Poste Italiane is Italy’s largest company operating in postal delivery, logistics, financial and insurance services, and digital communication, with network capabilities across the country. The renovation project of Poste Italiane’s VoIP platform was launched with the objective of providing new and improved services for the company’s internal users – covering 13,000 post offices across Italy – while reducing infrastructure costs. Overall, Poste Italiane’s private network serves more than 50,000 users, who use various types of devices thanks to TIM’s broadband and ultra-broadband connections.

The adopted solution is based on the most recent technologies and advanced standards. It is completely virtualized according to the NFV model, bringing cloud computing logic to the telecommunication sector. The architecture is designed to allow the evolution of the platform with full continuity for Poste Italiane’s existing IT infrastructures – which are hosted in TIM’s data centers – and full VoIP integration with the service provider’s network.

The full compatibility of Italtel’s products with the existing infrastructure, the integration capabilities demonstrated by TIM and Italtel in dealing with the complexity of the existing network and the use of consolidated migration methodologies guaranteed the smooth transition to the final architecture, with minimal impact on network configuration and user experience for the active services.

The migration of more than 20,000 users in the post offices was completed within a few months, decreasing the space occupied in the centralized infrastructure in TIM data centers by 75% and significantly reducing its energy consumption.

The transformation involved a range of Italtel products and services, including the Italtel Multimedia Communication Suite (i-MCS) which supports software modularity, NFV and cloud, LTE and IMS functionalities. Italtel’s subscriber data management solution i-TDS, its Session Border Controller NetMatch-S and iNEM (Neutral Event Manager), a comprehensive management suite, were also used in the project.

***

TIM Group is Italy’s leading ICT company, supporting the country’s “Digital Life”. TIM’s offer is built on top quality and maximum dissemination of convergent services and premium content relying upon innovative infrastructures, a vast choice of APPs and devices, tailored and modular solutions, both for retail and business. The three-year business plan 2017-2019 provides for approx. 11 bln. euros in investments in Italy, of which circa 5 bln. euros to accelerate UBB networks development. www.telecomitalia.com

Italtel designs and provides All IP communication solutions; Managed Services; IT System Integration Services; Network Integration and Migration activities. Italtel counts among its customers more than 40 of the world’s top TLC Operators and SPs. In Italy Italtel is also reference partner of Enterprises and Public Sector. Italtel is present in several countries including France, UK, Spain, Germany, Poland, Argentina, Brazil, Chile, Ecuador, Colombia. www.italtel.com

Contact:
TIM Press Office
+39 06 3688 2610
www.telecomitalia.com/media
Twitter: @TIMnewsroom

Laura Borlenghi
Tel.: +39024388 5275; +39 3357694240;
laura.borlenghi@italtel.com

J.Jill, Inc. Announces Fourth Quarter and Full Year Fiscal 2016 Results

QUINCY, Mass.–(BUSINESS WIRE)–J.Jill, Inc. (NYSE:JILL) today announced financial results for the fourth quarter and fiscal year ended January 28, 2017.

Paula Bennett, President and CEO of J.Jill, Inc. stated: „We are very pleased with our fourth quarter performance, which helped drive our strong fiscal 2016 results. We have now delivered positive total company comparable sales in 18 of the last 20 quarters, and year-over-year earnings growth for 20 consecutive quarters. Our 10.8% total company comparable sales growth for the fourth quarter of fiscal 2016 demonstrates our ability to delight our customers with the product assortment and omni-channel shopping experience that builds loyalty for our brand. With our proven formula of data-driven decision making, we believe that we have the right strategies in place to grow profitably, and we plan to continue the momentum that we achieved in 2016 into 2017 and beyond.”

For the fourth quarter ended January 28, 2017:

  • Total net sales increased by 14.8% to $166.9 million from $145.4 million in the fourth quarter of fiscal 2015.
  • Total company comparable sales, which includes comparable store sales and direct to consumer comparable sales, increased by 10.8%.
  • Direct to consumer net sales represented 48.8% of total net sales, up from 46.1% in the fourth quarter of fiscal 2015.
  • Gross profit increased to $105.5 million from $91.4 million in the fourth quarter of fiscal 2015. As a percentage of total net sales, gross profit was 63.2% compared to 62.9% in the fourth quarter of fiscal 2015.
  • SG&A was $94.6 million compared to. $85.2 million in the fourth quarter of fiscal 2015, and as a percentage of total net sales was 56.7% compared to 58.6% in the fourth quarter of fiscal 2015. Fourth quarter 2016 SG&A included $2.5 million of net non-recurring expenses.
  • Income from operations, inclusive of net non-recurring SG&A expenses, increased to $10.8 million, and as a percentage of total net sales was 6.5% compared to 4.3% in the fourth quarter of fiscal 2015.
  • Adjusted EBITDA* for the fourth quarter of fiscal 2016 increased by 45.7% to $22.5 million from $15.4 million in the fourth quarter of fiscal 2015.
  • Income tax expense increased to $3.7 million from $0.8 million in the fourth quarter of fiscal 2015, and the effective tax rate was 64.7% compared to 35.0% in the fourth quarter of 2015.
  • Diluted earnings per share for the fourth quarter of fiscal 2016 were $0.05 compared to $0.03 in the fourth quarter of fiscal 2015.
  • Adjusted diluted earnings per share* for fourth quarter of fiscal 2016, which excludes net non-recurring expenses, were $0.08 compared to adjusted diluted earnings per share of $0.04 in the fourth quarter of fiscal 2015.

For the fiscal year ended January 28, 2017:

  • Total net sales increased by 13.7% to $639.1 million from $562.0 million in pro forma fiscal 2015.
  • Total company comparable sales, which includes comparable store sales and direct to consumer comparable sales, increased by 11.2%.
  • Direct to consumer net sales represents 43.2% of fiscal 2016 net sales, up from 39.8% in pro forma fiscal 2015.
  • Gross profit increased to $427.9 million from $373.2 million in pro forma fiscal 2015. As a percentage of total net sales, gross profit was 67.0% compared to 66.4% in pro forma fiscal 2015.
  • SG&A was $368.5 million compared to $331.8 million in pro forma fiscal 2015, and as a percentage of total net sales was 57.7% compared to 59.0% in pro forma fiscal 2015. Fiscal year 2016 SG&A included $9.6 million of net non-recurring expenses.
  • Income from operations, inclusive of net non-recurring expenses, increased to $59.4 million, and as a percentage of net sales was 9.3% compared to 7.4% of net sales in pro forma fiscal 2015.
  • Adjusted EBITDA* for fiscal 2016 increased by 29.6% to $106.2 million from $82.0 million in pro forma fiscal 2015.
  • Income tax expense increased to $16.7 million from $10.2 million in pro forma fiscal 2015, and the effective tax rate was 40.9% compared to 41.7% for pro forma fiscal 2015.
  • Diluted earnings per share for fiscal 2016 were $0.55.
  • Adjusted diluted earnings per share* for fiscal 2016, which excludes net non-recurring expenses, were $0.68.

The Company ended fiscal 2016 with $13.5 million in cash and cash equivalents, including the impact of a voluntary pre-payment of $10.1 million (including accrued interest) on its term loan, compared to $27.5 million at the end of fiscal 2015. Inventory at the end of fiscal 2016 increased by 3.5% to $66.6 million compared to $64.4 million at the end of fiscal 2015. The Company opened 14 net new stores in fiscal 2016 and ended the year with 275 stores.

On May 8, 2015, JJill Holdings and JJill Topco Holdings completed the acquisition of the Company (the “Acquisition”). Due to the change in the basis of accounting resulting from the Acquisition, our GAAP statement of operations for the 2015 fiscal year is split into two periods, the Predecessor period from February 1, 2015 to May 7, 2015 and the Successor period from May 8, 2015 to January 30, 2016, which are not necessarily comparable. For comparability, we are also presenting supplemental pro forma financial information for the 2015 fiscal year, giving effect to the Acquisition as if it had occurred on February 1, 2015.

* Non-GAAP financial measures. Please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP Net Income to Adjusted EBITDA and Adjusted Net Income” for more information.

Outlook

For the first quarter of fiscal 2017, we expect total comparable sales to increase in the high single digits. GAAP diluted earnings per share are expected to be in the range of $0.14 to $0.16. Adjusted diluted earnings per share, which excludes approximately $2.2 million of non-recurring expenses associated with the company’s initial public offering, are expected to be in the range of $0.17 to $0.19. Both GAAP and adjusted diluted earnings per share include approximately $0.4 million of public company costs not incurred in 2016. This guidance assumes 43.7 million shares outstanding and a 40.0% income tax expense rate.

