businessupdates

No more Stanley Cup shutouts for Bruins fans without cable TV service

Tue, 18 Jun 2013 22:06:01 GMT

Like the Chicago Blackhawks, thousands of Boston area residents who don’t subscribe to a cable television service were also shut out of Monday night’s Stanley Cup Finals game.

Insurer to pay $5.25 million to settle AG complaint

Tue, 18 Jun 2013 19:54:51 GMT

A company alleged to have used deceptive practices to sell supplemental health insurance to veterans and other Massachusetts residents will now pay more than $5 million to settle case, Attorney General Martha Coakley said.

Techne to buy Bionostics for $104m in cash

Tue, 18 Jun 2013 19:22:40 GMT

MINNEAPOLIS — Techne Corp., which makes medical testing and diagnostic products, said Tuesday that it reached a deal to buy Bionostics Holdings Ltd. and its operating subsidiary Bionostics Inc. for $104 million in cash. Bionostics develops, manufactures, and distributes products that verify the proper operation of in vitro diagnostic devices mainly used in blood glucose and blood gas testing. The company has supply relationships with the vast majority of in vitro diagnostic device manufacturers, Techne said. Founded in 1981, Devens-based Bionostics posted about $29.3 million in revenue for its fiscal year ended Aug. 31, 2012. Bionostics and Techne’s hematology division will operate together under a new clinical controls division of Techne’s research and development systems business after the deal closes, which is expected in the first quarter of fiscal 2014.

Blue Cross Blue Shield’s Andrew Dreyfus to chair local United Way

Tue, 18 Jun 2013 16:48:24 GMT

The board of directors of United Way of Massachusetts Bay and Merrimack Valley announced Tuesday the unanimous election of Andrew Dreyfus of Blue Cross Blue Shield of Massachusetts to serve as United Way’s board chair. Dreyfus will succeed William K. Bacic of Deloitte, who has served as board chair for the past year. United Way of Massachusetts Bay and Merrimack Valley is one of the region’s largest nonprofits. It describes part of its mission as working to ensure that children enter school ready to learn. Another objective is to ensure that children stay engaged once they are in school so that they can graduate with options for the future. To help achieve those goals, United Way looks to help the parents of those students attain financial stability.

Equity Office sells Burlington office park for $216m

Tue, 18 Jun 2013 12:48:04 GMT

Equity Office and Blackstone have sold New England Executive Park, a 10-building office park in Burlington, to Charles River Realty Investors and National Development for $216 million, said a broker involved in the transaction. The broker is Cushman & Wakefield. The park is 86-percent leased and is poised for the development of an additional 750,000 gross square feet of new ground-up development, Cushman & Wakefield said. New England Executive Park is currently permitted for office, commercial, retail, hotel and structured parking. The park’s amenities include parking for 3,352 vehicles, two full-service restaurants, a state-of-the-art fitness center, bank and credit union, a dry cleaner, a tailor, and a conference center. The park is located near the Burlington Mall.

CareCloud raises $20m for its electronic health records business

Tue, 18 Jun 2013 12:11:07 GMT

CareCloud Corp., an electronic health records company with a presence in Boston, said it has secured $20 million in Series B financing. The funding round was led by Tenaya Capital and included existing investors Intel Capital and Norwest Venture Partners; this round brings CareCloud’s total funding to $44 million, CareCloud said in a press release. Earlier this year, Miami-based CareCloud opened a Boston office in the city’s Innovation District.“Most of the U.S. healthcare system is shackled with decades-old technology that will hinder us from improving patient care or delivering on cost containment efforts in a rapidly-changing environment of reform,” Albert Santalo, CareCloud’s chairman and CEO, said.

Relevant24, part ad agency, part multi-media content production firm, has official launch

Tue, 18 Jun 2013 12:02:21 GMT

Relevant24, a Boston-based marketing firm, is officially launching Tuesday, its leaders said. The agency, known as R24 for short, is headed up by advertising/publishing veteran Marc Gallucci, who serves as CEO, and by former Goldman Sachs vice president and private banker Lane Murphy. According to Gallucci and Murphy, R24 is a hybrid of sorts --- a publisher, ad agency, and multi-media content production company rolled into one. Early clients include Frito-Lay, Enterprise Rent-A-Car, Fox Television, and KIA Motors, R24 said. In a statement, Gallucci added: “With unprecedented access to real-time consumer data, the challenge has been turning this chaos of information into a legitimate marketing discipline. One that produces highly engaging and relevant content that is on strategy, every day.”

