Worcester Business Journal

6 Worcester Business Journal | January 9, 2017 | wbjournal.com B R I E F S Leominster hospital could get new ER UMass Memorial Health Care is con- sidering a new emergency department at HealthAlliance Hospital in Leominster, President and CEO Eric Dickson said. That project is awaiting approval from the state and it will be three or four years before construction is complete. HealthAlliance is expected to absorb Clinton Hospital in a merger that was approved by the Massachusetts Health Policy Commission on Oct. 1. Clinton is expected to operate as a sat- ellite location. Dickson said the system needed to grow services, particularly geriatric medicine, at Clinton Hospital, and merging the two hospitals made way for that. Southborough firm fighting hostile takeover A $50-million Southborough manu- facturer specializing in parts for electric vehicles began fighting back against a hostile takeover attempt by its former executive chairman. Sevcon, Inc. put out a press release urging its stockholders to vote against the hostile takeover at the company's Feb. 7 annual meeting, saying the firm is on the cusp of realizing strong revenues from electric vehicle demand. Ryan Morris, whose San Francisco investment firm Meson Capital owns a 20-percent stake in Sevcon, is urging stockholders to end the terms of the existing board members and replace them with six new board members and re-elect him, according to a Sevcon fil- ing with the U.S. Securities & Exchange Commission. Morris has served on the board since 2013 and was elected its executive chairman back in August, a position he no longer holds. Sevcon reported a net loss of $6.2 million in 2016, after turning a profit of $1.1 million in 2015. The loss came even though its had $50 million in revenue in 2016, com- pared to $41 million in 2015. T H E T I C K E R 500 Proposed jobs Townsend plastic housewares maker Sterilite Corp. plans to put in a new Iowa manufacturing center, if $9 million in government incentives are approved. Contract awards to Marlborough defense contractor Raytheon in the last four months to upgrade the Patriot missile defense system for a 13-country alliance. $825M Square feet of the Cogmedix expansion of its Worcester manufacturing facility at 17 Briden St. 5,000 WalletHub's rank of Worcester out of the 150 most populated U.S. cities for jobs, based on employment growth, unemployment, industry variety and cost of living. 144th Continued from previous page Source: City of Davenport, Iowa Source: U.S. Census Source: Cogmedix Source: WalletHub Health Alliance Hospital in Leominster

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