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Community Bank Trust Services changes name to Nottingham Trust
DeWITT, N.Y. — Community Bank Trust Services, the personal trust and custodial services provider subsidiary of Community Bank System, Inc. (NYSE: CBU), underwent a name change in August to Nottingham Trust. The change comes almost a year after the creation of Nottingham Wealth in late 2022. Nottingham Wealth combined the financial planning and investment capabilities […]
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DeWITT, N.Y. — Community Bank Trust Services, the personal trust and custodial services provider subsidiary of Community Bank System, Inc. (NYSE: CBU), underwent a name change in August to Nottingham Trust.
The change comes almost a year after the creation of Nottingham Wealth in late 2022. Nottingham Wealth combined the financial planning and investment capabilities of Community Bank Trust Services and Nottingham Advisors into a single offering. Community Bank System, which is also parent of Community Bank, N.A., acquired Nottingham Advisors in 2000.
The name change better aligns the brands and services offered, says Charles J. Perrillo, Jr., president of Nottingham Trust. The company opted to use Nottingham instead of the Community name because it’s common in the footprint the company serves, and it wanted something different.
The change is also part of a strategy to build synergies between Community Bank System’s various wealth-management subsidiaries — Community Bank Trust Services, Nottingham Advisors, and The Carta Group, an estate-planning and wealth-protection firm.
Those synergies include sharing expertise across the three business lines to better serve clients and attract new ones, Perrillo says. Customers can expect the same high level of customer service they’ve always experienced, he adds.
“Traditionally, most of our business is self-sourced,” he says. Now, the firm hopes to cross market between the three entities to provide more services to existing clients. Additionally, existing customers that use one of them may have needs one of the other entities can serve as well, Perilla adds.
Nottingham Trust has offices in Olean, Hornell, Elmira, Oneida, Oneonta, Albany, and Potsdam in New York state, as well as locations in Scranton, Pennsylvania, and Williston and Manchester, Vermont.
Community Bank System’s wealth-management and employee-benefits businesses are collectively known as Community Bank Wealth Management (CBWM).
CBWM employs more than 120 people and has $8.5 billion in assets under management.

Addiction-treatment center opens in Auburn
AUBURN, N.Y. — Oswego–based Farnham Family Services is operating a new opioid-treatment program (OTP) in Auburn. The program provides a wide range of services for individuals impacted by addiction, the New York State Office of Addiction Services and Supports (OASAS) said in a Sept. 14 announcement. The services include medical assessments, medication for addiction including
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AUBURN, N.Y. — Oswego–based Farnham Family Services is operating a new opioid-treatment program (OTP) in Auburn.
The program provides a wide range of services for individuals impacted by addiction, the New York State Office of Addiction Services and Supports (OASAS) said in a Sept. 14 announcement.
The services include medical assessments, medication for addiction including methadone, counseling, and peer services.
The new OTP program is located at 13 Chapel St. in Auburn. OASAS provided $200,000 to support the creation of this program, the office said.
“As we continue to confront the worst overdose epidemic we’ve ever seen, expanding these services so that more people can access them is vitally important,” Dr. Chinazo Cunningham, OASAS commissioner, said in a news release. “By bringing these services to previously underserved areas, this new program will allow more people to access lifesaving services including medication for addiction, which is safe and effective and proven to save lives and keep people healthy.”
This program will “drastically cut down” on travel time for many people who need this type of care, OASAS contends. Previously, individuals in the area would have to travel an hour or more to access methadone.
This facility is part of a new initiative to increase OTP access in previously underserved areas and address the ongoing need for this type of treatment throughout New York State, OASAS said. This initiative is being funded through the federal Substance Abuse Prevention and Treatment block grant, the office noted.
“Farnham Family Services is honored to be welcomed into the Auburn community to make OTP services more accessible to individuals with opioid use disorder,” Eric Bresee, executive director of Farnham Family Services, said in the OASAS release. “This initiative would not have been possible without the support of OASAS, Counseling Help for Alcohol and Drugs (CHAD), Nick’s Ride for Friends and Cayuga County Mental Hygiene.”
