Business news in brief
In the Region
Noble grows to 1,800 doctors
Noble Health Alliance, a venture founded last year by Abington Health, Aria Health System, Crozer-Keystone Health System, and the Einstein Healthcare Network, said that two physicians groups have joined the organization. The addition of 64 doctors from Premier Orthopedics and Cardiology Consultants of Philadelphia means that the Noble Health network now has more than 1,800 primary care physicians and specialists in Southeastern Pennsylvania. Without formally merging their operations, Noble Health is attempting to build a clinically integrated network of doctors and health systems to better coordinate and manage health care. - Harold Brubaker
76ers partner with DraftKings
The winless Philadelphia 76ers signed a marketing agreement with DraftKings Inc., one of the top competitors for the National Basketball Association's official one-day fantasy sports partner, FanDuel Inc. The agreement is DraftKings' first with an NBA team, as the Boston-based company last month became the official daily fantasy game of the National Hockey League and also has partnered with the Denver Broncos and the New England Patriots in the National Football League. DraftKings, which said it will pay out more than $200 million in winnings this year, becomes the presenting sponsor of the 76ers' official website, online newsletter and mobile application. - Bloomberg News
Construction contracts soar
Construction contracts awarded through October in an 11-county region including Philadelphia were up 54 percent from the same period a year ago, say researchers at McGraw Hill Construction. Contracts for the 10-month period in 2014 totaled $5.3 billion, the firm said. That figure comprises nearly $3.2 billion in nonresidential contracts - a 63 percent increase from 2013 - and $2.1 billion in single family and multifamily housing - a 42 percent increase, McGraw Hill said. - Reid Kanaley
Hershey: corn syrup vs. sugar
Hershey Co. is looking at replacing the high-fructose corn syrup in some of its products with sugar. Will Papa, chief research and development officer at Hershey, said the company uses a mix of sugar and high-fructose corn syrup in its products but that it is "moving more toward sugar." Many people say they avoid corn syrup because it has gained a bad reputation for fueling weight gain and diabetes, though health experts say there's not enough evidence to conclude it's any worse than regular sugar. A representative for Hershey, Jeff Beckman, cited Almond Joy, Fifth Avenue, Take 5 and York as examples of products that use corn syrup. He said classic Hershey bars are made with sugar. - AP
$37K paid in Medicare-bill case
Manoa Fire Co., a volunteer force in Havertown in operation since 1925, agreed to pay $36,912 to settle allegations that it improperly billed Medicare for ambulance services on at least 30 occasions between July 2007 and September 2013, U.S. Attorney Zane David Memeger announced. The nonprofit denied wrongdoing, the settlement agreement said. Government officials alleged that four volunteer ambulance attendants with Manoa did not have the advanced first-aid certification that is required in order to bill Medicare for basic life support ambulance trips. - Harold Brubaker
PMV Pharma raises $30M
Cancer-treatment developer PMV Pharmaceuticals Inc., whose research and development operations are in Doylestown, said it raised $30 million in a funding round led by New York-based OrbiMed, with participation by Osage University Partners and InterWest Partners. PMV is headquartered in Redwood City, Calif. - Reid Kanaley
Elsewhere
Wide targeting by Iran hackers
Hackers working for Iran have targeted at least 50 companies and government organizations, including commercial airlines, looking for vulnerabilities that could be used in physical attacks, cyber-security firm Cylance Inc. said. In the U.S., computers belonging to chemical and energy companies, defense contractors, universities and transportation providers were hacked in what Cylance dubbed Operation Cleaver. The Cylance report said the Iranian group is the same one that breached the U.S. Navy's unclassified computer system in September 2013. - Bloomberg News
IPod jurors see Jobs' e-mails
Jurors in a class-action lawsuit against Apple Inc. on Tuesday saw e-mails from late CEO Steve Jobs and his top lieutenants that show Jobs was determined to keep Apple's popular iPod music players free from songs that were sold by competing online stores. In opening statements, attorneys for consumers and iPod resellers told jurors that Apple acted unfairly to freeze out competitors and thus sell iPods at inflated prices. But Apple lawyers told the jury that the tech giant only wanted to maintain the integrity of its own software, which worked best without digital music or other code from outside sources. - AP
Amazon borrows $6 billion
Amazon.com Inc. sold its biggest bond offering as the online retailer pours money into drones, television programming and smartphones. Amazon issued $6 billion of notes in five parts, according to data compiled by Bloomberg. CEO Jeff Bezos has emphasized spending big and counting on sales growth over earning a profit. - Bloomberg News