Worcester Business Journal

4 Worcester Business Journal • August 29, 2016 www.wbjournal.com Providence & Worcester railroad to be bought for $126M The Providence & Worcester Railroad Co. headquartered in Worcester is under an agreement to be bought by Genesee & Wyoming Inc., which oper- ates connected lines throughout Connecticut and Massachusetts. G&W agreed to buy P&W for $25 per share, coming to roughly $126 million. The acquisition will close after a P&W shareholder vote in the fourth quarter. P&W operates in Massachusetts, Rhode Island, Connecticut and New York on 163 miles of owned track and over approximately 350 miles under track access agreements, including exclusive freight access over Amtrak's Northeast Corridor between New Haven and Providence. Saint Vincent claims wrong patient kidney surgery not its fault Saint Vincent Hospital said a patient identification error involving a surgery by its team was not the fault of its staff, because the actual misidentification took place outside of the hospital and didn't involve its employees. According to reports from 7News Boston, a Saint Vincent surgeon at the Worcester hospital operated on the wrong patient and removed his or her kidney. In a statement, Saint Vincent said its staff followed proper protocol in preparing for and performing the sur- gery, which was scheduled by the patient's physician, who is not a Saint Vincent employee. "Saint Vincent Hospital is committed to providing safe, high-quality care to every patient who enters our doors. We are saddened that this incident occurred and our leadership continues to assure the patient receives the support and care needed," said Erica Noonan, spokeswoman for Saint Vincent. Maynard co's earnings up 274% year-over-year Acacia Communications, Inc. of Maynard reported triple-digit earnings and revenue growth in the same quarter that it completed its $103.5 million IPO. The provider of high-speed coherent optical interconnect products reported net income of $17.5 million on the back of revenue of $116.2 million with each being up year-over-year by 274 and 101 percent respectively. These results are a result of the company's position in the "high-growth" 100G plus optical net- working market, Raj Shanmugaraj, president and CEO of Acacia Communications, said in a statement. John Gavin, CFO of Acacia Communications, said the $104-million IPO the company completed in May gives substantial capacity to grow. Unlicensed Framingham clinic fined $17M Two Florida companies have been ordered to pay $17 million for decep- tively marketing and billing for medica- tions and services at an unlicensed medical clinic in Framingham, Attorney General Maura Healey has announced. The judgment, ordered by the Suffolk Superior Court, permanently prohibits Florida Men's Medical Clinic, LLC (FMMC) and Men's Medical Clinic, LLC (MMC) from operating unlicensed medical clinics in Massachusetts or deceptively marketing any medication or medical service relating to the treat- ment of erectile dysfunction in the state. According to the complaint filed in July 2015 in Suffolk Superior Court, the defendants -- FMMC, MMC, Kevin Hornsby, and Heidi Hornsby -- decep- tively marketed medications and ser- vices relating to the treatment of erectile dysfunction at an unlicensed medical clinic in Framingham. Marlborough company supplied 85% of Olympic soccer cleats Marlborough's CHAMP dug into the 2016 Rio Olympics this summer, sup- plying 85 percent of soccer competitors with cleats in their shoes as well as sup- plying other sports. "Ever since the 1948 games in London, CHAMP has been helping Olympic athletes achieve their dreams," Harris MacNeill, president and CEO of CHAMP/MacNeill Engineering Worldwide, said in a statement. "This year in Rio a number of competitors in golf, soccer, rugby, track and field and other events are trusting our spikes." Marlborough-based CHAMP/ MacNeill Engineering designs and manufactures cleats for numerous sports and industrial uses. The compa- ny is celebrating its 85th anniversary this year and has supplied Olympic athletes for the past 18 summer games. Hanover specialty president resigning Sept. 1 Worcester-based The Hanover Insurance Group has announced its president of specialty insurance will step down in September. Andrew Robinson, an executive vice president and the president of specialty insurance, has decided to leave the company to pursue other opportunities, according to The Hanover. Robinson's resignation is effective Sept. 1, at which time John "Jack" C. Roche, an executive vice president and the president of busi- ness insurance, will take on his respon- sibilities as the organization evaluates its strategic and business needs. Joseph M. Zubretsky, president and chief executive officer at The Hanover, said the organization remains commit- ted to growing its domestic specialty capabilities. A s Marlborough continues to draw in large companies such as GE Healthcare, another firm has its sights set on serving the minnows that follow those big fish with a new coworking space. The Davis Cos. in August launched WorkTable Marlborough after acquiring the Marblehead firm's coworking space. President Brendon Davis spearheaded the effort and said there is a growing need for open workspace that can serve individuals and smaller companies in the Marlborough area. This will be the first coworking space in the city. What's with the fish analogy? Those big companies end up attract- ing other companies and individuals that have a business relationship with them, Davis said. Even companies with- out a business relationship with these large companies start to look at Marlborough differently as the area becomes more of a powerhouse for innovation. "Startup companies and even large organizations are moving out of Boston and the metro area and targeting the 495 belt as a cost-effective operations base," he said. The space offers a smaller option. With a full-time mem- ber rate of $250 and less expensive options for fewer hours in the space or custom packages available, the space allows access to the market with- out locking into a lease. How is this better than a coffee shop? Unless your local coffee shop offers private rooms for meetings, a commu- nity of like-minded individuals who are looking for other business people to chat with, and the resources of a staffing company such as Davis that plans to offer free educational seminars to mem- bers and the community, this coworking space will offer thinks your local cup-o- joe watering hole can't, said Davis. With 30 years in the Marlborough community, said Davis, the company has roots with the incubator spaces and a host of professionals that can be tapped into by members. So while this coworking space comes at a time when new locations are pop- ping up throughout the area, including nearby Hudson and Hopkinton, Davis believes that it is something Marlborough specifically needs and something that his firm is uniquely set up to pull off. n REGIONAL BRIEFS Verbatim "[This] aligns perfect- ly with WPI's plans to leverage our stu- dents' strengths, pas- sions and interests, and empower them to create solutions that will make a lasting difference." Laurie Leshin, president of Worcester Polytechnic Institute, on receiving a $1.76-million grant to incorporate an entrepreneurial mindset into its curriculum >> "Programs like these offer afford- able pathways for students to begin their careers with less debt and enter the next phase of their lives." Quinsigamond Community College President Gail Carberry, on an agreement with Nichols College to smooth the transfer process for QCC students >> "They will have for the first time access to data that'll make it possible for people to have a pretty good sense about what's going on with respect to doc shopping." Gov. Charlie Baker, on a new version of the state's prescription monitoring system that will allow state-to-state info sharing >> In Review CENTRALMASS Davis seeks little fish for Marlborough coworking space BY SAM BONACCI Worcester Business Journal Digital Editor >> Continued on next page The Davis Cos. coworking space in Marlborough seeks to offer collaborative areas and have private conference rooms.

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