Worcester Business Journal

wbjournal.com | June 26, 2023 | Worcester Business Journal 5 Spectrum Health Systems building new HQ in Westborough Worcester nonprofit Spectrum Health Systems, which specializes in mental health and substance use treatment, is set to open two new facilities in West- borough in 2024, including a new headquarters In addition to the new headquarters, the other facility will be an intake center for substance abuse treatment. Construction is underway for both build- ings, according to Boylston-based RP Masiello, the construction manager for the project. e new corporate headquarters for Spectrum will foster the organization's growth, according to the Masiello release, with additional space for expansion. It will be three-stories of executive and administra- tive office space, IT operations, and a training center. Spectrum lists its current headquarters as 12 Me- chanic St. in Worcester, according to its website. e nonprofit has 21 locations throughout Massachusetts, as far east as Lynn and west to Great Barrington. Spectrum didn't return requests for comment. e nonprofit already has an inpatient and residential facility in Westborough. e new Westborough intake center will be a two-story building, with a 24/7 urgent care clinic offering evaluations and admissions for those seeking substance abuse treatment, according to the press release. e second floor will host a day program and counseling office space. Akoya Biosciences terminates two C-suite executives, seeks $44M Marlborough firm Akoya Biosciences has eliminat- ed two C-suite positions as part of an initiative to cut its expenses, as it aims to raise $43.5 million. e company's chief people officer and chief med- ical officer were terminated on June 7. Marilee Moy joined Akoya as the chief people officer in January 2022, according to the company's website. Dr. Ehab El-Gabry became the inaugural chief medical officer at Akoya in April 2022. Akoya Biosciences did not respond to WBJ request for comment. e company is planning a public offering of 8.7 million shares of its stock at $5 per share, according to a June 8 press release. Akoya anticipates $43.5 million in gross proceeds, which will be used by the company for working capital and general corporate purposes, according to the release. Both Moy and El-Gabry are entitled to severance B R I E F S A rendering of the under-construction Westborough headquarters for Spectrum Health Systems "When You Don't Know Where You are Going, Any Road will Get You There..." -Lewis Carroll Strategic Planning is Essential in Building Business and Sustaining Long-Term Growth At ROCG, our experienced staff will be with you at every stage of your organization's development and business cycle, especially now as you look to work through the current economic environment. With more than 4 decades of proven experience, we have a unique understanding of family-owned and privately-held, small to medium-sized businesses. We offer customized solutions, not cookie cutter plans, and we know how to drive the results you need. We Help Business Owners: • Re-energize their business model • Develop a strategic plan to meet their long-term goals and financial lifestyle needs • Set milestones that work towards achieving the end goal • Successfully execute the strategic plan Want to learn more? Visit our website for more information, or to set up a no-obligation consultation, email or call us at (617) 412-4640 today. 617-412-4640 • americas.rocg.com ROCG - Shepherd & Goldstein Consulting Group, LLC Terry Shepherd Founding Partner Terence.Shepherd@rocg.com Matthew Allison Partner In Charge of S&G's Consulting Division Matt.Allison@rocg.com Today, profitability protection is a first priority. With our knowledge, technical expertise, entrepreneurial spirit and experience behind you, you'll have the tools, resources and services to successfully navigate through the rough waters that lay ahead. Continued on next page

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