Excela combining services

Beginning in July 2008, Excela Health plans to consolidate inpatient pediatric care and labor and delivery services at its Westmoreland Hospital campus, officials for the health system said yesterday. Currently, those services also are provided at Latrobe Hospital. At the moment, no positions are being eliminated, and staff will be involved in determining needed personnel levels and other details of the consolidation, officials said. Trends in population growth and demographics led to the decision, according to Excela, which operates the two facilities and Frick Hospital.

Approval for 2 Mylan drugs

Mylan Laboratories said yesterday that the Food and Drug Administration approved the fifth strength of the fentanyl transdermal system, a pain patch that is the generic version of the Duragesic patch, which is sold by Ortho-McNeil. Mylan said it was the first generic drug maker to offer all five dosage strengths of the patch. Separately, Mylan said it received tentative approval to market valacyclovir hydrochloride tablets, the generic version of GlaxoSmithKline's Valtrex. The drug is used to treat genital herpes.

Good start for local IPO

Shares of HFF Inc., a Pittsburgh-based company serving the commercial real estate industry, rose yesterday in their first day of trading, closing at $18.70, up 70 cents. The company sold 14.3 million shares priced at $18 and gave underwriters the option of selling an additional 2.1 million shares. HFF had net income of $31.7 million on revenue of $156.5 million in the first nine months of last year. It provides debt placement, structured finance, loan servicing and other services.

FedFirst posts small loss

FedFirst Financial Corp. of Monessen reported a fourth-quarter net loss of $34,000, or 1 cent per diluted share, vs. a loss of $505,000 a year ago. For 2006, net income totaled $409,000, or 6 cents per diluted share, vs. a net loss of $102,000 for 2005. Per-share earnings for 2005 are not available because the company was privately held until its shares began trading publicly last April 6.

Also in business ...

Kennametal said it completed the acquisition of the cutting tool business of Federal Signal Corp. ... Michael Baker Corp. won a $9.8 million contract from the Pennsylvania Department of Transportation to manage and inspect the $130 million reconstruction of portions of U.S. Route 15 and Interstate 81 in Cumberland County ... IGate Corp. said it opened a 900-person facility on the campus of its offshore subsidiary, iGate Global Solutions, in Bangalore, India. The facility cost about $6.5 million and will house a staff of technology and business consultants.