The New York State Office of Addiction Services and Supports says it oversees “one of the nation’s largest” substance-use disorder systems of care with about 1,700 prevention, treatment and recovery programs serving over 731,000 individuals per year. It includes the direct operation of 12 addiction treatment centers where its doctors, nurses, and clinical staff provide inpatient and residential services to about 8,000 individuals per year.

Utica Mutual Insurance names new board member
UTICA, N.Y. — Tiffany L. Hawkins, COO of Momentum Advisors and founding partner of the Franklin Morgan Private Equity Fund, has been elected to the board of directors of Utica Mutual Insurance Company, the lead company of the Utica National Insurance Group. Hawkins joined the minority-owned wealth-management firm Momentum Advisors in 2014 as managing director
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UTICA, N.Y. — Tiffany L. Hawkins, COO of Momentum Advisors and founding partner of the Franklin Morgan Private Equity Fund, has been elected to the board of directors of Utica Mutual Insurance Company, the lead company of the Utica National Insurance Group.
Hawkins joined the minority-owned wealth-management firm Momentum Advisors in 2014 as managing director and was named COO in 2020. She directed the launch of a sister organization, a full-service, minority/women-owned insurance brokerage firm in 2019, serving as COO.
For the past three years, Hawkins has also served as co-host of Momentum Advisors, a SiriusXM radio show covering diversity in wealth and entrepreneurship.
She holds dual undergraduate degrees in communication studies and biological research and statistics from Morgan State University. Earlier in her career, Hawkins served in strategy, marketing, public relations, and business-development roles in a range of industries.
Hawkins has served as a board and committee member for multiple diverse organizations across financial advisement, diversity in the creative and technology sectors, social development, and franchisor advisory support. She is an investment manager for an organization supporting multicultural professionals and finance business manager for a social-justice media outlet. She is also an owner/franchisee of nine ZIPS Dry Cleaners and two fitness gyms.
Utica National Insurance Group is a group of insurance companies providing personal and commercial insurance products sold through more than 2,500 independent insurance agents. Utica Mutual Insurance Company, the lead company of the group, was founded in 1914. In addition to its New Hartford headquarters, the company has offices in Woodbury as well as Marlborough, Massachusetts; Columbus, Ohio; Richmond, Virginia; Duluth, Georgia; Richardson, Texas; and Des Plaines, Illinois.

Panera opens new location in Oakdale Commons
JOHNSON CITY, N.Y. — Panera Bread — a chain of about 2,000 bakery-café, fast-casual restaurants — has formally opened a new eatery in Oakdale Commons at 615 Harry L Drive, bringing another restaurant option to the revitalizing area. Frank Gatto, area operating partner, says he is excited to bring another Panera location to the greater
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JOHNSON CITY, N.Y. — Panera Bread — a chain of about 2,000 bakery-café, fast-casual restaurants — has formally opened a new eatery in Oakdale Commons at 615 Harry L Drive, bringing another restaurant option to the revitalizing area.
Frank Gatto, area operating partner, says he is excited to bring another Panera location to the greater Binghamton region. He also operates a Panera on Vestal Parkway in Vestal.
While the Oakdale Commons location was already planned before Gatto took over as the area’s operating partner a little over a year ago, he’s excited about being there. Oakdale Commons is undergoing a transformation by owner Spark JC, LLC from a former indoor shopping mall to an entertainment and shopping district.
“It’s location, location, location,” Gatto says. “We’re right on a busy road.” The area is also home to a Wegman’s grocery store that will draw people to the area and a Dick’s House of Sport.
He’s hoping to draw in hungry shoppers looking for a meal that’s fast and different from the typical fast-food options. Panera specializes in soups, salads, and sandwiches, along with bakery treats.
Panera officially opened on Sept. 22 and is open Sunday from 7 a.m.-9 p.m. and Monday to Saturday from 6 a.m.-9 p.m.
The 3,800-square-foot restaurant can seat about 90 diners and also includes a drive-thru, a newer offering that has replaced the curbside pick-up service offered during COVID, Gatto says. He predicts the drive-thru will be a popular option for families.
“This gives them another avenue to stay in the car and get some food,” that isn’t the usual burger and fries, he says.
This Panera location employs between 60 and 70 people, mostly in part-time positions.