For the full 2017 fiscal year, on a 52-week basis, we expect total comparable sales to increase in the high single digits. GAAP diluted earnings per share are expected to be in the range of $0.71 to $0.75. Adjusted diluted earnings per share, which excludes approximately $2.8 million of non-recurring expenses associated with the company’s initial public offering, are expected to be in the range of $0.75 to $0.79. Both GAAP and adjusted diluted earnings per share include approximately $1.4 million of public company costs not incurred in 2016. This guidance assumes 43.7 million shares outstanding and a 40.0% income tax expense rate. The 53rd week of fiscal 2017 is expected to contribute an additional $9.0 million in sales and approximately $0.01 of earnings per share.

Conference Call Information

A conference call to discuss fourth quarter and full year fiscal 2016 results is scheduled for today, March 30, 2017, at 8:00 a.m. Eastern Time. Those interested in participating in the call are invited to dial (877) 201-0168 or (647) 788-4901 if calling internationally. Please dial in approximately 10 minutes prior to the start of the call and reference Conference ID 91491628 when prompted. A live audio webcast of the conference call will be available online at http://investors.jjill.com/Investors-Relations/News-Events.

A taped replay of the conference call will be available approximately two hours following the live call and can be accessed both online and by dialing (800) 585-8367 or (416) 621-4642. The pin number to access the telephone replay is 91491628. The telephone replay will be available until Thursday, April 6, 2017.

About J.Jill, Inc.

J.Jill is an omni-channel premier retailer and nationally recognized women’s apparel brand committed to delighting our customers with great wear-now product. The J.Jill brand represents an easy, relaxed, inspired style that reflects the confidence and comfort of a woman with a rich, full life. J.Jill operates an omni-channel platform that delivers a seamless experience to our customers through 275 stores nationwide and a robust ecommerce experience. J.Jill is headquartered outside Boston. For more information, please visit www.JJill.com. The information included on our website is not incorporated by reference herein.

Non-GAAP Financial Measures

To supplement our unaudited consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), we use the following non-GAAP measures of financial performance:

  • Adjusted EBITDA, which represents net income (loss) plus interest expense, provision (benefit) for income taxes, depreciation and amortization, the amortization of the step-up to fair value of merchandise inventory resulting from the application of a purchase accounting adjustment related to the Acquisition, certain Acquisition-related expenses, sponsor fees, equity-based compensation expense, write-off of property and equipment, prior period adjustment for tenant allowances, and other non-recurring expenses, primarily consisting of outside legal and professional fees associated with certain non-recurring transactions and events. We present Adjusted EBITDA on a consolidated basis because our management uses it as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting overall expected performance of our business and for evaluating on a quarterly and annual basis actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and as such, use it internally to report results.
  • Adjusted Net Income, which represents net income (loss) plus prior period adjustment for tenant allowances and other non-recurring expenses, primarily consisting of outside legal and professional fees associated with certain non-recurring transactions and events. We present Adjusted Net Income on a consolidated basis because our management uses it as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period.
  • Adjusted Earnings per Share (“Adjusted EPS”), which represents Adjusted Net Income divided by the number of shares outstanding. Adjusted EPS is presented as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period.

While we believe that Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS are useful in evaluating our business, Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS are non-GAAP financial measures that have limitations as analytical tools. Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS should not be considered alternatives to, or substitutes for, net income (loss) or EPS, which are calculated in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS differently or not at all, which reduces the usefulness of Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS as tools for comparison. We recommend that you review the reconciliation and calculation of Adjusted EBITDA , Adjusted Net Income, and Adjusted EPS to net income (loss) and EPS, the most directly comparable GAAP financial measures, under “Reconciliation of GAAP Net Income to Adjusted EBITDA and Adjusted Net Income” and not rely solely on Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, or any single financial measure to evaluate our business.

Forward-Looking Statements

This press release contains, and oral statements made from time to time by our representatives may contain, “forward-looking statements.” Forward-looking statements include statements under “Outlook” offering and other statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risk regarding, our ability to manage inventory or anticipate consumer demand; changes in consumer confidence and spending; our competitive environment; our failure to open new profitable stores or successfully enter new markets and other factors set forth under “Risk Factors” in the Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made. J.Jill undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

(Tables Follow)

       
J.Jill, Inc.
Consolidated Balance Sheets
As of January 28, 2017 (Successor) and January 30, 2016 (Successor)
(Unaudited)
(Amounts in thousands)
 
 
 

January 28, 2017
(Successor)

January 30, 2016
(Successor)

Assets
Current assets
Cash and cash equivalents $ 13,468 $ 27,505
Accounts receivable 3,851 3,164
Inventories, net 66,641 64,406
Receivable from related party 1,262
Prepaid expenses and other current assets   18,559   20,539
Total current assets 103,781 115,614
 
Property and equipment, net 102,322 86,810
Intangible assets, net 163,483 179,965
Goodwill 197,026 196,572
Receivable from related party 1,850
Other assets   1,033   1,221
Total assets $ 567,645 $ 582,032
 
Liabilities and Member’s Equity
Current liabilities
Accounts payable $ 38,438 $ 41,041
Accrued Expenses and other current liabilities 46,121 43,591
Current portion of long-term debt   2,799   2,500
Total current liabilities 87,358 87,132
 
Long-term debt 264,440 237,478
Deferred income taxes 74,750 78,837
Other liabilities   20,132   12,014
Total liabilities 446,680 415,461
 
Member’s equity
Contributed capital 107,878 162,265
Accumulated earnings (deficit)   13,087   4,306
Total member’s equity   120,965   166,571
Total liabilities and member’s equity $ 567,645 $ 582,032
 
Note 1: On May 8, 2015, the Company was acquired by Jill Holdings Inc., which is controlled by TowerBrook Capital Partners. The Company accounted for the acquisition in accordance with FASB Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, resulting in a presentation of a Predecessor period (pre-sale) and Successor period (post-sale period).

 

Note 2: These financial statements are unaudited and are subject to normal and recurring year-end adjustments, which may have a material impact on reported balances. Additionally, statements do not include footnotes.

 
   
J.Jill, Inc.
Consolidated Statements of Operations
For the Three Months Ended January 28, 2017 (Successor) and January 30, 2016 (Successor)
(Unaudited)
(Amounts in thousands)
 
 

For the
Three Months Ended
January 28, 2017
(Successor)

 

For the
Three Months Ended
January 30, 2016
(Successor)

 
Net sales $ 166,917 $ 145,353
Cost of goods sold   61,445   53,906
Gross profit 105,472 91,447
Selling, general and administrative expenses   94,643   85,246
Operating income 10,829 6,201
Interest expense   5,040   3,971
Income before income taxes 5,789 2,230
Income tax expense   3,744   781
 
Net income $ 2,045 $ 1,449
 
 
Net income per share attributable to common stockholders
Basic $ 0.05 $ 0.03
Diluted $ 0.05 $ 0.03
 
Weighted average number of common shares outstanding
Basic 43,747,944 43,747,944
Diluted 43,747,944 43,747,944
 
         
J.Jill, Inc.
Consolidated Statements of Operations

For the Twelve Months Ended January 28, 2017 (Successor) and Periods May 8, 2015 Through January 30, 2016
(Successor) and February 1, 2015 Through May 7, 2015 (Predecessor)

(Unaudited)
(Amounts in thousands)
 
 

For the
Twelve Months Ended
January 28, 2017
(Successor)

For the
Period May 8, 2015 –
January 30, 2016
(Successor)

For the
Period February 1,
2015 – May 7, 2015
(Predecessor)

 
Net sales $ 639,056 $ 420,094 $ 141,921
Cost of goods sold   211,117  

155,091

  44,232  
Gross profit 427,939 265,003 97,689
Selling, general and administrative expenses 368,525 246,482 80,151
Acquisition-related expenses       13,341  
Operating income 59,414 18,521 4,197
Interest expense   18,670   11,893   4,599  
Income (loss) before income taxes 40,744 6,628 (402 )
Income tax expense   16,669   2,322   1,499  
 
Net income (loss) $ 24,075 $ 4,306 $ (1,901 )
 
 
Net income (loss) per share attributable to common stockholders
Basic $ 0.55 $ 0.10 $ (0.04 )
Diluted $ 0.55 $ 0.10 $ (0.04 )
 
Weighted average number of common shares outstanding
Basic 43,747,944 43,747,944 43,747,944
Diluted 43,747,944 43,747,944 43,747,944
 
 

Supplemental Unaudited Pro Forma Consolidated Financial Information

The unaudited pro forma consolidated statement of operations for the year ended January 30, 2016 has been derived from our consolidated audited statements of operations and represents the addition of the Predecessor period from February 1, 2015 through May 7, 2015 and the Successor period from May 8, 2015 through January 30, 2016, and gives effect to the following as if they had occurred on February 1, 2015:

  • JJill Holdings’ acquisition of approximately 94% of the outstanding interests of Jill Intermediate LLC and JJill Topco Holdings’ acquisition of approximately 6% of the outstanding interests of Jill Intermediate LLC and our election to push down the effects of the Acquisition to our consolidated financial statements; and
  • The related Acquisition financing as provided for under the Term Loan for $250.0 million and the ABL Facility for $40.0 million (the “Financing”).

