Hartford Business Journal

4 Hartford Business Journal • October 8, 2018 • www.HartfordBusiness.com Week in Review Briefs CVS pledges to keep Aetna in Hartford for 10 years CVS Health has made some big promises to Hartford if its $69 billion purchase of Aetna gets regulatory approval. CVS says it will keep Aetna's headquarters in Hartford for 10 years, keep staffing levels at approximately 5,291 employees for at least four years, and honor Aetna's previous promise to donate millions of dollars to help the city of Hartford stabilize its finances. CVS, which is waiting for state and federal approval of the deal, would honor those promises, barring a sale of the company. Eversource extends Hartford Marathon sponsorship Eversource Energy has extended its title sponsorship of the Hartford Marathon through 2022, the utility said. Eversource and the Hartford Marathon Foundation announced the extended partnership at a kick-off event for this year's 25th annual race on Saturday, Oct. 13. The partners have annually drawn over 10,000 participants, 2,100 volunteers and tens of thousands of spectators since inking the title sponsorship in 2014. D.C. judge deals setback to East Windsor casino A federal judge dealt a significant blow to the ability of the Mashantucket Pequot and Mohegan tribal nations to jointly build a casino in East Windsor. In a 58-page decision filed Sept. 29, Judge Rudolph Contreras of the U.S. District Court of the District of Columbia ruled that Connecticut and the Mashantucket Pequots have no legal standing to compel Department of the Interior Secretary Ryan Zinke to accept revisions to the state's existing gambling agreement with the tribes. Connecticut's authorization of the East Windsor casino in 2017 was contingent on Interior accepting the revisions as a means to guarantee the new project would not jeopardize the state's current revenue-sharing deal with the two tribal casinos, Foxwoods and Mohegan Sun. Without Zinke's approval, the East Windsor project is blocked indefinitely. Mark Pazniokas | CT Mirror Hartford HealthCare's St. Vincent's acquisition takes next step Hartford HealthCare says it has taken the next step in acquiring St. Vincent's Medical Center in Bridgeport after reaching a definitive agreement Oct. 1. HHC had signed a nonbinding letter of intent in March, agreeing to acquire St. Vincent's Medical Center and its subsidiaries, which includes over 3,200 employees, a 473-bed community teaching hospital and a 76-bed inpatient psychiatric facility in Westport. Terms of the deal have not been disclosed, but HHC will continue operating St. Vincent's as a Catholic institution. St. Vincent's would become HHC's seventh hospital and its second largest after 867-bed Hartford Hospital. CERC's Santy to retire next year After a dozen years at the helm of the economic development nonprofit Connecticut Economic Resource Center, Robert Santy plans to retire next year. CERC, based in Rocky Hill, said Santy made the announcement at a recent board meeting. Tolland's Gerber buys Wisc. company Tolland-based Gerber Technology has acquired a Wisconsin provider of hardware and software products for the sign, graphics and packing markets. Gerber, which provides equipment and services to over 78,000 customers in myriad sectors, said it acquired MCT Digital Inc. of New Berlin, Wisc., adding modular laser-cutting technology to its services portfolio. TOP STORY DOJ: UTC must divest Rockwell Collins business lines ahead of $30B purchase T he U.S. Department of Justice said it has reached an agreement to allow United Technologies Corp. to buy Iowa-based aviation systems maker Rockwell Collins for $30 billion as long as the Farmington-based conglomerate makes certain divestitures. The DOJ determined that without the selloffs, the deal would substantially curb competition for pneumatic deicing systems for aircraft wings and actuators that help aircraft maintain proper altitude. Only one other company makes that specific type of deicing system, while UTC and Rockwell are also each other's biggest competitor in the actuator market, according to the DOJ. The agency filed a lawsuit in Washington, D.C. federal court Oct. 1, laying out its case as well as a proposed settlement order to resolve it. DOJ said UTC's compliance with the order would allow it to proceed with the deal, announced more than a year ago. In a statement, UTC said it will comply with DOJ's request and hopes to complete the deal soon. BY THE NUMBERS $271,500 The median price of a single-family home sold during the month of Au- gust, which was up 2.4 percent from a year earlier, according to the Warren Group. $19,616 The average cost of U.S. employer health coverage for a family plan this year, which is up 5 percent from 2017, according to the Kaiser Family Foundation. 2,393 The number of new business estab- lishments registered in Connecticut in 2017, a 2 percent increase from a year earlier, according to state labor officials. 5,291 The approximate number of Aetna employees CVS Health said it will keep in Hartford for at least four years if its $69 billion purchase of the health insurer is approved. TOP 5 MOST READ On HartfordBusiness.com • 1. Downtown Hartford's Sarah's Coffee House files Ch. 11 bankruptcy • 2. DOJ: UTC must divest Rockwell Collins business lines ahead of $30B purchase • 3. It's not a trick question: Which governor is to blame for top two tax hikes in CT history? • 4. CVS pledges to keep Aetna in Hartford for 10 years • 5. Report: Malloy accepts visiting professorship at Boston College Law School STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe UTC is one step closer to finalizing its $30 billion Rockwell Collins purchase. PHOTO | HBJ FILE Robert Santy, President and CEO, Connecticut Economic Resource Center

• Cover