Gatto, who has been with Panera for about 20 years, also operates cafés in Auburn, Ithaca, Big Flats, Oneonta, and Amsterdam in upstate New York.
Panera Bread, based in the St. Louis, Missouri area, is privately held by JAB Holding Company, a German conglomerate based in Luxembourg that also owns Caribou Coffee, Krispy Kreme, and Einstein Bros. Bagels.

New York manufacturing activity bounces back in September
The Empire State Manufacturing Survey general business-conditions index rebounded into positive territory by rising 21 points in September to 1.9. The index had plummeted 20 points in August to -19 after declining six points in July to 1.1. The general business-conditions index is the monthly gauge on New York’s manufacturing sector. The September reading —
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The Empire State Manufacturing Survey general business-conditions index rebounded into positive territory by rising 21 points in September to 1.9.
The index had plummeted 20 points in August to -19 after declining six points in July to 1.1. The general business-conditions index is the monthly gauge on New York’s manufacturing sector.
The September reading — based on firms responding to the survey — indicates business activity “was little changed” in New York state, the Federal Reserve Bank of New York said in its Sept. 15 report. But it was a substantial improvement over the prior month where business conditions for manufacturers were deteriorating
A positive reading on the Empire State index indicates expansion or growth in manufacturing activity, while a negative number shows a decline in the sector.
The September survey report found 27 percent of respondents reported that conditions had improved over the month, while 25 percent said that conditions had worsened, the New York Fed said.
It also found that new orders and shipments increased.
Survey details
The new-orders index shot up 25 points to 5.1, and the shipments index also jumped 25 points to 12.4, pointing to an increase in orders and shipments.
The unfilled-orders index remained below zero at -5.2, “a sign that unfilled orders continued to decline,” the New York Fed said. Similarly, the inventories index came in at -6.2, indicating that inventories “contracted again.”
The delivery-times index ticked up to 2.1, suggesting little change in delivery times.
The index for number of employees came in at -2.7, indicating a slight decline in employment levels, and the average workweek index edged up to -5.0, indicating another monthly decline in hours worked.
The prices-paid index held steady at 25.8, pointing to little change in the pace of input price increases, while the prices-received index rose 7 points to 19.6, “signaling a modest pickup” in the pace of selling-price increases.
The index for future business conditions rose 6 points to 26.3, its highest level in more than a year, suggesting that firms have become more optimistic about future conditions.
New orders and shipments are expected to increase significantly in the months ahead, and employment is expected to grow. The capital-spending index edged down to 10.3, suggesting that capital-spending plans “remained somewhat weak.”
The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York state. On average, about 100 executives return responses.

Rekord Structures expands in Binghamton area after acquisition
BINGHAMTON, N.Y. — Rekord Structures, LLC purchased the Eureka! military and commercial tents product lines from Johnson Outdoors, Inc. earlier this year as it works to expand its operations in the greater Binghamton area and U.S. Formed in Poland more than 25 years ago, Rekord has focused on engineering and structural manufacturing of various structures
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BINGHAMTON, N.Y. — Rekord Structures, LLC purchased the Eureka! military and commercial tents product lines from Johnson Outdoors, Inc. earlier this year as it works to expand its operations in the greater Binghamton area and U.S.
Formed in Poland more than 25 years ago, Rekord has focused on engineering and structural manufacturing of various structures including long-term tension membrane structures. Eventually, that focus turned to the commercial and military markets, says Yuliia Nevmerzhytska, Rekord’s business-development manager.
The business grew across Europe and the company eventually turned its sights on the U.S. market, she says. To overcome the stumbling block of the U.S. Department of Defense requiring products manufactured in America, Rekord Structures began looking for manufacturing partners in the U.S., Nevmerzhytska says. That led to the company opening a U.S. location in Washington, Georgia.
Now Rekord is looking to grow its U.S. operations. Along the way, the company encountered Eureka!, which manufactures military, commercial, and camping tents, including in the greater Binghamton region.
“It turns out their produce line was so much more impressive,” Nevmerzhytska says.
While initial purchase offers were rebuffed, Rekord Structures eventually struck a deal with Johnson Outdoors to purchase the commercial and military lines, while Johnson Outdoors continues to produce Eureka! camping tents.