The unaudited pro forma consolidated financial information presented is based on available information and assumptions we believe are reasonable and does not include the impacts of any revenue, cost, or other operating synergies that may result from the acquisition. The unaudited pro forma consolidated statement of operations is presented for illustrative purposes and does not purport to represent what the results of operations would actually have been if the Acquisition and the Financing had occurred as of the dates indicated or what the results of operations would be for any future periods.

             
J.Jill, Inc.
Consolidated Statements of Operations
For the Twelve Months Ended January 28, 2017 (Successor) and January 30, 2016 (Pro Forma)
(Unaudited)
(Amounts in thousands)
 
Successor Pro Forma Historical
 

For the
Twelve Months Ended
January 28, 2017

For the
Twelve Months Ended
January 30, 2016

Pro Forma
Adjustments

 

For the
Period May 8, 2015 –
January 30, 2016
(Successor)

 

For the
Period February 1,
2015 – May 7, 2015
(Predecessor)

 
Net sales $ 639,056 $ 562,015 $ 420,094 $ 141,921
Cost of goods sold   211,117   188,852   (10,471 ) (1 )   155,091   44,232  
Gross profit 427,939 373,163 10,471 265,003 97,689
Selling, general and administrative expenses 368,525

 

331,752 2,044 (2 ) 246,482 80,151
1,943 (3 )
(250 ) (4 )
(34 ) (5 )
973 (6 )
443 (7 )
Acquisition-related expenses       (13,341 ) (8 )     13,341  
Operating income 59,414 41,411 18,693 18,521 4,197
Interest expense   18,670   16,893   401   (9 )   11,893   4,599  
Income (loss) before income taxes 40,744 24,518 18,292 6,628 (402 )
Income tax expense   16,669   10,223   6,402   (10 )   2,322   1,499  
 
Net income (loss) $ 24,075 $ 14,295 $ 11,890   $ 4,306 $ (1,901 )
 
 
Notes to Unaudited Pro Forma Consolidated Statement of Operations Adjustments:
(1)   Represents the elimination of the increase in cost of goods sold resulting from the amortization of the fair value step-up of merchandise inventory reflected in the purchase price allocation at the date of the Acquisition.
(2) Represents the incremental depreciation expense resulting from the increase in fair value of certain fixed assets, reflected in the purchase price allocation at the date of the Acquisition.
(3) Represents the incremental amortization expense resulting from the increase in fair value of certain definite-lived intangible assets, reflected in the purchase price allocation at the date of the Acquisition.
(4) Represents the elimination of the management fee charged by our previous equity sponsor for the period from February 1, 2015 through May 7, 2015.
(5) Represents the net decrease in amortization expense related to recognition of the fair value of favorable/unfavorable leases.
(6) Represents incremental pro forma deferred rent expense resulting from the recalculation of deferred rent expense from the Acquisition.
(7) Represents the incremental compensation expense related to certain management incentive bonuses awarded in connection with the Acquisition.
(8) Represents the elimination of the transaction costs incurred in connection with the Acquisition.
(9) Represents the net change in interest expense.
(10) Represents the income tax effect for the above adjustments reflecting an estimated statutory tax rate of 35%.
 
     
J.Jill, Inc.
Reconciliation of GAAP Net Income to Adjusted EBITDA and Adjusted Net Income
For the Three Months Ended January 28, 2017 (Successor) and January 30, 2016 (Successor)
(Unaudited)
(Amounts in thousands)
 
 

For the
Three Months Ended
January 28, 2017
(Successor)

For the
Three Months Ended
January 30, 2016
(Successor)

 
Net income $ 2,045 $ 1,449
Adjustment: Prior period adjustment for tenant allowance(e) (376 )
Adjustment: Other non-recurring expenses(d) 2,909 390
Adjustment: Tax Provision(a)   (1,036 )   (137 )
Adjusted net income $ 3,542   $ 1,702  
 
Adjusted net income per share attributable to common stockholders
Basic $ 0.08 $ 0.04
Diluted $ 0.08 $ 0.04
 
Weighted average number of common shares outstanding
Basic 43,747,944 43,747,944
Diluted 43,747,944 43,747,944
 
 
 

For the
Three Months Ended
January 28, 2017
(Successor)

 

For the
Three Months Ended
January 30, 2016
(Successor)

 
Net income $ 2,045 $ 1,449
Interest expense 5,040 3,971
Provision for income taxes 3,744 781
Depreciation and amortization 8,939 8,586
Equity-based compensation expense(b) 165 51
Write-off of property and equipment(c) 189
Other non-recurring expenses(d) 2,909 390
Prior period adjustment for tenant allowance(e)   (376 )    
Adjusted EBITDA $ 22,466   $ 15,417  
 
 
Notes to the three months ended January 28, 2017 adjusted net income and adjusted EBITDA adjustments:
(a)   The tax provision adjustment for adjusted net income is estimated by applying the full year effective tax rate of 40.9% to the adjustments.
(b) Represents expenses associated with equity incentive units granted to our management. Prior to the Acquisition, incentive units were accounted for as a liability-classified award and the related compensation expense was recognized based on changes in the intrinsic value of the award at each reporting period. Subsequent to the Acquisition, new incentive units were granted to management and are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grants.
(c) Represents net gain or loss on the disposal of fixed assets.
(d) Represents items management believes are not indicative of ongoing operating performance. These expenses are primarily composed of legal and professional fees associated with non-recurring events. The pro forma fiscal year 2015 expenses are primarily due to legal, accounting, and professional fees incurred in connection with the initial public offering.
(e) Represents the prior period correction to recognize lease incentives as reductions of rental expense by the lessee on a straight-line basis over the term of the new lease, in accordance with ASC 840.
 
         
J.Jill, Inc.
Reconciliation of GAAP Net Income to Adjusted EBITDA and Adjusted Net Income
For the Twelve Months Ended January 28, 2017 (Successor) and January 30, 2016 (Pro Forma)
(Unaudited)
(Amounts in thousands)
 
Successor Pro Forma Historical
 

For the
Twelve Months Ended
January 28, 2017

For the
Twelve Months Ended
January 30, 2016

For the
Period May 8, 2015 –
January 30, 2016
(Successor)

For the
Period February 1,
2015 – May 7, 2015
(Predecessor)

 
Net income (loss) $ 24,075 $ 14,295 $ 4,306 $ (1,901 )
Adjustment: Prior period adjustment for tenant allowance(h) (163 )
Adjustment: Other non-recurring expenses(g) 9,734 1,784 1,600 184
Adjustment: Tax Provision(a)   (3,915 )   (744 )   (561 )   686  
Adjusted net income (loss) $ 29,731   $ 15,335   $ 5,345   $ (1,031 )
 
Adjusted net income (loss) per share attributable to common stockholders
Basic $ 0.68 $ 0.12 $ (0.02 )
Diluted $ 0.68 $ 0.12 $ (0.02 )
 
Weighted average number of common shares outstanding
Basic 43,747,944 43,747,944 43,747,944
Diluted 43,747,944 43,747,944 43,747,944
 
 
Successor Pro Forma Historical
 

For the
Twelve Months Ended
January 28, 2017

For the
Twelve Months Ended
January 30, 2016

For the
Period May 8, 2015 –
January 30, 2016
(Successor)

For the
Period February 1,
2015 – May 7, 2015
(Predecessor)

 
Net income (loss) $ 24,075 $ 14,295 $ 4,306 $ (1,901 )
Interest expense 18,670 16,893 11,893 4,599
Provision (benefit) for income taxes 16,669 10,223 2,322 1,499
Depreciation and amortization 36,227 37,802 28,702 5,147
Inventory step-up (b) 10,471
Acquisition-related expenses(c) 13,341
Sponsor fees(d) 250
Equity-based compensation expense(e) 623 609 168 441
Write-off of property and equipment(f) 385 349 237 112
Other non-recurring expenses(g) 9,734 1,784 1,600 184
Prior period adjustment for tenant allowance(h)   (163 )            
Adjusted EBITDA $ 106,220   $ 81,955   $ 59,699   $ 23,672  
 
