Crain's Detroit Business - 2011 Book of Lists - (Page 51)

December 27, 2010 CRAIN’S DETROIT BUSINESS Page 51 NEW ECONOMY/HEALTH CARE In this section IP law firms . . . . . . . . . 53 Group health plans . . . 55 Hospital companies . . . 57 Physician organizations 60 Graduate degrees . . . . 61 Biotech firms . . . . . . . 63 Engineering firms . . . . 63 Environmental firms . . . 63 IT services . . . . . . . . . 63 I Top family-owned biz The top 10 family-owned businesses ranked by 2009 revenue*: Guardian Industries Kelly Services Ilitch Cos. Plastipak Holdings Barton Malow Sherwood Food Walbridge Aldinger Suburban Collection $4.95B $4.32B** $2.10B $1.78B $1.25B $1.22B $1.00B $934M t was a good year for the new economy, which entered 2010 buoyed by big sales for big profits of local high-tech, venture-capital-funded firms, particularly the sale of Ann Arbor-based HandyLab Inc., a maker of medical devices, in late 2009 for $275 million to New Jersey-based Becton, Dickinson & Co. Not only did that sale bring big returns to local investors, and to employees owning stock, but it set off a cascade of activity that bolstered local entrepreneurship. Jeffrey Williams, the HandyLab CEO who was credited with turning around a longstruggling company when he took the top job in 2004, was named in January to replace Jennifer Baird as the CEO of Ann Arbor-based Accuri Cytometers Inc., which raised $27 million in development capital over the years. Baird later joined Ann Arbor-based Accio Energy Inc., a fledgling wind-energy company. The game of entrepreneurial musical chairs was seen as proof that Southeast Michigan is developing a roster of serial entrepreneurs who can build companies, create jobs and return profits. Williams Ted Dacko is another who fits that description. He grew Ann Arbor-based HealthMedia Inc. to where it could be sold to Johnson & Johnson in 2008. In July he joined Ann Arbor startup InfoReady Corp. as a consultant helping with sales, marketing and equity fundraising. Other news on the year: In March, the New Economy Initiative approved the creation of a $5 million investment fund, the First Step Fund, to target startup companies for seed funding of $50,000 each. Ann Arbor VC funds Resonant Venture Partners LLC and Huron River Ventures LLC were founded. In July, Pittsburgh-based iNetworks Advisors Inc., said it had received about $15 million in commitments to what it hopes will be a $20 million fund to invest in health and life-science companies. In September, the Renaissance Venture Capital Fund I LP announced a final close of $10 million to bring the fund of funds’ total to nearly $50 million. In October, the Michigan Women’s Foundation announced it had begun raising an angel fund to support woman-owned startups. In November, Ann Arbor-based NanoBio Corp. announced it had received a grant of $6 million from the Bill & Melinda Gates Foundation. And Dan Gilbert has launched venture capital firm Detroit Venture Partners LLC with Josh Linkner of ePrize and Brian Hermelin of Rockbrige Growth Equity LLC. — Tom Henderson E-cars lead charge The efforts to electrify cars also created a new industry in 2010. Hinged on loans and grants from the U.S. Department of Energy and Michigan Economic Development Corp. tax credits, lithium-ion battery manufacturers started production in Michigan. Watertown, Mass.-based A123 Systems LLC opened manufacturing plants in Livonia and Romulus and supplies lithium-ion packs to Fisker Automotive Group, BAE Systems Inc., Daimler AG, Eaton Corp. and Shanghai Automotive Industry Corp. A123 is backed by a $249 million DOE loan, $125 million in incentives from the state’s 21st Century Jobs Fund and $391 million from an initial public offering. Ann Arbor-based Sakti3 Inc. received $11.2 million in funding from various sources, including Farmington Hills-based Beringea LLC. The MEDC and the DOE also backed a Johnson Controls Inc. battery plant in Holland and a Dow Kokam plant in Midland. Entrepreneurs also created an industry around making charging stations. Livonia-based architect Jim Blain, CEO of James Blain & Associates Inc., created PEP Stations LLC, to design charging stations for use at buildings. Roseville-based Shocking Solutions LLC distributes charging stations in Michigan, Indiana and Ohio made by Campbell, Calif.-based Coulomb Technologies Inc. Shocking will supply six charging stations to Meijer Inc. for stores in Allen Park, Warren and Holland. Waterford Township-based ChargeNow LLC will install them, two at each store. Southfield-based Lear Corp. and Auburn Hillsbased Delphi Automotive LLP are also entering the charging station market. — Dustin Walsh Health care The biggest stories of 2010 in health care happened early in the year when Detroit Medical Center announced in March that it had agreed to be purchased by for-profit Vanguard Health Systems Inc. in a $1.5 billion deal. Soon after, Henry Ford Health System announced it planned a $500 million expansion of its main hospital campus and would seek $500 million from developers to revitalize the New Center neighborhood. But overriding all business deals was the approval in March of the federal health care reform bill, which is expected to cut the numbers of uninsured from 16.7 percent in 2010 to less than 6 percent starting in 2014. To pay for reform, new taxes will be imposed on health insurers, drug companies, medical device makers and individuals making more than $250,000. Hospitals also are expected to deal with Medicare reimbursement cuts of $155 billion over the next 10 years. Many hospitals now are seeking efficiency improvements, mergers or affiliations. Physicians, stung by declining reimbursement and rising operating costs, have been seeking employment at hospitals or the financial safety of larger physician organizations. The convergence of these trends has led to many merger and affiliation talks, including: Oakwood Healthcare expanded its physician employment and office support division and began work to create an accountable-care organization; IHA, a 150-physician organization in Ann Arbor, announced it planned to merge Dec. 31 with St. Joseph Mercy Health System to form an ACO and double in size; and Henry Ford Health System in Detroit also formed the Henry Ford Physician Network, an ACO. William Beaumont Hospitals reorganized to incorporate greater physician involvement, and the University of Michigan Hospitals and Health Centers plans to create a statewide health system. — Jay Greene H.W. Kaufman Financial/Burns & Wilcox $850M Wolverine Packing $820M *Family members in management with relation to the first-generation owner. **Percent of business family owned: Terence Adderley owns or controls 93 percent of Kelly’s Class B shares with voting power. Adderley also owns 13 percent of the company’s nonvoting Class A stock. NEED REPRINTS? Reprints of any of the lists in this book are available by calling (800) 290-5460, ext. 125 or e-mail ashley.zander@theYGSgroup.com. And Here Is Your Best Reason: All We Do Is Fight Cancer. Farmington Hills • At the Detroit Medical Center • Rochester Hills In partnership with Wayne State University NEW ECONOMY/HEALTH CARE