According to a press release from Johnson Outdoors, the $13.7 million deal closed on March 17 of this year. The sale does not include the Eureka! name. Rekord renamed the Binghamton business as InTENTional Systems.
The acquisition is huge in terms of growth for Rekord Structures, Nevmerzhytska says. “It pretty much doubled our catalog,” adding at least 40 new products to Rekord’s offerings.
While Rekord Structures focused on larger, more long-term structures, the InTENTional military products include small tents for one to four people and quick-deployment structures to its other offerings which include large-scale tents, aviation hangars, and base life-support systems. These base life-support structures are fully operational base camps that can accommodate anywhere from 100 to 20,000 people. Rekord can fully customize, deliver, and install a base camp complete with kitchen, laundry, bathroom, electric, and HVAC systems.
The former InTENTional commercial line includes large tents such as wedding canopies and pole tents.
While the Department of Defense and its primary vendors make up a large percentage of Rekord’s customers, Nevmerzhytska says the company is excited to expand the commercial offerings.
Rekord Structures employs 70 people in Binghamton, including 15 people hired since the acquisition, and is still hiring.
With about 400,000 square feet of manufacturing and warehouse space in Binghamton, Nevmerzhytska says the company is already looking for an additional facility in the area to give it room to expand. Rekord would like to double its space, she says, including a larger yard area for items that can be stored outside.
Over the next three years, the company hopes to double its U.S. business, and aims to do that by expanding toward the Central U.S. and west coast, Nevmerzhytska says.
“It’s been harder to operate in that area without facilities,” she says. Rekord does have a small warehouse in Texas.
Founded in 1998, Rekord Structures has more than 1,300 employees worldwide and four offices in the U.S.

N.Y. home sales continue falling in August with 19% decline
ALBANY, N.Y. — New York realtors sold 11,310 previously owned homes in August, down 18.8 percent from the 13,922 existing homes sold in August 2022. Pending sales also fell more than 11 percent, pointing to further declines in closed home sales in the next couple months. That’s according to the August monthly housing report that
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ALBANY, N.Y. — New York realtors sold 11,310 previously owned homes in August, down 18.8 percent from the 13,922 existing homes sold in August 2022.
Pending sales also fell more than 11 percent, pointing to further declines in closed home sales in the next couple months.
That’s according to the August monthly housing report that the New York Association of Realtors (NYSAR) issued on Sept. 21.
“Inventory of homes available across New York State shrunk once again as mortgage rates surged to a two-decade high in August,” NYSAR said to open its housing report.
NYSAR cited Freddie Mac as indicating interest rates hit their highest point in more than 20 years. The monthly average on a 30-year fixed rate mortgage rose from 6.84 percent in July to 7.07 percent in August. It represents the highest monthly average since December 2001, when the monthly average was also 7.07 percent. Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.
New York sales data
Pending sales totaled 10,826 in August, down 11.4 percent from the 12,218 pending sales in the same month in 2022, according to the NYSAR data.
As inventory continued falling, home prices continued to rise. The August 2023 statewide median sales price was $411,500, up 4.8 percent from the August 2022 median sales price of $392,620.
The months’ supply of homes for sale at the end of August stood at 3.0 months, down 9 percent from the 3.3 months of supply at the end of August 2022, per NYSAR’s report. A 6 month to 6.5-month supply is considered a balanced market, the association says.
The inventory of homes for sale totaled 27,686 in August, down nearly 27 percent from 37,865 in August 2022. It marks 46 straight months in which the number of homes available has declined in year-over-year comparisons, NYSAR said.
New listings of homes for sale fell 10.3 percent to 13,331 this August from 14,863 in the year-ago month.
All home-sales data is compiled from multiple-listing services in New York, and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.

VC firm partner sees opportunity with new Tech Garden office
SYRACUSE — A partner in ff Venture Capital (ffVC) is giving a thumbs up to its role as the first in-residence investor at CenterState CEO’s Tech Garden. Its operations at the Tech Garden also represent an upstate New York office for the New York City–based firm. The Tech Garden, operated by CenterState CEO, is home
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SYRACUSE — A partner in ff Venture Capital (ffVC) is giving a thumbs up to its role as the first in-residence investor at CenterState CEO’s Tech Garden.