Notes to twelve months ended January 28, 2017 adjusted net income and adjusted EBITDA adjustments:
(a)   The tax provision adjustment for adjusted net income is estimated by applying the full year effective tax rate of 40.9% to the adjustments.
(b) Represents the impact to cost of goods sold resulting from the amortization of the step-up to fair value of merchandise inventory resulting from the application of a purchase accounting adjustment related to the Acquisition.
(c) Represents transaction costs incurred in connection with the Acquisition, consisting substantially of legal and advisory fees, which are not expected to recur.
(d) Represents management fees charged by our previous equity sponsors.
(e) Represents expenses associated with equity incentive units granted to our management. Prior to the Acquisition, incentive units were accounted for as a liability-classified award and the related compensation expense was recognized based on changes in the intrinsic value of the award at each reporting period. Subsequent to the Acquisition, new incentive units were granted to management and are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grants.
(f) Represents net gain or loss on the disposal of fixed assets.
(g) Represents items management believes are not indicative of ongoing operating performance. These expenses are primarily composed of legal and professional fees associated with non-recurring events. The pro forma fiscal year 2015 expenses are primarily due to legal, accounting, and professional fees incurred in connection with the initial public offering.
(h) Represents the prior period correction to recognize lease incentives as reductions of rental expense by the lessee on a straight-line basis over the term of the new lease, in accordance with ASC 840.
 

Internationally Certified Dermatologist, Dr. Geetika Mittal Gupta Shares 5 Globally Trending Ways to Fight Cellulite and Express Weight Loss

NEW DELHI, March 30, 2017 /PRNewswire/ —

Dr. Geetika Mittal Gupta is a well-experienced cosmetic dermatologist, with over 10 years of experience in this field. She is the Medical Director of ISAAC (International Skin and Anti Ageing Centre) which is a Cosmetology Centre of Excellence, located in Delhi and Gurgaon. Dr. Geetika completed her MBBS from the Government Medical College, Patiala in 2005 and Diploma in Practical Dermatology from world-renowned Cardiff University, UK. In addition, she is also Board-certified from the American Academy of Aesthetic Medicine. She is a member of the Anti-Aging Society India; the Indian Association of Dermatologists, Venereologists and Leprologists; the Cosmetic Dermatology Society of India and the Association of Cutaneous Surgeons of India to name a few.

Vicious Cycle of Cellulite:

Dr. Geetika Mittal Gupta explains what exactly causes cellulite and how it is different from obesity. Poor diet, hormonal changes, age, and genetic predisposition – all of these trigger cellulite formation. There is a common denominator for all these factors – the accumulation of toxins in the body. They tend to evolve slowly and affect different parts of the body, and it’s perfectly possible for a person to suffer from more than one type. The identification process is particularly important, as the appropriate treatment depends on the type of cellulite and the stage of its development. Let’s take a quick look at the typical characteristics of three types of cellulite and some of the methods that are used to deal with them.

– Soft cellulite: Soft cellulite is mostly present in areas where there is a build up of fat, such as upper arms and legs, and is often accompanied by varicose veins or spider veins; as a person walks or moves, soft cellulite will also move. It tends to increase with age or weight gain, and it’s aggravated by lack of muscle tone. In general, improved circulation and skin tone will help, as will weight loss.

–  Hard cellulite: Also known as solid cellulite, this type is more common in younger women, and is mostly found around the hips and upper thighs. It is usually one of the first outward signs of cellulite. The skin is tight and grainy or dimpled like orange peel, and the appearance doesn’t alter when walking or moving; the skin seems to be firmly attached to the muscle.

– Edematous cellulite
: This is the least common type of cellulite and also the most difficult to treat. It results from problems of poor circulation aggravated by significant fluid retention. It mainly occurs in the legs, which lose their defining shape and become more columnar. The skin is pasty and may be painful when touched or when the sufferer is seated for a long time.

X-Wave: X-Wave is the new US FDA approved non-invasive aesthetic device for reduction of cellulite using acoustic wave technology. The acoustic waves used in X-Wave break down the adhesive fibrous bands in the skin, which lead to the puckering and dimpling of cellulite. Thus, X-Wave treatments gradually improve visible cellulite. Eight to ten sessions at weekly intervals give optimal results in most patients.

DNA Diet – DNA Diet is designed to assist the healthcare practitioner in the design of a personalized healthy eating plan based on individual genetic differences. DNA Diet tests a number of well-researched gene variations that impact metabolism, absorption and storage of fats and carbohydrates, as well as eating behavior. DNA Diet also provides additional insight into how each individual reacts to carbohydrates and saturated fats. DNA Diet is not a diet plan and simply having the test done in no way contributes to weight loss. It is a tool that healthcare practitioner uses to better understand an individuals genetic profile, helping them to recommend a healthy eating plan best suited to them.  

Cooltech Advantage – Cooltech is a groundbreaking technology which uses a patented cooling process called Cryolyposis to target and eliminate fat cells permanently. It removes the fat cells from the body in a natural and progressive way through the lymphatic system. This advanced fat freeze technology gives liposuction like results but without downtime, anaesthesia or pain medication. In fact, most patients return to work immediately after the treatment. The treatment works on the stubborn fat bulges in the human body that don’t respond to diet or any form of exercise. Cooltech Advantage works wonderfully on abdominal fat, love handles, back flab, bra fat, inner thigh bulges, bulky arms, double chin, gynaecomastia and post pregnancy bulges.

Talking about the technology Dr.Geetika, Medical Director of ISAAC says, “It is an effective, safe, effortless treatment, which has shown long-term results. ISAAC is the first clinic in Delhi to get this advanced technology and we have done more than 12 thousand treatments at our clinics and over 1 million procedures of Cooltech procedure has been done worldwide.”

Lymphastim Treatment – Lymphastim is a clinically proven treatment with immediate visible results. The human lymphatic system is responsible for removing interstitial fluid from tissues. It absorbs and transports fatty acids and fat throughout the circulatory system and transports antigen presenting cells to the lymph nodes where the immune system is stimulated. Lymphastim therapy treatment helps speed up body’s natural healing process, it helps lose weight, eliminates toxin, accelerate metabolism, helps to shape and tone up the body, renews energy and reduces inflammation.

DIY fat loss remedies:

Anti Cellulite Body Scrub: Dry brush the body and then apply a paste of coffee ground with warm coconut oil and sea salt in circular motions over the affected area. Caffeine in coffee improves blood circulation while coconut oil hydrates and sea salt detoxifies and exfoliates. When done religiously it diminishes the appearance of cellulite. Also, one can add a few drops of lavender oil to turn it into a relaxing spa ritual.

Detox water: 2 cucumbers sliced, 2 inches ginger root, 2 lemon wedges, 101-12 mint leaves with a pinch of himalayan rock salt in 8 glasses of water. Let it seep over night and drink it throughout the next day.

Media Contact:
Niharika Parti
m@silvermonkeycommunications.com
+91-9717147814
Silver Monkey Communications

Blind Tadpoles Learn Visually After Researchers Graft Eyes Onto Tails and Treat Them with Neurotransmitter Drugs

Blind Tadpoles Learn Visually After Researchers Graft Eyes Onto Tails and Treat Them with Neurotransmitter Drugs

Strategy could provide road map for promoting innervation in regenerative medicine

Article ID: 671750

Released: 23-Mar-2017 1:00 PM EDT

Source Newsroom: Tufts University

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    • Credit: Allen Discovery Center at Tufts University

      Blind tadpoles with eyes grafted onto their tails were able to process visual information after being treated with a small molecule neurotransmitter drug.

    Newswise — MEDFORD/SOMERVILLE, Mass. (March 30, 2017) – Blind tadpoles were able to process visual information from eyes grafted onto their tails after being treated with a small molecule neurotransmitter drug that augmented innervation, integration, and function of the transplanted organs, according to a paper published online today by researchers at the Allen Discovery Center at Tufts University in npj Regenerative Medicine, a Nature Research journal. The work, which used a pharmacological reagent already approved for use in humans, provides a potential road map for promoting innervation – the supply of nerves to a body part – in regenerative medicine.

    The researchers sought to better understand how the nascent nerves of re-grown or implanted structures integrate into a host. A lack of innervation and integration can be a barrier in regenerative medicine, particularly for sensory organs that must form connections with the host to communicate auditory, visual and tactile information.

    In an effort to identify ways to increase innervation, researchers grafted eyes onto the trunk of the tails of blind tadpoles. They then treated the animals with Zolmitriptan, a compound that activates serotonin receptors 1B and 1D (5-HT1B/D), which have been associated with neural development. Treated tadpoles showed a significant increase in graft innervation without changes to the host’s original nervous system.

