Worcester Business Journal

www.wbjournal.com May 25, 2015 • Worcester Business Journal 5 its business in Europe. The acquired firm, Bay31, helps companies ensure secure access to business processes and reduce the cost of compliance, according to Courion. Bay31 will allow Courion to enhance its intelligence and analytics software offerings for large and complex applications, according to Chris Sullivan, Courion's general manager of intelligence and analytics. WORCESTER — UMass Memorial Medical Center is seeking a minority stake in a subsidiary of the company that bought its clinical outreach laboratory business in 2012, according to documents filed by both organizations with the Massachusetts Health Policy Commission. The documents, filed May 1, said the medical center wants to buy an 18.9-percent share of Quest Diagnostics Massachusetts LLC. That would allow UMass Memorial to nominate one of five directors of the subsidiary, according to the filings with the commission, which must sign off on the proposal. A statement from UMass Memorial said the organization expects the transaction to be completed this summer. FITCHBURG — Medical device manufacturer Arrhythmia Research Technology, the parent company of Micron Products, reported a 39-percent decline in gross profits for the first quarter of 2015 compared with the first quarter of 2014. Gross profit was $796,000, compared with $1.31 million a year earlier. Meanwhile, net income, $108,062, fell 58 percent from $256,717. Net sales for the quarter, which ended March 31, were $5.9 million, down slightly from $6 million, Arrhythmia said. WEBSTER — MAPFRE/Commerce Insurance is now MAPFRE Insurance, the company announced. In a statement, MAPFRE said that since the Spanish insurance firm MAPFRE SA acquired The Commerce Group Inc. in 2008, "the MAPFRE name has slowly been introduced and has gained a presence … Now, the company is focused on creating a unified brand, including in its home state of Massachusetts." While MAPFRE Insurance is the brand name, the names of MAPFRE's underwriting companies such as The Commerce Insurance Co. and Citation Insurance Co. are not changing, the company said. M A R L B OROU G H — R Xi Pharmaceuticals, which is pushing toward regulatory approval of its signature anti-scarring drug, saw a slight increase in revenue and cut its losses in the first quarter, the company said. RXi, whose anti-scarring drug RXI-109 is in its second phase of clinical trials, took in $34,000 in revenue for the quarter that ended March 31, representing a jump of $5,000 over the first quarter of 2014. Meanwhile, the company reported a REGIONAL BRIEFS >> Continued from previous page Knowledge + Experience + Trusted Advice. It all adds up. Large enough to serve the needs of most businesses and individuals; small enough to offer the personal attention you expect and deserve. Greenberg, Rosenblatt, Kull & Bitsoli, PC Certified Public Accountants 306 Main Street, Suite 400 • Worcester, MA 01608 508.791.0901 • www.grkb.com Commercial Lending Wealth Management Mortgages Our dedication to providing customers with superior financial products and the support they need to prosper at work and at home has enabled us to build one of the most trusted banks in the region. 8 Technology Drive in Westborough REAL DEALS Real Deals highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com, or fax it to 508-755-8860. Sources: Worcester Registry of Deeds, Town of Westborough — Compiled by Sam Bonacci, Worcester Business Journal Staff Writer ADDRESS: 4 and 8 Technology Dr., Westborough AREA: 214,000 sq. ft. SALE PRICE: $24.5 million SELLER: Gateway Sherwood Inc. BUYER: FD Special Opportunities III-a LLC The buildings, constructed in 1987 and 1991, are part of the Westborough Technology Park. Among the tenants in the park are Bose, EClinicalWorks and a Courtyard Marriott hotel. $3.13 million net loss, but that was down about 22.5 percent from a $4.04 million loss. WORCESTER — CareWell Urgent Care will open two facilities in Worcester later this year, the Quincy- based firm said. CareWell has signed a lease for one of the two sites, at 500 Lincoln St., real estate broker Glickman Kovago & Company confirmed. Dave Low, marketing director at CareWell, said the site is expected to open in mid-summer. He also said CareWell will open a second location at around the same time, at 244 Greenwood St. WESTBOROUGH — Business consulting and technology outsourcing company Virtusa capped off another year of healthy revenue and profit gains, finishing its 2015 fiscal year with increases of more than 20 percent in both key financial measures. Virtusa said revenue increased 21 percent to $479 million, while net income soared 23.4 percent to $42.4 million. For the fourth quarter, which ended March 31, >> Continued on next page P H O T O / C O U R T E S Y

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