Worcester Business Journal

4 Worcester Business Journal • May 25, 2015 www.wbjournal.com M arlborough's growing reputation as a magnet for companies strengthened this month with news that Hologic Inc. wants to move its headquarters 32 miles southwest from Bedford. Hologic already has operations in Marlborough, at 445 Simarano Dr. and 250 Campus Dr., the latter of which would become the new headquarters, according to the medical-device manufacturer. Hologic's plan took a step forward May 18, when the City Council unanimously approved a five-year exten- sion of the company's tax increment financing (TIF) agreement. The current TIF, which took effect in July 2007, was set to expire June 30. The extended TIF is expected to save Hologic about 10 percent, or close to $200,000, over the five years, out of an estimated $1.93 million in taxes. The company has annual revenue of about $2.6 billion. Is this a done deal? The extended TIF still needs approval from Marlborough's Economic Assistance Coordinating Council. Also, Hologic's board of directors must sign off on it before the company calls the moving vans. What's behind Hologic's choice? Numerous factors are likely at play. Costs for busi- nesses and families are generally lower here, highway access is better, and Marlborough is becoming a life- sciences hub. In a May 14 letter to the City Council, Mayor Arthur T. Vigeant said the company liked the city's location and its access to a well-educated workforce "with a high degree of knowledge within the life science sector." What will the move do for Marlborough? Hologic already has about 450 employees, full and part time, in Marlborough. The company says that, over the next two years, moving its headquarters to the city will add 150 new full-time employees to its Marlborough workforce. Hologic also says in documents given to Marlborough that it will make a capital investment of $7.5 million at the two locations, in addition to the $24 million it has already invested. The move would also add to the city's trophy case of life sciences companies that have decided to call Marlborough home. The city is preparing to welcome GE Healthcare Life Sciences, which is moving its head- quarters to Forest Street from New Jersey. Last summer, medical device maker Boston Scientific, formerly based in Natick, cut the ribbon for a gleaming new headquar- ters in Marlborough. When big-name companies begin to cluster this way, it signals that they've found an attractive place to settle, and can make the location that much more attractive to other companies considering similar changes. What are the basics about Hologic? The company makes surgical and testing products, including X-ray systems that measure bone density. The publicly traded company has been headquar- tered in Bedford since its founding in 1985. Its presi- dent and CEO is Stephen P. MacMillan. n FRAMINGHAM — TJX Cos. said strong customer traffic in the first quarter of its new fiscal year led to an 8-percent jump in profits, to $475 million, or 69 cents per share, over the same quarter in 2014. The parent company of off-price retailers T.J. Maxx, Marshalls and HomeGoods said net sales for the quarter, which ended May 2, rose 6 percent to $6.9 billion, and consolidated comparable store sales jumped 5 percent. TJX also raised its expectations for the rest of the fiscal cycle, which will end Jan. 30, 2016. It now expects earnings per share in the range of $3.21 to $3.27; it had previously projected $3.17 to $3.25. WORCESTER — University of Massachusetts Medical School professor Job Dekker has been named a Howard Hughes Medical Institute Investigator, the medical school's seventh to receive the honor. Dekker, co-director of the school's program in systems biology and professor of biochemistr y and molecular pharmacology, is a pioneer in the study of the three-dimensional structure of the genome, UMass Medical said in a statement. UMass said Dekker developed the c h r o m o s o m e c o n f o r m a t i o n technologies used to map the genome's topography. FRAMINGHAM — Danforth Art has a new executive director, Debra Petke. The leaders of the organization, formerly called the Danforth Art Museum, chose Petke after a national search. She will succeed Katherine French, who retired Jan. 1. Petke most recently served as president and CEO of the Lyme Academy College of Fine Arts in Old Lyme, Conn. "This is an institution that began as a grassroots organization by dedicated citizens and for 40 years has provided those citizens, and the whole region, with countless exhibitions, art classes, and programs," Petke said in a statement. DEVENS — AMSC has secured a U.S. Navy contract as the alternative energy company continues to diversify its client base. The Devens-based company, formerly American Superconductor, will supply high- temperature, superconductor-based ship protection systems to the Navy in a contract worth up to $8.5 million. The system uses superconductors to disrupt electromagnetic detection of ships, which can interfere with undersea mines' ability to detect and damage watercraft. Analysts had been looking for the company to secure additional orders and customers amid continued losses — $22.7 million in the last year. AMSC has been rebuilding its customer base since it became embroiled in a legal battle in 2010 with its then-largest customer, Sinovel Wind Group of China, over alleged theft of trade secrets. WORCESTER — Spectrum Health Systems has been awarded a contract by the Virginia Department of Corrections to provide therapeutic community programming at three state facilities, the nonprofit substance abuse treatment and mental health services organization announced. Spectrum said it will provide services to more than 1,000 high-risk offenders. Spectrum has been providing correctional treatment programs around the country for 22 years. More recently, Spectrum announced the opening of a peer recover y center in downtown Lawrence to serve people trying to overcome addictions. GARDNER — Precision Optics, helped by higher demand for its products and the introduction of new offerings, saw a 17-percent jump in revenue in its latest quarter while the company cut its losses, it said. Precision, which sells to medical and biomedical companies as well as other industries, reported quarterly revenue of $1.14 million, up from $833,451 in the same quarter last year. Gross profit also rose to $312,929 from $189,232 in the same quarter in 2014. The company cut its losses from $380,434 in the previous quarter to $197,884. PAXTON — Anna Maria College has chosen Mary Lou Retelle (pictured) — who has served as interim president since July 2014 — as its 11th president. She is the first woman to serve as the school's leader in more than 20 years, and the first laywoman to lead the small Catholic college since its founding in 1946. R e t e l l e , of Worcester, will officially become president June 1. She brings 25 y e a r s o f experience as an e x e c u t i v e administrator at a c a d e m i c institutions, the college said. Retelle joined Anna Maria as executive vice president in 2011 and became interim president after the resignation of Jack P. Calareso last year. WESTB OROUGH — R isk management software maker Courion Corp. has acquired a Swiss firm in a move company officials said will enhance Courion's offerings and grow REGIONAL BRIEFS >> Continued on next page Verbatim "I don't. I don't think there's any chance." Richard A. Davey, chief executive officer for Boston 2024, when asked by a reporter whether he thought there was any chance the U.S. Olympic Committee would nominate Los Angeles instead of Boston to host the 2025 Summer Games. Source: The Boston Globe, May 19 "Although I might disagree in what is decided, I do have respect for the commissioner." Robert Kraft, New England Patriots' owner, saying he would not appeal the NFL's sanctions in the "Deflategate saga," and would reluctantly accept the punishment doled out by the league. The Patriots were stripped of two draft picks and fined $1 million. Source: Boston Herald, May 19 >> "Take this education with you; hold it by your side forever." Retiring Fitchburg State University President Robert V. Antonucci, addressing new graduates at the school's commencement May 16. Source: Telegram & Gazette, May 16 >> BRIEFING: MARLBOROUGH WOOS HOLOGIC CENTRALMASS In Review >>

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