    The researchers then tested the tadpoles’ ability to distinguish color by creating a test in which the tadpoles were discouraged from occupying a red space in favor of a blue one. Seventy-six percent of sighted tadpoles passed the test. Only 3 percent of blind tadpoles passed the test, while 11 percent of blind tadpoles with eye grafts did so. But among tadpoles with eye grafts that had been treated with 5-HT1B/D and seen graft innervation as a result, 29 percent passed the test.

    In addition to testing the tadpoles’ ability to detect color, the researchers also tested true image-forming vision, by determining the tadpoles’ ability to follow optical patterns rotating in clockwise and counterclockwise directions. Dishes of tadpoles were placed above an LCD screen displaying patterns of triangular clusters rotating slightly every second. Eighty percent of sighted tadpoles followed the pattern compared to 38 percent of blind tadpoles and 32 percent of tadpoles with untreated eye grafts. By contrast, 57 percent of tadpoles with innervated eye grafts induced by exposure to the 5-HT1B/D agonist drug were able to follow the rotating patterns. Importantly, this drug is currently in use for treatment of migraine in human patients, providing a proof-of-principle of repurposing neurotransmitter drugs for regenerative medicine in general, and for control of innervation and transplanted organ functionality specifically.

    “For regenerative medicine to move forward and enable the repair of damaged tissues and organ systems, we need to understand how to promote innervation and integration of transplanted organs,” said the paper’s corresponding author, Michael Levin, Ph.D., Vannevar Bush professor of biology and director of the Allen Discovery Center at Tufts and the Tufts Center for Regenerative and Developmental Biology. “This research helps illuminate one way to promote innervation and establish neural connections between a host central nervous system and an implant, using a human-approved small molecule drug.”

    While studies have examined how human-machine interfaces – including cochlear implants and retinal prosthetics – may be used to treat deafness and blindness, this research examines brain-body plasticity using novel neurogenesis to integrate biological implants, added co-author Douglas Blackiston, post-doctoral associate, Department of Biology and Center for Regenerative and Developmental Biology, Tufts University.

    “The fact that the grafted eyes in our model system could transmit visual information, even when direct connections to the brain were absent, suggests the central nervous system contains a remarkable ability to adapt to changes both in function and connectivity,” said Blackiston.

    Work was supported by the Allen Discovery Center program through The Paul G. Allen Frontiers Group, and The G. Harold and Leila Y. Mathers Charitable Foundation.

    Blackiston, D., Vien, K., Levin M. “Serotonergic stimulation induces nerve growth and promotes visual learning via posterior eye grafts in a vertebrate model of induced sensory plasticity”. npj Regenerative Medicine. Published online March 30, 2017. DOI: 10.1038/s41536-017-0012-5.

    ###

    About Tufts University
    Tufts University, located on campuses in Boston, Medford/Somerville and Grafton, Massachusetts, and in Talloires, France, is recognized among the premier research universities in the United States. Tufts enjoys a global reputation for academic excellence and for the preparation of students as leaders in a wide range of professions. A growing number of innovative teaching and research initiatives span all Tufts campuses, and collaboration among the faculty and students in the undergraduate, graduate and professional programs across the university’s schools is widely encouraged.



    Daily News 30 / 03 / 2017

    Debate on the future of Europe: President Juncker held a Citizens’ Dialogue in Malta

    As part of a series of debates and dialogues taking place across the Union on the future of Europe, President Jean-Claude Juncker participated in a Citizens’ Dialogue yesterday in Malta, together with Prime Minister of Malta, Joseph Muscat, as well as Commissioner Karmenu Vella. He answered questions from participants on a wide range issues from the foreign policy of the Union, to agriculture, the Juncker Plan and the fight against terrorism. Discussing with participants the opportunities the EU offers and how the Union should develop in the years to come, the President underlined that „we have to show that we are able to deliver”. President Juncker reiterated the Commission’s commitment to the Paris Climate deal, underlining that Europe remains proud to be a world leader in the fight against climate change, whilst others step away from their commitments. Asked about what the EU can do to make its citizens feel safe, President Juncker replied „I do think that the European Union as a concept, as a construction, as a history is a guarantee against war and a guarantee for peace”. Speaking of the opening of the Brexit negotiations, President Juncker declared that citizens must come first: „It is citizens first – those Europeans living in the UK and the British people living in other countries of the European Union”. The Citizens’ Dialogue also covered the upcoming proposal on the European Pillar of Social Rights, which the European Commission is set to present in April.  A recording of President Juncker’s Citizens’ Dialogue is available here. Continuing his visit to Malta today, President Juncker will address the plenary of the EPP Congress (+/- 12:45 CET) and his speech will be broadcast live on EbS. (For more information: Margaritis Schinas – Tel.: +32 229 60524; Mina Andreeva – Tel.: +32 229 91382; Natasha Bertaud – Tel.: +32 229 67456)

     

    U-Multirank 2017: les établissements d’enseignement supérieur de l’UE obtiennent de bons résultats dans les domaines de la mobilité et de l’internationalisation

    La quatrième édition du classement universitaire U-Multirank, qui regroupe près de 1 500 universités installées dans 99 pays, a été publiée aujourd’hui. U-Multirank, financé par le programme Erasmus+ de l’UE et lancé par la Commission européenne, est le premier classement mondial permettant aux utilisateurs de comparer facilement les performances des universités de manière multidimensionnelle. Il permet également aux utilisateurs de développer leur classement personnalisé en sélectionnant des indicateurs en fonction de leurs besoins. Les universités peuvent être classées selon leurs performances dans la recherche, l’enseignement et l’apprentissage, le transfert de connaissances, l’orientation internationale et l’engagement régional. Tels sont certains des facteurs que la Commission cherchera à renforcer dans son projet sur la modernisation de l’enseignement supérieur, qui sera présenté plus tard cette année. Selon l’édition 2017 de U-Multirank, la plus importante jamais réalisée jusqu’ici, plus de la moitié des universités de l’UE obtiennent les meilleurs scores en matière de mobilité des étudiants, la moitié attirent aussi du personnel académique international et environ 70% se distinguent en participant à des publications conjointes internationales. Plus d’informations sont disponibles ici. (Pour plus d’informations: Nathalie Vandystadt – Tél. +32 229 67083 ; Inga Höglund Tél. +32 229 50698)

     

    Commission report shows potential of Ecological Focus Areas on EU farms to improve biodiversity

    Farmland set aside as ecological focus areas helps improve biodiversity and supports eco-systems services, according to a European Commission report on the first two years since the introduction of ecological focus areas (EFAs) as part of the last reform of the Common Agricultural Policy (CAP). The report shows that EFAs, introduced in the rules governing direct payments to farmers in 2013, can contribute to addressing the impact of some farming practices on the environment by bringing potential positive effects for biodiversity and for soil, water and climate. According to the rules on EFAs, farmers with arable land above 15 hectares must ensure that at least 5% of this land is an ecological focus area. In 2015, 10% of the land under the obligation was declared as EFA, and data for 2016 shows very similar results. More information is available in a news item online. (For more information: Daniel Rosario – Tel.: + 32 229 56185; Clémence Robin- Tel.: +32 229 52509)

    State aid: Commission clears Latvian export-credit insurance scheme

    The European Commission has found that the Latvian short-term export-credit scheme is in line with EU state aid rules, and in particular with the 2012 Short-term export-credit Communication. The Commission concluded in particular that the kind of insurance cover provided by the scheme to exporters established in Latvia is unavailable in the private market. There is a lack of insurance coverage for small and medium-sized companies (SMEs) with a small export turnover; and for single export transactions (i.e. on a transaction-by-transaction basis as compared to insuring the entire export portfolio of a company) for a duration of one half to two years. This is because private insurers are less interested in this type of transactions. In this context, the Latvian scheme allows the State to cover risks of single export transactions and risks incurred by SMEs with a small export turnover. The scheme is authorised until 31 December 2022. More information will be available on the Commission’s competition website, in the public case register under the reference SA.47233. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Yizhou Ren – Tel.: +32 229 94889)

     

    Mergers: Commission clears acquisition of Italian logistics assets by SEGRO and PSPIB

    The European Commission has approved under the EU Merger Regulation the acquisition of joint control over three logistics warehouses in Italy by SEGRO plc („SEGRO”) of the UK and Public Sector Pension Investment Board („PSPIB”) of Canada, via their joint venture SEGRO European Logistics Partnership S.a.r.l. („SELP”) of Luxembourg. Two of the logistic warehouses are located in Bologna and one in Piacenza. SEGRO is a real estate investment trust that owns, manages and develops modern warehousing, light industrial and data centre properties. PSPIB invests the pension plans of the Canadian public sector in a diversified global portfolio including stocks, bonds, private equity, real estate, infrastructure and natural resources. The Commission concluded that the proposed acquisition would raise no competition concerns because of its very limited impact on the market structure. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8419. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Tsoni – Tel.: +32 229 90526)

