December 11-17, 2009 washington business journal the week online 21
only supports expected revenue growth functions in that location are not affected, ac-
at the low end of our targeted range,” said cording to Christine Cramer, director of pub-
Chief Financial Officer Mark Sopp. lic relations at CVS Caremark, in an e-mail.
SAIC said the reason is a longer procure- “We continually review all operational strat-
ment cycle and greater pressure on spend- egies in each market and this decision was
ing by government agencies because of con- made after careful consideration,” she said.
cerns about the federal deficit. redefining what’s possible through the power of design
Shareholder sues Allied Capital
MASn to launch second hD
channel for nationals, orioles
A shareholder of D.C.-based Allied Capi- INTERIOR DESIGN’S 2009
tal Corp. has filed a lawsuit to block the pro-
The Mid-Atlantic Sports Network is
launching a second high-definition televi-
posed sale of the company to a subsidiary of
New York-based Ares Capital Corp.
HALL OF FAME AWARDS
sion channel in April, ensuring that every Plaintiff Eric Volkman owns 9,500 shares
Washington Nationals and Baltimore Ori- of the beleaguered company that in October
oles game will be available in high definition agreed to sell itself to ARCC Odyssey Corp.
next season. for an all-stock deal valued at $648 million
Most of the Baltimore and Washington or $3.47 per share.
area cable and satellite providers have agreed Before the agreement to sell, Allied had
to carry MASN2 HD as part of affiliate deals closed out the second quarter by post-
that allow for “overflow channels.” MASN ing its sixth straight quarterly loss. In the
uses a second channel when the Nationals third quarter, the company lost another
and Orioles are playing at the same time. $140.7 million.
Unlike its standard-definition version, Under the terms of the deal, Ares share-
MASN2 HD will be a dedicated stand-alone holders would have a 65 percent stake in the
channel that telecasts pre- and postgame company and Allied stockholders would
shows and select games. own the remaining 35 percent.
The deal was subject to shareholder ap- TO ALL OF OUR FRIENDS AT GENSLER
QuadraMed purchases for proval and was expected to close in the first
quarter of 2010. Allied Capital shares soared
$126M by Francisco Partners 35 percent after the deal was announced on Diane Hoskins, FAIA Bill Hooper, AIA Raffael Scasserra, AIA
QuadraMed Corp. has agreed to be ac- Oct. 26. Kate Kirkpatrick Jim Camp, AIA Janet Pogue, AIA, IIDA
quired for $126 million by Francisco Part-
Jeff Barber, AIA Chris Murray, AIA Paul Herrick, AIA
ners. Agilex technologies names tom
News of the pending transaction sent Jim Williamson, IIDA Jim Wallace, AIA Steven Martin, AIA
shares of the Reston-based health care in- Davis to board of directors
Jordan Goldstein, AIA Lisa Amster, AIA David Epstein, AIA
formation technology company soaring in Former Congressman Tom Davis, who is
Dee Rendleman Chris Banks, AIA, IIDA Don Ghent, AIA
morning trading Dec. 8. currently director of Deloitte Federal Gov-
QuadraMed stock jumped 30 percent ernment Services, is the new board member Mariela Buendia-Corrochano, AIA Theresa Sheils, AIA
to $8.31 per share after the company said at Agilex Technologies Inc.
that it had entered into a definitive merger Chantilly-based Agilex, an information
agreement to be acquired by private equity technology firm, said Davis will replace the AND THE ENTIRE GENSLER TEAM
firm Francisco Partners. Francisco Partners late Jack Kemp.
manages approximately $5 billion of capital In Congress, Davis chaired the Commit-
and focuses on technology companies. tee on Government Reform and headed sev-
QuadraMed expects the transaction to eral subcommittees, sponsoring legislation
close shortly after it holds a stockholder on e-government, information security and CONGRATULATIONS ON YOUR SPECIAL
meeting in the first quarter of 2010. critical infrastructure.
QuadraMed plans to maintain its Reston Agilex Technologies is collecting a star-
25th ANNIVERSARY AWARD
headquarters and operations at its various studded board of directors to help the two
offices throughout the U.S. and a half-year-old company hit its goal of WE LOOK FORWARD TO PARTNERING WITH YOU IN
approaching $100 million in revenue by the
end of its third full year in 2010.
REDEFINING WHAT’S POSSIBLE THROUGH
human Genome Sciences raises
THE POWER OF DESIGN
$456M in secondary offering
Maryland governor plans tax IN THE NEXT 25 YEARS!
Human Genome Sciences Inc. has com-
pleted its second public stock offering in credits for companies that hire
the last six months, raising net proceeds of Maryland Gov. Martin O’Malley wants David Noel Khalid Itum Leonard Sachs
$456.3 million. to create a $3,000 tax credit for businesses Heather Davis Murad Sbitan Kerry Gabler
The Rockville-based biotechnology com- that hire the unemployed, as a way of put-
pany sold 17.825 million shares in its sec- ting the state’s jobless back to work. Debbie Sachs Amy Benoni Christine Lindhorst
ondary offering, including 2.325 million The proposal, unveiled Dec. 7 at the Judi Miller Jane Bond Jessica Barno
shares to underwriters. Human Genome Greater Baltimore Committee’s Small Ti Schulze Ron Cristy Paul Herzog
raised $356 million in a secondary stock of- Business Summit, is part of O’Malley’s leg-
fering in August. islative package for the upcoming General Shereen Wootten Debbie Spears Mary Carter
The company will use proceeds from its lat- Assembly session. The package, outlined Bobby Johnson Steve Labas Kim Toomey
est stock offering to fund manufacturing and for an audience of small-business own- Lisa Rubino Janice Crozier Justin Carlson
development of its Benlysta, a lupus drug it is ers, also includes setting aside about $10
co-developing with GlaxoSmithKline PLC. million to guarantee small-business loans David Wittle Nazli Turkel Lauren Wells
The secondary stock offering comes after through the Maryland Industrial Develop- Linsey Jorgenson Justin Fitz Christopher Weidner
the company’s stock had rallied more than ment Financing Agency and addressing a Maria Bache Zach Dickie Tim Stone
2,000 percent since falling to a low of 45 more than 300 percent increase in unem-
cents per share in March. ployment insurance tax rates scheduled to Darrell Groves Diane Cronise Chris White
take effect Jan. 1. Ken Delaney Brian Myers Monique Dimon
CVS to close Rockville pharmacy State officials said the one-year tax credit
would create about 6,000 jobs and be capped
operations, lays off 100 workers at $20 million. The program would be open AND THE REST OF OUR TEAM
CVS Caremark Corp. is shuttering its to businesses of any size, although no com-
specialty pharmacy operations in Rockville pany would be able to get a credit for more
on March 26, 2010. than 50 jobs, said Christian Johansson, sec-
Nearly 100 employees will be affected and retary of the Maryland Department of Busi-
have already been informed. Other business ness and Economic Development.