GP Strategies: NERC Compliance and Training Services ($GPX)

To ensure system-wide reliability and achieve regulatory compliance, users and comprising entities of the bulk power system (BPS) need to adhere to numerous regulatory standards. As an outsider to the BPS, let’s become familiar with the system:

• A BPS is a large, interconnected electrical system made up of generation and transmission facilities and their control systems. A BPS does not include facilities used in the local distribution of electric energy. If the BPS is disrupted, the effects are felt in more than one location.
• The North American Electric Reliability Corporation (NERC), an institution that establishes and enforces reliability standards for the North American electrical grids, oversees BPSs in the United States. As the federally recognized Electric Reliability Organization (ERO), NERC creates annual and 10-year assessments for winter and summer forecasts; monitors the BPS; and educates, trains, and certifies industry personnel.

GP Strategies™ (NYSE: GPX) offers clients in the BPS market innovative solutions to manage and administer their NERC Compliance Administration Programs. The goal of this service is to integrate the program into an organization’s daily routines rather than placing compliance requirements as an additional layer to daily activities. GP Strategies understands the guidelines and standards required for compliance. Successful implementation helped our clients manage change in their organization to make NERC compliance easy. Using GP Strategies’ deep domain expertise, a client’s existing compliance processes and records are organized on to a comprehensive web-based platform. Preparation for audits is simplified through enhanced automation, controls, and smart electronic forms. The service provides benefits such as:

• Complete NERC compliance review
• Client-specific procedure and documentation development
• Instructor-led and web-based training programs designed to educate personnel on NERC compliance
• NERC audit preparation and support that not only identify issues, but also deliver recommendations needed to close any identified regulatory gap
• Management oversight review
• Industry and regulatory updates to keep pace with new compliance regulations

Additionally, while other solution providers are retooling to help BPS users address a specific NERC reliability standard, PER-005 (System Personnel Training), GP Strategies is already successfully providing compliance services and has been since its inception over 20 years ago. GP Strategies’ custom training development solutions help clients boost reliability, improve operator performance, and comply with PER-005 through the following services:

• Quick start assessment—a quick and affordable way to identify gaps in your current program as they pertain to PER-005 and develop a roadmap to compliance
• Job and task analysis—providing a strong foundation for curriculum design
• Compliant training program development—using a systematic approach that is customized to your processes, equipment, and culture
• Continuing education for system operators—developed by a NERC-approved provider
• Continual evaluation—performed annually to evaluate the program moving forward

Having a third-party assessment of your compliance program mitigates the chance of non-compliance during your NERC audit; non-compliance could lead to costly fines. Further, an assessment is only part of the complete process. If weaknesses or gaps are found, they need to be addressed quickly and appropriately. GP Strategies is one of the few training providers that employ compliance readiness experts and systems that are adept in both assessing your program and knowing the steps needed to remedy any issues that are identified. In addition, our deep understanding of NERC and the BPS not only helps achieve compliance, but also goes above and beyond to demonstrate exceptional performance and reliability.

What is hTEE ? with ImaCor's Dr. Scott Roth (video)

ImaCor is known in the cardiac industry as "The Clear Direction in Hemodynamic Management", and the company was founded in 2000 dedicated to improving patient care in the intensive care and perioperative areas of hospitals. ImaCor designs, manufactures and distributes advanced solutions for assessing and monitoring cardiac function in ICU and perioperative patients. 

In this film, ImaCor Co-Founder and Chief Medical Officer Scott L. Roth discusses the development of the world’s first imaging monitor that enables the assessment and monitoring of cardiac function in critically ill patients. The ClariTEE™, a miniaturized disposable TEE probe, enables direct visualization of cardiac function and can remain indwelling for up to 72-hours.