     

    Mergers: Commission clears acquisition of Xella by Lone Star

    The European Commission has approved under the EU Merger Regulation the acquisition of sole control over the Xella group by Lone Star. Xella is a diversified building materials group headquartered in Germany. Lone Star is a global private equity firm from the US. Lone Star also controls Forterra, a UK building materials company. The Commission concluded that the acquisition would raise no competition concerns because of the limited increment brought by the transaction and the presence of other competitors in the markets in question. The operation was examined under the normal merger review procedure. More information will be available on the Commission’s competition website, in the public case register under the case number M.8341. (For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Tsoni – Tel.: +32 229 90526)

    Concentrations: la Commission autorise l’acquisition d’un ensemble immobilier allemand par Amundi Immobilier et Malakoff Médéric

    La Commission européenne a approuvé, en vertu du règlement européen sur les concentrations, l’acquisition du contrôle conjoint de l’entreprise TAS Kapstadtring 2 GmbH basée en Allemagne par l’entreprise Amundi Immobilier S.A. et le groupe Malakoff Médéric, tous deux basés en France. TAS Kapstadtring est propriétaire d’un ensemble immobilier, comprenant un immeuble de bureaux, situé à Hambourg, en Allemagne. Amundi Immobilier est actif dans le secteur de la gestion d’actifs immobiliers alors que Malakoff Médéric exerce ses activités dans le secteur de la protection sociale complémentaire. La Commission a conclu que l’opération envisagée ne soulèverait pas de problème concurrentiel compte tenu de son impact très limité sur la structure du marché. L’opération a été examinée dans le cadre de la procédure simplifiée du contrôle des concentrations. De plus amples informations sont disponibles sur le site internet concurrence de la Commission, dans le registre public des affaires sous le numéro d’affaire M.8370. (Pour plus d’informations: Ricardo Cardoso – Tel.: +32 229 80100; Maria Tsoni – Tel.: +32 229 90526)

     

    PIB par habitant en 2015 dans 276 régions de l’UE – quatre régions situées à plus du double de la moyenne de l’UE

    En 2015, exprimé en standards de pouvoir d’achat, le PIB régional par habitant oscillait entre un peu moins de 30% de la moyenne de l’Union européenne (UE) dans la région bulgare de Severozapaden et 580% de cette moyenne dans la région d’Inner London – West au Royaume-Uni. Cette information est extraite des données publiées par Eurostat, l’office statistique de l’Union européenne. Un communiqué de presse est disponible ici. (Pour plus d’informations: Anna-Kaisa Itkonen – Tel.: +32 229 56186; Sophie Dupin de Saint-Cyr – Tél.: +32 229 56169)

    ANNOUNCEMENTS

     

    First Vice-President Timmermans in Madrid to meet Prime Minister Rajoy and Foreign Minister Dastis and participate in Citizens Dialogue and Parliamentary Committee

    On 30-31 March, First Vice-President Frans Timmermans travels to Madrid for a series of meetings and a Citizens’ Dialogue. The First Vice-President will be received on Thursday by Ms Ana Pastor, President of the Congress of Deputies, before appearing at the Joint Committee for the EU of the Spanish Parliament. At 19:30 on Thursday he will deliver the 13th Carlos de Amberes Commemorative Lecture at the Carlos de Amberes Foundation, followed by a meeting with Mr Alfonso Dastis, Minister of Foreign Affairs and State Secretary for the EU. On Friday, First Vice-President Timmermans participates in a Citizens Dialogue with students of Madrid Complutense University at 11:00, which will be live-streamed here. The First Vice-President will conclude his visit by meeting with Mr Mariano Rajoy, Prime Minister of Spain.(For more information: Natasha Bertaud – Tel.: +32 229 67456; Tim McPhie – Tel.: +32 229 58602)

     

    Digital Single Market and collaborative economy in focus on Vice-President Ansip’s visit to Ljubljana

    Vice-President for Digital Single Market Andrus Ansip will visit Ljubljana, Slovenia, tomorrow for a number of meetings on digital progress and the collaborative economy. The Vice-President will meet Slovenian Prime Minister Miro Cerar and hold a working lunch with Minister of Public Administration, Boris Koprivnikar, discussing Slovenian progress in various digital fields, e-government, e-privacy, cybersecurity, digitisation of the SMEs and data economy. He will also visit the National Assembly and present the progress made on the Commission’s Digital Single Market strategy to the parliamentary committees on the EU Affairs and Economy. Moreover, he will talk with the Members of Parliament about the collaborative economy, e-commerce and geo-blocking. Vice-President Ansip will hold a welcome speech at a collaborative economy conference organised by the Commission in cooperation with the Ministry of Public Administration and the Slovenian Press Agency (STA) and meet the local startup community. The Vice-President’s speech will be uploaded here tomorrow morning; real time updates from the visit can be followed on @Ansip_EU. (For more information: Nathalie Vandystadt – Tel. +32 229 67083; Inga Höglund – Tel. +32 229 50698)

     

    Energy Union tour: Vice-President Šefčovič in Sweden for political talks and project visits

    From 30-31 March, Vice-President for the Energy Union Maroš Šefčovič will bring the Energy Union Tour to Sweden. Among others, he will be meeting with the Swedish Energy Minister Ibrahim Baylan, representatives of the Parliament’s Industry Committee and the Haga Initiative, a network of companies committed to reduce their climate emissions by 40% by 2020. The objective will be to discuss the implementation of the 2030 energy and climate framework, Energy Union governance (including the preparation of the National Energy and Climate Plans) and the Commission’s Clean Energy for All Europeans package presented in November last year. Energy Union Vice-President Šefčovič said: “It is a pleasure for me to once again visit Sweden, a Member State well advanced in the energy transition and a strong supporter of our Energy Union project. The visit is a unique opportunity for me to discuss with a broad range of stakeholders the benefits the Energy Union brings to Sweden, and to see what the energy transition means in practice, both at national and local level. I am also curious to see which fresh ideas the Swedish youngsters of the University of Umeå will bring to the table. After all, the Energy Union is first and foremost a project for and driven by Europe’s citizens”. Tomorrow, on 31 March, Vice-President Šefčovič will hold a Citizen’s Dialogue with students of the University of Umeå on „Energising Europe”, focussing on the sustainable production of electricity and its importance for the smart specialisation in the Swedish region of Västerbotten. He will further visit the smart city of Umeå in an ultrafast rechargeable electric buses awarded with the CIVITAS award of technical innovation. Finally, Vice-President Šefčovič will discuss bioeconomy and the role of North Sweden’s forestry in climate change with stakeoholders from the region of Västerbotten. More information on Energy Union is available here. (For more information: Anna-Kaisa Itkonen – Tel. +32 229 56186 – Nicole Bockstaller – Tel.: +32 229 52589)

    Commissioners Malmström and Crețu debate EU trade and cohesion policies with social partners and civil society

    Trade and cohesion policies feature high on the agenda of the plenary session of the European Economic and Social Committee (EESC), the EU advisory body which comprises workers’ and employers’ organisations and other interest groups, bridging the EU and civil society. In the first debate of the plenary session, Commissioner for Trade Cecilia Malmström outlined the EU’s progressive and ambitious trade policy agenda, telling the Committee that „there has never been a more important time to defend openness, to shape globalisation, to engage with the world and project our values”. This debate comes at an important moment, when the Commission is negotiating trade agreements with important partners such as Japan, Mexico, and the Mercosur countries. The Commissioner highlighted the implementation of sustainable development provisions in trade agreements, and mentioned in particular the EU-Canada trade agreement, known as CETA. This deal promotes EU standards and includes legally binding commitments to ensure trade does not happen at the expense of the protection of social rights or the environment. The Commissioner also stressed the Commission’s determination to ensure that trade is not only free, but fair and rules-based, emphasising the crippling cost of distortions and dumping to the European economy. The discussion on trade was followed by a separate debate on the EU’s cohesion policy post 2020 with Commissioner for Regional Policy Corina Crețu. More details about the plenary session are available here. The full speech of Commissioner Malmström is available here. (For more information: Daniel Rosario – Tel.: + 32 229 56185; Axel Fougner – Tel.: +32 229 57276)

