Philadelphia-area life sciences companies reeled in nearly $3B in the 1st quarter
By John George, Philadelphia Business Journal
trong investor interest in local life sciences companies continued during the first quarter of 2021 with 16 Philadelphia-area businesses reeling in more than $2.9 billion.
Cell and gene therapy companies, the industry’s hottest sector, accounted for more than $980 million of that figure.
The financial data was collected by the Chamber of Commerce for Greater Philadelphia’s regional CEO Council for Growth and its partners as part of the 2-year-old Cell and Gene Therapy and Connected Health Initiative to promote and expand the region’s strengths in life sciences.
“There is so much promising science coming out of our region, and funders have taken notice,” said Claire Greenwood, executive director of the regional CEO Council for Growth. “Cell and gene therapy is one of the fastest-growing industries in Greater Philadelphia.”
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Thank you to our members who continue to support the Chamber through their membership, you make our mission possible!
Renewing members in May (to date):
• TMC Consulting/M&M Silkscreen, Thomas McCool
Dear Members and Friends,
As pandemic conditions continue to evolve, we are closely following air travel restrictions like most of you. Reliable air travel is an operational cornerstone throughout the transatlantic corridor. Many of our members and regional partners’ businesses are influenced by seamless international connectivity. As we near the mid-point of 2021, the Philadelphia International Airport’s CEO Chellie Cameron reports a continued increase in air traffic as the vaccination efforts expand throughout the country. However, the industry continues to face hurdles and Chellie and her team are committed to keeping the community current about what can be expected in the coming months at PHL.
A second Air Service Town Hall will take place on May 12 from 2:30-4:00 pm EST. Speakers will include Chellie, Stephanie Wear, Director of Air Service Development & Cargo Services at PHL and three representatives from American Airlines, PHL’s Hub carrier. Presenters will provide various updates relating to the current and future world of air service at PHL. The meeting will also include some follow up items for PHL to report back on to the group in subsequent meetings.
If you would like to join this exciting assembly, please reach out directly to Nicole Maddox at email@example.com for more information, to register for the meeting, and obtain a calendar invitation and webinar link.
Aramark to buy New Jersey health care hospitality firm
Philadelphia Business Journal
Aramark Corp. has agreed to acquire Next Level Hospitality, a provider of culinary and environmental services in skilled nursing and rehabilitation facilities.
Terms of the deal were not disclosed.
Founded in 2017, Next Level Hospitality is headquartered in Bergen County, New Jersey, and generated revenue of $160 million in the last 12 months ending March 31. The revenue is expected to be accretive to Aramark’s earnings by early fiscal 2022. Next Level will operate as a separate division under its own brand within Aramark’s health care business.
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