Dr. Scott Roth holds a B.A. in biology, summa cum laude, and an M.D. from Boston University. He completed his internship and residency in internal medicine at Montefiore Hospital and his cardiovascular disease fellowship at Long Island Jewish Medical Center. Dr. Roth has been practicing medicine for over 20 years and is affiliated with Long Island Jewish Medical Center, North Shore University Hospital, and the New York Hospital Medical Center of Queens. Dr. Roth maintained a private echocardiography practice for 20 years until taking over as CEO of ImaCor. Dr. Roth co-founded ImaCor and now serves as Chief Medical Officer. He has published a dozen articles in the fields of cardiology and echocardiography. He is a founding board member of the New York Echocardiography Society and was the former Director of Adult Echocardiography at the Harris Chasanoff Heart Institute at Long Island Jewish Medical Center.

Ventrus Biosciences Announces Positive Results From Pivotal Phase 3 Trial of Diltiazem (VEN 307) in Patients With Anal Fissures - $VTUS

Ventrus Biosciences, Inc. (Nasdaq:VTUS - News) today reported positive results from its Phase 3, randomized, double-blind, placebo-controlled clinical trial of diltiazem hydrochloride cream (VEN 307) in patients with anal fissures. Ventrus' development partner, S.L.A. Pharma, has completed most of the outputs for the statistical analysis plan of the Phase 3 trial, and Ventrus is pleased to communicate the data that they have generated.

The Phase 3 study randomized 465 subjects to diltiazem hydrochloride 4% or 2% w/w cream, or placebo, applied topically three times daily (TID) for 8 weeks, followed by a 4 week blinded observation period. Both 4% and 2% diltiazem treatment arms demonstrated significant improvements compared to placebo in the primary endpoint of average of worst anal pain associated with or following defecation (pain score improvement 0.44, p=0.0108, 4%; 0.43, p=0.0134, 2%) and in the secondary endpoints of overall anal-fissure-related pain (pain score 0.36, p=0.030, 4%; 0.40, p=0.0183, 2%) and anal fissure healing (32.7%, p=0.0181, 4%; 31.2%, p=0.0359, 2%). Pain endpoints were assessed using an 11-point numerical pain rating scale (Likert-like scale).

Adverse events (AEs) were similar for the three treatment arms. Gastrointestinal Disorders were the most common. Reports of headaches were similar in the three arms (14.7% of 4% diltiazem, 12.3% of 2% diltiazem, and 14.2% of placebo). There was one serious adverse event of surgery for hemorrhoid reported in this trial. The study was conducted in 31 centers in Europe by S.L.A. Pharma, the product candidate's licensor. Ventrus holds rights to diltiazem hydrochloride cream in North America.

Based on these results, Ventrus will request a meeting with the U.S. Food and Drug Administration (FDA) to discuss the Phase 3 diltiazem study, as well as steps to move forward toward a New Drug Application (NDA). Because diltiazem is approved in oral formulations for the treatment of angina and high blood pressure, it is eligible for the FDA's 505(b)2 registration pathway. The Company is also preparing to initiate a second pivotal Phase 3 study of VEN 307 in anal fissures in the second half of 2012.

"These results mark a watershed event for Ventrus, in that they highlight the potential for VEN 307 to be a treatment of choice for anal fissures and set off a potentially transformative period for the Company," said Russell H. Ellison, M.D., M.Sc., Chairman and Chief Executive Officer of Ventrus Biosciences, Inc. "The outcome of this study exceeded our expectations, demonstrating an improvement in all three measures of efficacy -- pain on defecation, average daily pain and healing -- results never before achieved in a single trial of a topical drug in this disorder. We look forward to next steps in the clinical and regulatory process, and to bringing VEN 307, as expeditiously as possible, to those suffering from anal fissures."

Dr. Ellison added: "We thank our partners and colleagues at S.L.A. Pharma for conducting a high quality, well executed study, and for their timely reporting of outcomes. These results come as Ventrus prepares for near-term pivotal data from a second pipeline product, VEN 309, in hemorrhoidal disease. Combined, these product candidates may represent very significant advancements for two of the most prevalent and underserved disorders in gastroenterology."

See the full press release.

