Worcester Business Journal

6 Worcester Business Journal • April 27, 2015 www.wbjournal.com third-party, pre-clinical study had obtained favorable data for its surgical product, AC5 Surgical Hemostatic Device. The study compared AC5's effectiveness in controlling wound bleeding with the effectiveness of a branded, commercially available fibrin sealant. The AC5 device, designed to control bleeding and fluid loss during surgical procedures, contains a self- assembling peptide comprised of natu- rally occurring amino acids not sourced from humans or animals. The state- ment from Arch said that gives AC5 an advantage over commercially available fibrin sealants that use human blood products that are subject to contamina- tion, and that require freezing and mul- tistep preparation. WORCESTER — Hanover Insurance Group is transferring its United Kingdom motor business to Markerstudy Group, a U.K.-based insurance provider, the company announced. The approximately $60-million transaction — which is subject to regulatory approvals and other conditions — is expected to close in the third quarter. It's not expected to have a material impact on the Hanover's 2015 operating earnings, the statement said. WORCESTER — Standard & Poor's Ratings Services has upgraded from "stable" to "positive" its outlook for the College of the Holy Cross, citing sur- pluses and strong financial resources. It added that the rating could go higher if the college maintains demand metrics, operating surpluses, and financial resource ratios at current levels or bet- ter during the next one to two years. Standard & Poor's also affirmed its AA- long-term rating and underlying rating (SPUR) on Massachusetts Development Finance Agency bonds issued for Holy Cross. In addition, it affirmed its AAA/ A-1 dual rating on the agency's series 2008A bonds for the college. WORCESTER — UMass Memorial Medical Center is receiving more than $600,000 in state funds, part of a $12-million push to enhance MassHealth payment rates and improve the quality of service in behavioral health. The inter-agency funding agree- ment between the Massachusetts Health Policy Commission (HPC) and the Executive Office of Health and Human Services (EHS) aims to enhance Medicaid payments at "disproportion- ate share hospitals," according to a statement from the HPC. Hospitals with that designation serve a significant number of lower-income residents. The $12 million will be prioritized for chil- dren and adolescents. WORCESTER — Imperial Distributors of Worcester and Auburn is this year's Richard B. Kennedy Business of the Year, one of several awards announced by the Worcester Regional Chamber of Commerce. Others earning recognition include West Side Steak & BBQ, Worcester, which won Small Business of the Year; Skyscope Creative in Worcester is the Chamber's Entrepreneur of the Year; Percy's TV and Appliance, Worcester, won Family-Owned Business of the Year; and Jim Donoghue, owner of Tweed's Pub in Worcester was named Chamber Advocate of the Year. Also honored were SpencerBANK, Winn Companies of Boston; Commerce Bank, Crompton Collective and Maureen Raillo, president and CEO of WLimo, West Boylston, as Chamber Ambassador of the Year. WORCESTER — Medical companies swept The Venture Forum's Five- >> Continued from previous page REGIONAL BRIEFS Services Include: 265 Washington St. Hudson, MA 01749 978.562.0900 www.riomedical.net Call for your complimentary consultation • Botox/Dysport • Dermal Fillers (restylane, juvaderm, voluma, sculptra, radiesse, belotero) • Chemical Peels/Microdermabrasion • Spider Vein Treatment (injection and laser) • Cynosure Elite + Laser (hair, vessels, and pigmented lesions for all skin types) • Micropigmentation/ Permanent Cosmetics • Lash Extensions • Obagi Medical Products Georgeana Frias, Board Certified Nurse Practitioner Health New England has earned the trust of more than 5,000 employers throughout our region by providing outstanding, personal service and quality health insurance options. We offer plans without tiered networks and no referral is needed for members to see an in-plan specialist. At HNE, we're committed to being a better choice in health insurance for everyone in Worcester County. Maura McCaffrey President & CEO, Health New England " " Ask your insurance broker or call us at 508.453.9170 · hne.com/worcester A better choice in health insurance. Source: Mass. Executive Office of Labor and Workforce Development Growth track 60,000 62,000 64,000 66,000 68,000 EDUCATION AND HEALTH SERVICES JOBS Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2014 2015 66,000 62,900 The education and health care industries in the Worcester area saw job growth of nearly 5 percent from February 2014 to February 2015. It's the largest employment sector for the region, as defined by the federal government.

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