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W W W. M A I N E B I Z . B I Z 11 O C T O B E R 1 6 , 2 0 1 7 Blue Heron likes what it sees in STARC B y m a i n e b i z s t a f f S TARC Systems, a Brunswick company that makes sound- deadening construction barriers for hospital work envi- ronments, secured $3.5 million in investment. Blue Heron Capital, an equity fund based in Richmond, Va., led the investment round in STARC Systems. STARC, which is based in TechPlace in Brunswick Landing, was founded in 2012 by Tim Hebert, chairman of Lewiston- based Hebert Construction. STARC's containment system is a leading containment solution for health care facilities during renovation projects, according to Blue Heron Capital's news release. "Hospital systems spend $2.5 billion per month on renova- tion projects," said Andrew Tichenor, co-founder of Blue Heron. "It is imperative for these systems to remain operational dur- ing the construction process. This creates real problems with regard to infection control and dust mitigation. STARC has created a unique containment system that exceeds all infec- tion control requirements, is quiet, clean, fast and reusable. Blue Heron's investment will allow STARC Systems "to rapidly expand across the United States and into several adjacent markets." Hebert said STARC came out of a need identifi ed by his family owned construction business, which created a spe- cialty in health care construction. "Construction companies invest too much time and resources on temporar y measures," Herber t said. "In some cases, we would spend more time on the temporary walls than on the construction project itself. We created a solution that not only protects the work environment but also saves significant labor, time and money and reduces waste." Its containment structures have been used in projects at Central Maine Medical Center, St. Mary's Health Systems and Maine Medical Center, according to the company's website. STARC is also the benefi ciary of Maine's Seed Capital Tax Credit Program, an innovative program administered by the Finance Authority of Maine. MEMIC dividend to top $21 million MEMIC Group said it will issue a record policyholder divi- dend in November. The dividend of $21 million will be delivered to 18,000 Maine employers, who buy workers' comp insurance through Portland-based Maine Employers' Mutual Insurance Co. MEMIC's board authorized the dividend on Sept. 29. "What's especially nice is that this dividend will end up in the private, public and non-profi t sectors in all sixteen counties," said Michael Bourque, who took over as CEO of MEMIC in September. Since 1998, MEMIC has returned $241 million to policyholders. The dividend, which is not guaranteed, is contingent on safety results and effi cient management of the company, but also investment and bond-market performance. B I Z M O N E Y FOLLOW US @MBEVENTS #MBCEO17 Tickets are $30 and include breakfast. Register for a table of 10 to save 10% SP ONSORED BY Family Wealth Management Partners UBS Financial Services Inc. Join us for the Mainebiz CEO Breakfast! IS M A I N E OPEN FOR BUSINESS? Separating fact from fiction on doing business in Maine. S AV E T H E DAT E DoubleTree by Hilton Hotel, South Portland Wednesday, October 18 7:30–10:30am R E G I S T E R O N L I N E T O D AY ! www.mainebiz.biz/CEOForum Peter DelGreco Maine & Company PA N E L I S T S M O D E R AT O R James Detert Mölnlycke Health Care Kent Peterson Fluid Imaging Technologies Inc. Melissa Smith WE X Inc. David Rycyna Cirrus Systems Inc. joined the town and the Maine Department of Transportation in paying for the Route 27 project. Coulombe is also helping pay for a site that will house public rest- rooms and a parking lot. Coulombe, a Lewiston native, sold his Pinnacle Vodka and Calico Jack brands to Beam Inc. for $605 million in 2012. He has since invested $150 million of his own money in two golf resorts, fi ve B&Bs, a lighthouse and other real estate in the Boothbay region. Bar Harbor fl oats alternative ideas for former ferry terminal A committee of the Bar Harbor Town Council discussed possible uses for the former Bay Ferries Ltd. Terminal, including a marina, museum or com- mercial fi shing dock. Town Manager Cornell Knight told the Bangor Daily News that the Maine Department of Transportation prefers that the property serve the area's transpor- tation needs. In June, Bar Harbor voters approved a zoning change that cleared the way for the town to buy the former ferry terminal and rede- velop it for passenger cruise traffi c, but that action has prompted a back- lash from some local residents.

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