    European Commission reinforcing its commitment to sustainable development

    Commissioner for International Cooperation and Development, Neven Mimica is at the United Nations Office in Geneva today, where he will hold an Executive Briefing on the European Union’s approach to implementing the Sustainable Development Goals (SDGs). The SGDs, as part of the 2030 Agenda for Sustainable Development, were agreed by the international community in 2015, as a universal and comprehensive Framework for action. Commissioner Mimica said: „The European Union, alongside our partners, was a driving force for high ambition for the 2030 Agenda. As a result we have a universal, global framework for achieving sustainable development, and ending poverty once and for all. But we cannot stop here. Our main challenge now is to ensure that we maintain the momentum. And that we turn the rhetoric into results.” Commissioner Mimica presented to the UN Membership the proposals made by the European Commission in November 2016, which incorporate the 2030 Agenda and the SGDs in its policies. Commissioner Mimica also presented the „External Investment Plan”, which will help to catalyse private sector investment in partner countries, to contribute to sustainable economic growth and financing for development.” (For more information: Carlos Martín Ruiz de Gordejuela – Tel.: + 32 229 65322; Christina Wunder – Tel.: + 32 229 92256)

    Commission appoints members to advisory group on ethics in science and new technologies

    The European Commission has today appointed 15 high-calibre experts on natural and social sciences and humanities, philosophy, ethics and law to the European Group on Ethics in Science and New Technologies (EGE). The Group will advise the Commission on all areas of science and technology policy which involve ethical, societal and fundamental rights issues. The appointments follow the decision by President Juncker and Carlos Moedas, Commissioner for Research, Science and Innovation, to have a dedicated group of experts to provide independent ethical advice. The Group will report to the President and to the College of Commissioners as a whole, and is placed under the direct responsibility of Commissioner Moedas. Commissioner Moedas said: „Innovation is driving rapid changes and it is our responsibility to ensure that developments are for the good of humanity. The wellbeing of future generations will be determined by the ethical considerations we apply to our policies today. That is why I am delighted that the renewed European Group on Ethics is up and running. The fifteen exceptional men and women appointed today will be an important support to a Commission that seeks to address the major societal challenges for the benefit of all citizens.” For more information on the list of members and the mandate of the EGE, see here. (For more information: Lucia Caudet – Tel.: + 32 229 56182; Mirna Talko – Tel.: +32 229 87278; Maud Noyon – Tel.: +32 229 80379)

    Upcoming events of the European Commission (ex-Top News)

    Newest Release of STEALTHbits Technologies’ Award-Winning Change and Access Monitoring Solution Makes Key Advancement In Securing Active Directory

    HAWTHORNE, NJ–(Marketwired – Mar 30, 2017) – STEALTHbits Technologies Inc., a leading cybersecurity software company focused on protecting an organization’s credentials and data, announced today the newest release of its award-winning StealthINTERCEPT real-time change and access monitoring solution.

    „The ultimate prize for any attacker is the NTDS.dit file. It stores nearly all of the information accessible in Active Directory, including user objects, groups, membership information and very importantly, password hashes. An attacker could compromise every user account within the Active Directory database by stealing the hashes in the NTDS.dit file,” said Gabriel Gumbs, VP of Product Strategy at STEALTHbits Technologies. „Attackers target and attempt to steal the NTDS.dit in many ways, including using the Install From Media option of the NTDSUtil, remotely copying the file via VSS shadow copy, or using post exploitation scripts readily available on the internet such as MimiKatz,” continued Gumbs.

    StealthINTERCEPT 4.1 introduces the ability to protect the NTDS.dit file from Volume Shadow Copy (VSS) attacks. This protection safeguards the entire Active Directory database from attackers attempting to extract password hashes and other valuable information, providing a significant step forward in an organization’s ability to protect itself from bad actors attempting to steal the keys to the proverbial kingdom.

    Other new features in the 4.1 release include the ability to monitor LDAP activity for early signs of compromise, indicating the reconnaissance phase of an attack on Active Directory. StealthINTERCEPT’s Splunk integration has also been enhanced and includes revised, rich pre-packaged dashboards containing pre-parsed and pre-analyzed data. Lastly, StealthINTERCEPT users can save time by adding advanced actions to their workflows using the easy automation and scripting functionality provided by PowerShell.

    Version 4.1 of StealthINTERCEPT is available immediately. A free trial containing these new features will be available starting in mid-April. To learn more, we invite you to arrange a private demonstration by contacting us at sales@stealthbits.com.

    ABOUT STEALTHbits Technologies

    STEALTHbits Technologies is a cybersecurity software company focused on protecting an organization’s credentials and data.

    By removing inappropriate data access, enforcing security policy, and detecting advanced threats, we reduce security risk, fulfill compliance requirements and decrease operations expense.

    Identify threats. Secure data. Reduce risk.

    For more information, visit http://www.stealthbits.com, email sales@stealthbits.com, or call +1-201-447-9300.

    The STEALTHbits logo and all other STEALTHbits product or service names and slogans are registered trademarks or trademarks of STEALTHbits Technologies, Inc. All other trademarks and registered trademarks are property of their respective owners.

    Premier Holding Corp. (PRHL: OTCQB) | Premier Holding Corp. Expands its LED Efficiency Solutions to the Midwest with an Agreement with AER Lighting

    PRHL Subsidiary, The Power Company, based in Chicago, will Lead the Local Relationship with this New Strategic Partner

    TUSTIN, CA–(Marketwired – Mar 30, 2017) – Premier Holding Corporation (OTCQB: PRHL) today announces that it has partners with AER Lighting to support its energy efficiency lighting sales in the Midwest.

    In continuation with Premier Holdings mission to provide energy cost reduction solutions for all aspects of its clients’ power needs, the company has partnered with AER Lighting, a recognized name in LED solutions, to provide full-scale LED upgrades to several locations of a major health services company in the Chicagoland area. AER Lighting offers full turn-key solutions for LED lighting, including design for LED, rebate procurement and complete installation. They have proven success in working with healthcare facilities, industrial buildings, hospitality properties, large commercial properties and multifamily buildings.

    Health Services companies offering rehabilitation, skilled nursing, post-acute care and assisted and independent living have very high energy use since their facilities are operating 24/7. Lighting upgrades not only substantially reduces the energy consumption for a facility, but will also reduce the amount of maintenance needed. By improving a facility with high-efficiency LED lighting with their lower maintenance needs not only saves money, but it also reduces the interruption of the residents, which enhances their overall experience with the facility.

    „As always, our goal is to reduce energy costs for our clients in as many areas as possible.” We have consistently helped our health services clients save money on their energy costs by negotiating and securing the best rates possible for their facilities in deregulated locations. And our corporate strategy is to further reduce their energy costs by offering additional efficiency products, such as LED lighting specifically for their unique healthcare facility needs,” states Cheryl Arts, Managing Partner of The Power Company.

    Hank Cohn, Board Member and CFO of AER Lighting states, „We are proud to initiate our partnership to offer our products and services to their expansive clientele. Our mission is to align best-in-class facility infrastructure, engineering acumen, technical personnel and operations protocols. We purchase LED bulbs and fixtures in extremely large quantities, directly from the manufactures, allowing us to offer all of the additional services of LED lighting design, rebate procurement and installation, while still maintaining our price advantage. We also offer our clients financing options which would allow them to start saving money on the project from day one.”

    „As our other subsidiary, Energy Efficiency Experts, focuses on a larger scope of efficiency products, services, and financing models, we will continue to partner with local, outstanding companies in specific industries, such as LED lighting. We recognize that our company’s continued growth and success will be enhanced by its ability to deliver excellent products and services aimed at energy cost reduction for its clientele,” states Randall Letcavage, President and CEO of Premier Holding Corp.

    About Premier Holding Corporation
    The Company provides financial support and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company’s mission is to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated and utilize the overall economics of such products and services for the benefit of its customers. Through subsidiaries we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information, visit PRHL Investors Relations: www.prhlcorp.com.

    About AER Lighting
    AER Lighting is a full-service LED replacement installer for large commercial and multifamily buildings. We also work with healthcare facilities, industrial buildings and hospitality properties. A subsidiary of Advanced Energy Resources, Inc., AER Lighting is a lighting company operating on a national scale. Based in Brooklyn, N.Y., AER Lighting has retrofitted over 500 buildings from fluorescent/incandescent to LED. AER partners are all veterans of the energy, real estate and financial industries, and we understand property owner’s needs and constraints. For more information see: www.aerlighting.com

    About Energy Efficiency Experts (E3)
     E3 is an Energy Services Company (ESCO) formed by PRHL to provide the best of breed solutions to its clients by utilizing proprietary technologies and high level industry relationships. By maintaining a „product agnostic” approach, E3 will prescribe the best solution for the unique circumstances of its clients after careful survey and analysis. Through its ever-growing acquisitions and alliances, E3 strives to provide the most current, and fully-vetted solutions in energy generation and energy reduction technologies, as well as management tools which capture the client for future opportunities. For more information, visit: www.e3energyexperts.com.

