Worcester Business Journal

10 Worcester Business Journal | May 27, 2019 | wbjournal.com P O W E R 5 0 M A N U F A C T U R I N G Swati Elavia PRESIDENT MONSOON KITCHENS, INC., SHREWSBURY Valentin P. Gapontsev, Ph.D. CHAIRMAN & CEO IPG PHOTONICS CORP., OXFORD Shantanu Gaur CO-FOUNDER & CEO ALLURION, NATICK Residence: Boston Colleges: The Maharaja Sayajirao University of Baroda; the University of North Carolina, Greensboro Elavia is the reigning Small Business Person of the Year in Massachusetts for the U.S. Small Business Adminis- tration, due largely to the growth potential at Monsoon, which wholesales U.S.-made Indian food to college and corporate cafeterias and is making the move to grocery-store shelves. Elavia capitalized on the growing trend of vegetarian food and authentic international cuisine by marketing her products to college-aged adults and young professionals. Since 2003, Elavia has grown Monsoon about 400% as it nears $5 million in annual sales. To keep her benefits local, Elavia uses Central Mass. suppliers and vendors and hosts offsite meetings at local restaurants. Where is Central Mass. headed? e technology and healthcare sectors will help bring highly educated folks into the community, who will increase diversity, im- prove public schools, and grow the variety of businesses. Treat yo self: When I first came to the U.S. and was a graduate student, I had very little money. I used to treat myself to a Burger King Whopper sandwich or a choco- late-dipped cone at Dairy Queen every time I got an "A" grade in my exam. irty years later, I do the same when I get a piece of business I have worked hard for. Residence: Worcester Colleges: Lvov Polytechnic Institute, Moscow Institute of Physics and Technology Gapontsev didn't have the greatest year in 2018, as he lost $1.2 billion in net worth, according to Forbes, due to the hit IPG took in its stock price, as the U.S. trade war with China eats into IPG revenues and Wall Street remain wary of the company. Gapontsev remained embroiled with the U.S. Department of the Treasury over his listing as a Russian oligarch, which he and IPG have sued the government over since they say it impedes the company's ability to do business. Still, IPG did increase its revenues by 16% in 2018, hitting a record $1.46 billion. It global headcount increased 13% to 6,231 employees and in Central Massachusetts provides 1,750 jobs, a 17% increase from last year. e company is embarking on a global expansion and has spent $76 million on real estate in Oxford and Marlborough alone, as it plans to grow its presence beyond its Oxford headquarters. e company remains committed to community programs like hosting interns from regional high schools, funding local food banks and providing equipment to the Oxford police and fire departments. And it's not like Gapontsev is going begging either: Despite losing $1.2 billion in net worth, Forbes says he is still valued at $1.8 billion. Residence: Dover Colleges: Harvard College, Harvard Medical School At a time when the U.S. Centers for Disease Control & Prevention says roughly two out of five American adults are obese, helping people lose weight is a major challenge for the healthcare industry. At the 100-em- ployee company Allurion, Gaur is leading a firm that's already developed a weight-loss product used in 12 countries in Europe and the Middle East and treated 10,000 people. e Elipse Balloon is swallowed in a capsule and filled through a catheter with fluid to expand to around the size of a fist – about half of a stomach. Compared to lap-bands or other weight-loss devices, the Elipse is swallowed during a brief office visit without a procedure, and aer four months, a polymer on one end of the balloon wears away, causing the balloon to deflate and then pass naturally through the body. Allurion is hoping for U.S. Food & Drug Administration approval by 2020 and has raised $50 million in private financing. Where is Central Mass. headed? Healthcare innova- tion has become the lifeblood of the economy. Central Mass. stands to contribute valuable human, financial and social capital to the state's healthcare ecosystem. The pen is mightier than the keyboard: Writing letters is a lost art, and I write one to someone every year! Mike Mahoney CHAIRMAN & CEO BOSTON SCIENTIFIC, MARLBOROUGH Shacey Petrovic DIRECTOR, PRESIDENT & CEO INSULET CORP., ACTON Bruce Platzman PRESIDENT & CEO AIS, LEOMINSTER Colleges: University of Iowa, Wake Forest University Since 2012, Mahoney has been at the helm of med- ical device giant Boston Scientific, one of the largest companies in Mass., with 2,300 employees in the state and 32,000 worldwide. He has focused the company on the needs of the evolving healthcare landscape by driving improvements to patient outcomes and increasing efficiency and access. Since he's joined the company, revenue has jumped 36% to $9.8 billion and profit has risen from $441 million to $1.6 billion. Boston Scientific has spent billions on acquisitions to strengthen its product profile. In 2018, the firm spent $5.6 billion on acquisitions, and this year announced a planned $465-million purchase of a California biotech company specializing in lumbar spinal stenosis. Along with that financial success is the happiness of employ- ees, as the company has found itself on Forbes' list of America's best employers. He serves on the boards of Illinois healthcare company Baxter International and Boston College's CEO Club. He is a member of the American Heart Association CEO roundtable. Teamwork: "Perhaps one of the most important met- rics in a company beyond the financials is employee engagement. I'm very proud of the high engagement levels we have across the business, the extra effort our employees make, and the teamwork they demonstrate to deliver for patients who really need our solutions." Residence: Concord College: University of Wisconsin Petrovic has taken a publicly traded company valued at $6.2 billion to new heights in a short amount of time. Petrovic took over for former CEO Patrick Sullivan at the beginning of 2019 aer working at chief commercial officer and then chief operating officer for Insulet, an insulin delivery device manufacturer. rough her first few months, Petrovic has overseen the move from Billerica to a $200-million manufacturing facility and headquarters in Acton. e company's stock price has risen more than 40% since the start of January. e first quarter of 2019 – Petrovic's first as CEO – was one of the company's best, posting a 29% increase in reve- nue and a profitable first quarter aer recording a loss for the same period in 2018. She is the only female CEO of a Central Massachusetts public company. Insulet is an active member of the Acton community, donating time and employees to public park restoration projects, organizing food and toy drives, and supporting fundraising drives. Where is Central Mass. headed? ere is such strong po- tential for growth here. We chose Acton for our highly-au- tomated U.S. manufacturing facility because we recognize the remarkable resources here, primarily in terms of talent. Tour de Portugal: I have traveled to more than 30 coun- tries. My husband and I recently completed a week-long bike trip through Southern Portugal, touring castles, wineries and historic monuments. Residence: Bolton College: Babson College Platzman has led furniture manufacturing firm AIS for 30 years, including its move to a formerly vacant 537,000-square- foot building in Leominster in 2017 aer operating out of several smaller buildings in Hudson. Since that move, AIS has become a model of job creation, diversity, corporate giving and product diversity. More than 600 jobs have been brought to Leominster, and more than 200 of those are filled by women. Over that time, the unemployment rate in Leominster has dropped from 11% to less than 5%. e company has served as a sponsor for the Fitchburg Art Museum and the Fitchburg Civic Day and held quarterly blood drives for the American Red Cross. Platzman serves on the board of Make- A-Wish Massachusetts and Rhode Island, and the company has donated nearly $700,000 in furniture for the remodeling of the Make-A- Wish Boston offices. Where is the Central Mass. community headed? With the tax incentives offered to companies to move to Central Massachusetts, I see an influx of companies coming this way. That's 417 six-packs: I have a collection of 2,500 beer cans from around the world.

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