Its operations at the Tech Garden also represent an upstate New York office for the New York City–based firm.
The Tech Garden, operated by CenterState CEO, is home to the Genius NY program, described as the world’s largest business accelerator for uncrewed aerial systems (UAS).
Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York.
To date, ffVC has invested in two Genius NY portfolio companies: CivRobotics and CarScanner.
“This partnership offers ffVC a unique opportunity to be actively engaged with some of the best mechatronic startups in the world, working with them to turn their products into thriving companies generating hundreds of millions of dollars in revenue,” Oliver Mitchell, partner at ffVC, said in the CenterState CEO announcement. “Central New York is a critical environment for launching uncrewed systems and offers a unique landing pad for international founders entering the United States. We are excited to deepen our efforts in the Upstate region, expanding our portfolio and presence in the fields of autonomy and mobility.”
Mitchell recently joined ffVC’s partnership to increase the firm’s focus in the automation sector and sits on the boards of portfolio companies Civ Robotics and Cambrian Robotics.
He has a track record as a serial entrepreneur and angel investor with recent exits in Ekso Bionics (NASDAQ: EKSO), NovoCure (NASDAQ: NVCR), and TripleLift.
Within the new partnership, ffVC will have an office at the Tech Garden and will be available to meet with Genus NY and Tech Garden members, “bringing potential new deal flow opportunities to the region,” CenterState CEO said in a news release.
Almost half of companies in Genius NY have gone on to raise follow-on funding from venture capitalists, with more expected. Each cohort year, companies are fundraising and seeking follow-on funding, making this partnership “crucial” for the continued growth and survival of startups, CenterState CEO contends.
“This partnership and the growth of venture capital and early-stage investment in the region is another sign of the strength of Central New York’s innovation ecosystem,” Kara Jones, director of Genius NY, said in the release. “This valuable new investment tool is part of [a] growing set of resources that will help entrepreneurs thrive here in our region.”
Founded in 2008, ffVC is an international venture-capital firm with offices and funds in the U.S. and Europe. The firm has been helping startup founders with funding and resources to launch technologies that “impact the lives of millions,” per the announcement.
Since its first investment in the drone space in 2014, ffVC has been an active investor in the automation industry, including such firms as Burro, Cambrian Robotics, Digital Twin, Lynq, Manna, PlusOne Robotics, SkyCatch, and Zenith Aerospace.
To date, Genius NY has invested more than $30 million in 32 startups, which have gone on to raise more than $100 million in follow-on funding, adding more than 80 new local jobs from teams, CenterState CEO said.
Finalists for the program’s seventh cohort are currently participating in the accelerator, and will compete for $3 million in direct investment, with one grand prize of up to $1 million and four $500,000 awards, at Innovation Night featuring GENIUS NY Pitch Finals, on Oct. 4.
“The decision by ff Venture Capital to open an office at The Tech Garden, home to the New York State-supported GENIUS NY accelerator, reflects the global success of this uncrewed aerial systems competition and the attention and private investment it’s attracting based on all that the Central New York region has to offer,” Hope Knight, president, CEO, and commissioner of Empire State Development said in the release.
Additionally, ffVC and Genius NY plan to continue to hold its annual Robotics and Drone Summit, with the goal of exploring how drones and robotics are impacting the construction, agricultural, transportation, supply chain, energy, aeronautics, consumer, and defense industries.
Last year, the summit was held in the fall in New York City and attracted more than 300 attendees including mechatronic entrepreneurs from across the world, leading investors, corporate innovation leaders, and curious customers.

Samaritan Medical Center expands ED secure behavioral health unit
WATERTOWN, N.Y. — The emergency department (ED) at Samaritan Medical Center in Watertown is undergoing a construction project to expand and enhance the care of psychiatric patients within the secure behavioral health unit (BHU). The hospital says it needs the expansion as the average daily census of patients has been “consistently exceeding” physical space. The
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WATERTOWN, N.Y. — The emergency department (ED) at Samaritan Medical Center in Watertown is undergoing a construction project to expand and enhance the care of psychiatric patients within the secure behavioral health unit (BHU).
The hospital says it needs the expansion as the average daily census of patients has been “consistently exceeding” physical space.