Table of Contents for the Digital Edition of Crain's Detroit Business - 2011 Book of Lists

Crain's Detroit Business - 2011 Book of Lists
The Big Picture
10 things to watch in 2011
10 things to remember about 2010
Private 200
Fastest-growing companies
Public school districts
Top-compensated CEOs
Top-compensated non-CEOs
Metro Detroit employers
Wayne County employers
City of Detroit employers
Livingston County employers
Washtenaw County employers
Macomb County employers
Oakland County employers
Publicly held companies
Hispanic-owned businesses
Native American-owned businesses
Asian-owned companies
Black-owned businesses
Woman-owned businesses
The Motor City
Airlines Serving Detroit Metro
Professional Sports Teams
Auto Suppliers
Auto Dealers
Aftermarket Suppliers
Divisions
Defense Contractors
New Economy/Health Care
Family-owned companies
IP law firms
Group health plans
Hospital companies
Physician organizations
Graduate business degrees
Engineering companies
Environmental companies
IT companies
Biotech companies
People/Awards
Salute to Entrepreneurs
CFO Awards
40 Under 40
Best Lawyers
20 in their 20s
Women to Watch
M&A Awards
Most Connected
Finance
Capital campaigns
Accounting firms
Banks and thrifts
Money managers
Business insurance agencies
SBA Lenders
Real Estate/Services
Office furniture dealers
Nonprofits
Meeting facilities
General contractors
Architects
Property managers
Residential brokers
Staffing companies
Logistics firms
Law firms
Classifieds
Index of Companies

Crain's Detroit Business - 2011 Book of Lists