GP Strategies to Attend 13th Annual B. Riley & Co. Investor Conference - $GPX

Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced that Scott Greenberg, Chief Executive Officer, and Sharon Esposito-Mayer, Chief Financial Officer, are scheduled to present at the 13th Annual B. Riley & Co. Investor Conference on Tuesday, May 22, 2012 at 2:30 pm PDT. The conference will be held at the Loews Santa Monica Beach Hotel in Santa Monica, California.  The presentation slides will be available on the Investors section of the company's website at http://investors.gpstrategies.com/events.aspx.

About GP Strategies

GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of sales and technical training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.

For further information: Scott N. Greenberg, Chief Executive Officer, +1-410-379-3640, or Sharon Esposito-Mayer, Chief Financial Officer, +1-410-379-3636, or Ann M. Blank, Investor Relations, +1-410-379-3725

Organic Growth and Successful Acquisition Strategy Result in Strong 1Q12 Results for GP Strategies $GPX

GP Strategies Corporation (NYSE:GPX) is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services. $GPX has offices located worldwide (2,500 employees) and is poised to capitalize on the growing shift towards e-Learning within the training industry as companies from a variety of industries shift from traditional in-person training to more efficient, flexible and convenient e-Learning applications.

The Company is organized into five business segments;

• Learning solutions (e-Learning, training BPO and training and curriculum development across a wide range of industries);
• Professional & technical services (e.g. training and technical services for manufacturing and petrochemical industries, design/build services in the alternative fuels industry and training and engineering services for government clients); 
• Sandy training & marketing (custom product sales training to auto industry); RWD (IT consulting and human capital management); and
• Energy services (products and services to electric power utility companies).

On May 3, 2012, $GPX reported strong financial results for 1Q12 with the following highlights:

• Reported 1Q12 diluted earnings per share (EPS) of $0.23 vs. $0.14 in the year-ago period w/ net income of $4.4M during 1Q12 compared to $2.6M in the year-ago period
• Reported 46% revenue growth to $93.6 M vs. $64.3M in the year-ago period
• Organic growth was achieved by all of the Company’s operating segments, resulting in total organic revenue growth of 13% for the first quarter of 2012 resulting from increased services to new and existing customers across a variety of industries
• Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 67% to $9.2M vs. $5.5M in the year-ago period, resulting in cash flow from operations of $7M during 1Q12
• As an example of successful acquisition strategy, RWD consulting business (which was acquired last April) contributed $17.7M of revenue during 1Q12
• As of March 3, 2012, reported cash/equivalents of $8.3M with no debt compared to $4.2M cash/equivalents and no debt at year-end 2011
• Approximately 19M shares of common stock outstanding on a fully diluted basis

The Company highlighted its successful strategic acquisition strategy in the highly fragmented $59.7 billion training industry (with 16 acquisitions completed since 2006) as a key element to the growing, record profit, revenue and cash flow (EBITDA) during 1Q12 as evidenced by the strong results in RWD consulting business which accounted for about 19% of revenue.

In addition, $GPX is poised to benefit from a resurgent US/global auto manufacturing industry with General Motors (NYSE:GM) representing the Company’s largest client (accounting for 7% of revenue during 1Q12) in addition to contracts with other US and global auto manufacturers for auto dealership sales training.

The Company entered the financial services sector with a major contract win in 2011, resulting in a new top 10 customer, and in early 2012, they won a large contract with another financial institution which is expected to become a top 20 customer. Most recently, the Company was awarded another contract from a financial services company for a pilot program in Europe.

The outlook for $GPX appears positive based on a 53% growth in contract backlog to a level of $212M at the end of 1Q12 compared to $139M in the year-ago period, with approximately 25% of the increase in year-over-year backlog due to organic growth. The Company continues to expand globally (as illustrated by recent contract awards in Europe) and also has exposure to the alternative fuel industry through its design/build of liquefied natural gas (LNG) fueling stations as an expected source of future growth and enhanced shareholder value.