The project is set to cost $2.5 million and construction has begun, per its Sept. 22 announcement. The hospital expects crews to finish the project by the summer of 2024.
Samaritan leaders contacted the New York State Department of Health (DOH) about the unit’s physical constraints and then decided to seek emergency approval on a certificate of need that identified the space the hospital needs. The state DOH “quickly approved it,” Samaritan Medical Center said.
The construction effort will expand the area to a 12-bed secure unit to “meet the needs of the community” and the ED will have 29 medical beds.
To make room, the current coffee shop in the main lobby will move to a different space in the lobby. The hospital also plans to move physician office space and claim hallway space in the lobby area. The process will happen in a phased approach to limit the impact to current operations.
Explaining the need
The average daily census of psychiatric patients in the past 12 months has grown to about eight patients, with a high of over 20 patients at one time. The number “collectively exceeds” the secure unit and overflow capacity, which forces these patients into medical beds within the emergency department.
It results in two immediate impacts that include fewer beds to treat medical patients and the need for more staff members to watch psychiatric patients in these medical rooms with “inherent equipment and safety risks” in a traditional medical room, the hospital said.
Besides the increase in patient census, the patients, especially children, are waiting longer in the ED when they need hospitalization. The current physical space to help safely stabilize these patients is “not adequate” within the emergency department’s current behavioral health unit (BHU).
The increased number of adults and children in a “mental health crisis” can be attributed to many factors, but there is not one particular trend. The pandemic is certainly a newer factor with more stress, anxiety, isolation and breaks in outpatient care, Samaritan said.
Fundraising
The BHU expansion project’s cost of $2.5 million is not in the hospital’s budget for 2023 but has been “deemed necessary as a matter of patient safety concerns and to mitigate extra staffing needs.”
Samaritan Medical Center has identified “several” revenue sources, and it continues to look for grant dollars to help offset the construction cost, the organization said.
The Samaritan Foundation; Children’s Miracle Network of Northern New York; and Jefferson County have all committed funds totaling about $793,000.
The Samarian Foundation committed half of the net proceeds from its recent Thousand Islands Golf Tournament in June to the project for a total of just over $60,000. In addition, the foundation is going to dedicate proceeds from an event later this year, Festival of Trees, to the project.
The Children’s Miracle Network of Northern New York and its allocations committee designated $300,000 to the project because there is a direct pediatric-care need to this expansion.
On April 4, the Jefferson County Board of Legislators approved a request from Jefferson County Community Services to provide $430,000 to Samaritan Medical Center for this expansion.
The funds have been made available as a result of the New York State Attorney General’s successful litigation with several pharmaceutical companies. The $430,000 is designated to assist with the physical expansion of the behavioral health unit, which has had “dramatic” increases in opiate-related visits, Samaritan said.
The hospital will also use the funding to begin providing “lifesaving, medication-assisted” therapies to those who need medical assistance to begin their journey to recovery.

Oswego Health is using new molecular lab equipment
Deploys the cobas 5800 system OSWEGO, N.Y. — Oswego Health on Sept. 6 announced its purchase of the cobas 5800 system, which it describes as a fully automated molecular laboratory instrument. It offers a flexible PCR testing product to enable “accurate and reliable” diagnosis of infectious diseases, including chlamydia, gonorrhea, COVID-19, and HPV testing, Oswego Health
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Deploys the cobas 5800 system
OSWEGO, N.Y. — Oswego Health on Sept. 6 announced its purchase of the cobas 5800 system, which it describes as a fully automated molecular laboratory instrument.
It offers a flexible PCR testing product to enable “accurate and reliable” diagnosis of infectious diseases, including chlamydia, gonorrhea, COVID-19, and HPV testing, Oswego Health said in its announcement.
The system is built to offer a fully automated workflow and offers an expanded onboard capacity, allowing labs to test multiple assays simultaneously. It takes about 2.5 hours to produce the first 24 results. With 24 more results ready every 60 minutes thereafter, cobas 5800 has the capability of delivering up to 144 results in eight hours.
Oswego Health says it’s the fourth health-care system in the country to buy the cobas 5800 System. It didn’t disclose the purchase price.
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