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Altarum spins off defense biz; focus now on health care.(News)(University of Michigan, Altarum Institute )
Crain's Detroit Business, April, 2006 by Begin, Sherri
Byline: Sherri Begin Since its early beginnings at the University of Michigan, Altarum Institute has kept a low profile. Now it's shifting away from its defense-research roots to focus on a very public problem - health care. Altarum has spun its defense-research division into the for-profit subsidiary NewVectors L.L.C.
As a for-profit, NewVectors won't have to perform work at below cost for some customers, and so will be able to offer its other customers lower prices. The ability to compete more aggressively on pricing will help it increase its revenue more quickly and, ultimately, its value, said NewVectors CEO Deane Stanley. Nonprofits "are asked to do an awful lot of do-good works,'' said Stanley, who was president of NewVectors when it was the...
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