Worcester Business Journal

wbjournal.com | February 19, 2024 | Worcester Business Journal 7 filed on Feb. 8. e company's revenue decreased 5.7% for the first quarter of fiscal 2024, with diagnostics-related revenue declining 19.9%. Hologic expects to close some of its facilities in 2024 as a result of changes in business strategies and the discontin- uation of sale of certain products, the company said in its SEC filings. e company said total severance benefits related to this action will be approximately $4 to $8 million and expects the restructuring to be complete by the end of 2024. e filing didn't specify where or when the layoffs would take place, except they are part of a restructuring of its diagnostics division, which has been losing money due to a drop in sale of COVID tests. When contacted by WBJ, Bridget Perry, director of divisional communi- cations for Hologic, said the company's restructuring plans involve certain international locations, but declined to give further details. e company has begun discussions with relevant work councils regarding the closures and the impact on em- ployees, according to the SEC filings. Work councils are a group of employees delegated by others to represent their interests to their employers. is form of organized labor is most commonly found in European countries. Hologic has locations in 11 European nations. Work councils are also obligato- ry in Brazil, where Hologic has a facility. e company has additional interna- tional locations in Costa Rica, Canada, Asia, and Oceania. Hologic closed its Danbury, Con- necticut facility in April 2022 and transferred manufacturing services there to its locations in Marlborough and Delaware. e company expects this transition to be complete by the third quarter of fiscal 2025. In total, Hologic terminated approx- imately 128 employees in fiscals 2022 and 2023, according to its 2023 annual report to the SEC. For its first-quarter financials, despite the decrease in overall revenue, Hologic Chairman, President and CEO Stephen MacMillan expressed satisfaction with the company's performance, focusing on growth the company has seen outside of its COVID-related products. "We estimate our organic growth rate ex. COVID-19 was in the high single digits, highlighting the bigger, faster, stronger Hologic we are today," MacMil- lan said in a Feb. 1 press release accom- panying the first-quarter earnings. W ngrid.com/takechargeprogram Time to install public EV charging. Great incentives and rebates available now. Increase your property's curb appeal. 23-NATEV-1012_EVCommPrintAdPub_WBJ_v2_013024.indd 1 1/30/24 2:49 PM Saint Vincent's reputation has been damaged At the end of January, the Massachusetts Nurses Association labor union said at a press conference it had filed 600+ complaints against Saint Vincent Hospital in Worcester with state and federal regulators, over concerns about low-staffing levels and the well-being of nurses and patients. MNA claimed Saint Vincent retaliated against some nurses for speaking out. The move came after a 301-day strike by the MNA nurses at Saint Vincent in 2021 and 2022, which largely centered around patient-to-nurse staffing ratios, a core issue for the MNA statewide. When polled online, the majority of WBJ readers said the moves by the MNA will impact the hospital's reputation. Will the nurses' complaints against Saint Vincent impact the Worcester hospital's reputation? READER COMMENT: "Saint Vincent is undoubtedly a high-quality institution with an excellent professional and support staff. With that said, Tenet's approach to nurse staffing, much like other large proprietary health systems, relies on formulas and system wide benchmarks that fail to adequately account for the unique variables of individual hospitals." No, this feels more like a publicity stunt by the labor union. No, overall Saint Vincent is a high-quality healthcare provider. Yes, this will impact people's willingness to work or receive care at Saint Vincent. Yes, although the impact will be short term. 24% 11% 50% 15% Stephen MacMillan, CEO and president of Hologic

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