    About The Power Company (TPC) The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona’s Restaurant Group, McDonald’s, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information, visit: www.thepowercompany.com

    Premier Holding Corp. Safe Harbor

    This press release contains certain statements that may include „forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as „believes,” „expects,” „anticipate,” „optimistic,” „intend,” „will” or other similar expressions. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

    Copyright © 2017 Marketwired. All Rights Reserved

    The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

    Premier Holding Corp. (PRHL: OTCQB) | Premier Holding Corp. Expands its LED Efficiency Solutions to the Midwest with an Agreement with AER Lighting

    PRHL Subsidiary, The Power Company, based in Chicago, will Lead the Local Relationship with this New Strategic Partner

    TUSTIN, CA–(Marketwired – Mar 30, 2017) – Premier Holding Corporation (OTCQB: PRHL) today announces that it has partners with AER Lighting to support its energy efficiency lighting sales in the Midwest.

    In continuation with Premier Holdings mission to provide energy cost reduction solutions for all aspects of its clients’ power needs, the company has partnered with AER Lighting, a recognized name in LED solutions, to provide full-scale LED upgrades to several locations of a major health services company in the Chicagoland area. AER Lighting offers full turn-key solutions for LED lighting, including design for LED, rebate procurement and complete installation. They have proven success in working with healthcare facilities, industrial buildings, hospitality properties, large commercial properties and multifamily buildings.

    Health Services companies offering rehabilitation, skilled nursing, post-acute care and assisted and independent living have very high energy use since their facilities are operating 24/7. Lighting upgrades not only substantially reduces the energy consumption for a facility, but will also reduce the amount of maintenance needed. By improving a facility with high-efficiency LED lighting with their lower maintenance needs not only saves money, but it also reduces the interruption of the residents, which enhances their overall experience with the facility.

    „As always, our goal is to reduce energy costs for our clients in as many areas as possible.” We have consistently helped our health services clients save money on their energy costs by negotiating and securing the best rates possible for their facilities in deregulated locations. And our corporate strategy is to further reduce their energy costs by offering additional efficiency products, such as LED lighting specifically for their unique healthcare facility needs,” states Cheryl Arts, Managing Partner of The Power Company.

    Hank Cohn, Board Member and CFO of AER Lighting states, „We are proud to initiate our partnership to offer our products and services to their expansive clientele. Our mission is to align best-in-class facility infrastructure, engineering acumen, technical personnel and operations protocols. We purchase LED bulbs and fixtures in extremely large quantities, directly from the manufactures, allowing us to offer all of the additional services of LED lighting design, rebate procurement and installation, while still maintaining our price advantage. We also offer our clients financing options which would allow them to start saving money on the project from day one.”

    „As our other subsidiary, Energy Efficiency Experts, focuses on a larger scope of efficiency products, services, and financing models, we will continue to partner with local, outstanding companies in specific industries, such as LED lighting. We recognize that our company’s continued growth and success will be enhanced by its ability to deliver excellent products and services aimed at energy cost reduction for its clientele,” states Randall Letcavage, President and CEO of Premier Holding Corp.

    About Premier Holding Corporation
    The Company provides financial support and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company’s mission is to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated and utilize the overall economics of such products and services for the benefit of its customers. Through subsidiaries we offer renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information, visit PRHL Investors Relations: www.prhlcorp.com.

    About AER Lighting
    AER Lighting is a full-service LED replacement installer for large commercial and multifamily buildings. We also work with healthcare facilities, industrial buildings and hospitality properties. A subsidiary of Advanced Energy Resources, Inc., AER Lighting is a lighting company operating on a national scale. Based in Brooklyn, N.Y., AER Lighting has retrofitted over 500 buildings from fluorescent/incandescent to LED. AER partners are all veterans of the energy, real estate and financial industries, and we understand property owner’s needs and constraints. For more information see: www.aerlighting.com

    About Energy Efficiency Experts (E3)
     E3 is an Energy Services Company (ESCO) formed by PRHL to provide the best of breed solutions to its clients by utilizing proprietary technologies and high level industry relationships. By maintaining a „product agnostic” approach, E3 will prescribe the best solution for the unique circumstances of its clients after careful survey and analysis. Through its ever-growing acquisitions and alliances, E3 strives to provide the most current, and fully-vetted solutions in energy generation and energy reduction technologies, as well as management tools which capture the client for future opportunities. For more information, visit: www.e3energyexperts.com.

    About The Power Company (TPC) The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona’s Restaurant Group, McDonald’s, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information, visit: www.thepowercompany.com

    Premier Holding Corp. Safe Harbor

    This press release contains certain statements that may include „forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as „believes,” „expects,” „anticipate,” „optimistic,” „intend,” „will” or other similar expressions. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.

    Copyright © 2017 Marketwired. All Rights Reserved

    The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

    MAP Announces Partnership with WEconnect to Mitigate Post-Treatment Relapse Risk in People with Addiction

    AUSTIN, Texas, March 30, 2017 /PRNewswire/ — MAP Health Management, LLC., announced today a partnership with WEconnect Recovery designed to measure the risk of relapse in people with addiction who are served by MAP’s engagement and analytics ecosystem. WEconnect is the most comprehensive relapse reduction mobile application in the market through empowering patients to stay connected with their entire support network in one place on the platform, staying accountable to all their treatment plan activities that are location-based and obtain healthy rewards as a result to boost their fitness and well-being.

    The partnership will launch with a pilot program in April of this year wherein 200 individuals currently supported by MAP’s post-acute engagement solutions will begin using the WEconnect recovery app, a mobile phone application. MAP will integrate data from the mobile application into MAP’s data store to algorithmically assess the patients’ risk of relapse and recidivism. With this actionable information, MAP will leverage its growing ecosystem of treatment providers, health insurance companies, and other technology products to improve clinical and financial outcomes. 

    The goal of the pilot is to understand which patient demographics have high rates of adoption and utilization of recovery-oriented mobile applications. With this insight, the MAP and WEconnect partnership will be well-positioned to deliver cost-effective and clinically efficacious patient-facing mobile applications to health insurance companies, many of which are very interested in improving outcomes for addiction treatment.

    „We believe there is a large demographic out there who will be very responsive to engaging a mobile application as part of their recovery. Understanding who is at risk of relapse is essential to directing resources more efficiently and ultimately improving outcomes for those with Substance Use Disorder,” said Jacob Levenson, CEO of MAP Health Management, LLC. 

    Currently, Substance Use Disorder is treated primarily with costly acute treatment episodes. This treatment model has rendered mostly lackluster outcomes, resulting in increasing reluctance by health insurance companies to subsidize addiction treatment. MAP, in conjunction with its partners like WEconnect, is focused on demonstrating the clinical and economic value of continued engagement with patients and supporting their recovery from SUD through using cost-effective technologies.

    „We believe it is critical to early recovery that individuals stay accountable to their treatment plans and connected to their support community. Mobile devices are a point of closest contact for individuals and this is the ultimate tool to interface with, bridging the large existing gap in aftercare when individuals are transitioning from inpatient or residential to the next phase in their recovery. Pairing our comprehensive solution with MAP’s robust solutions is the ultimate package to impact recovery for the long term starting with early recovery.” said Daniela Luzi Tudor CEO of WEconnect.

    The WEconnect pilot is the third such partnership announced by MAP in recent months as MAP continues to expand its care management and outcomes driven ecosystem of patients, providers, insurance companies, and technology products, all of which are integrated into MAP’s population health platform. MAP is generally recognized as having the most robust risk identification, care coordination, data mobilization, and reporting environment related to addiction in the country. 

    About MAP Health Management, LLC 
    MAP develops technology-enabled solutions that improve clinical and financial outcomes for chronic behavioral health disorders such as Substance Use Disorder. MAP empowers treatment providers, health insurance companies, health systems, and patients with the right data at the right time to improve clinical and financial outcomes. For more information, visit https://www.thisismap.com.

    About Pala-linq Social Purpose Corporation (dba WEconnect)
    WEconnect is a solutions-based platform that addresses the most crucial time during someone’s recovery through technology products and services to reduce relapse, save lives, empower individuals to thrive in recovery while empowering the healthcare industry and organizations to improve outcomes. For more information visit www.weconnectrecovery.com.

    Contact: Jared Smith, jareds@thisismap.com

     

    SOURCE MAP Health Management, LLC