Hasbro, Rovio enter into expanded Angry Birds licensing agreement

Mon, 17 Jun 2013 18:05:34 GMT

Hasbro Inc., the Rhode Island toy maker known for such products as G.I. Joe and Mr. Potato Head, and Rovio Entertainment announced an expanded licensing agreement for Hasbro to develop toys and physical games based on the globally popular Angry Birds brand.Rovio Entertainment Ltd. is a company headquartered in Finland and the creator of the Angry Birds characters franchise. “The new agreement makes Hasbro the premier toy licensee for Angry Birds, including the upcoming game Angry Birds Go! set to be released this year,” the two companies said in a press release. “In addition, Hasbro will continue to develop and expand their already highly successful collaboration with Angry Birds Star Wars from Rovio Entertainment and LucasFilm.” The original mobile game was launched in 2009 and remains the number one paid app of all time.

Massachusetts gas prices up a penny a gallon, AAA Southern New England says

Mon, 17 Jun 2013 14:46:19 GMT

The average price of gas in Massachusetts was $3.50 a gallon in the latest weekly AAA survey, up 1 cent from the previous week’s average, AAA Southern New England said Monday. Prices locally are up 1 penny over the past month. The current national average is $3.61 a gallon. A year ago at this time, the Massachusetts average price was $3.43, AAA Southern New England said. In the latest weekly survey, the range in prices was 32 cents, from a low of $3.37 a gallon to a high of $3.69. The weekly surveys focus on self-serve, regular unleaded gas.

Many college professors plan to work past 65, Fidelity survey finds

Mon, 17 Jun 2013 14:33:14 GMT

Nearly three-quarters of baby boomer professors, or 74 percent, plan to work past 65, and a subset said they plan to never retire at all, according to a survey just issued by Fidelity Investments, a Boston-based financial services firm. One Fidelity speciality is workplace retirement plans in general, including retirement plans in the not-for-profit higher education market. “Of those who say they will delay retirement for economic reasons, 55 percent are unsure they have enough retirement savings, 42 percent want to maximize Social Security payments, and 42 percent believe they will need continued health insurance,” Fidelity said. But many said they plan to continue to work for professional reasons --- 64 percent said they love their work too much to give it up.

Datawatch agrees to buy Swedish firm in deal valued at about $31.4m

Mon, 17 Jun 2013 13:47:30 GMT

Datawatch Corp., a Chelmsford company that develops business software for data analysis, said it has agreed to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions. The all-stock transaction is valued at about $31.4 million based on the the closing price of Datawatch common stock as of June 14, Datawatch said in a press release. Completion of the transaction is subject to the approval of the Datawatch stockholders, which is expected to occur during its fiscal fourth quarter, which ends Sept. 30. “The acquisition of Panopticon is a transformative event for Datawatch and the industry,” Michael A. Morrison, president and CEO of Datawatch, said in a statement.

A Cheesecake Factory restaurant is coming to the Mall at Chestnut Hill

Mon, 17 Jun 2013 13:41:36 GMT

The Mall at Chestnut Hill said Monday that it welcome another dining option to its retail and dining mix when the Cheesecake Factory opens at the end of the year. “The addition of the Cheesecake Factory, continues our reputation as the premiere, high-end shopping destination in the area,” mall manager Justin Feldhouse said in a statement. “We offer a variety of unique restaurants for our shoppers and are sure they will enjoy their dining experiences at the mall,” he added. The Mall at Chestnut Hill is an upscale, two-level enclosed shopping mall, located in the Chestnut Hill section of Newton on Boylston Street (a.k.a. Route 9). The mall is anchored by Bloomingdale’s in two locations.

Boston Globe’s Top Places to Work survey deadline extended until June 28

Mon, 17 Jun 2013 12:52:40 GMT

Love where you work? Now you have even more time to tell us all about it. We are extending the nomination deadline until June 28 for The Boston Globe’s Top Places to Work survey, our annual ranking of the most progressive employers in the state. We’ve had tremendous response so far but are extending the deadline so more organizations can participate. All kinds of employers are eligible, from public and private companies to nonprofits. They have to be operating in Massachusetts and employ more than 50 people. If your organization is nominated and agrees to participate, employees will be surveyed by our partner, WorkPlaceDynamics LLC. Employers will be measured on six factors including leadership and opportunities for training. All responses are confidential.

Health Policy Commission won’t review Partners HealthCare’s acquisition of Cooley Dickinson

Fri, 14 Jun 2013 21:09:11 GMT

The state’s new Health Policy Commission has decided not to launch a cost and market impact review of Partners HealthCare System’s agreement to acquire Cooley Dickinson Hospital in Northampton, a move that will allow the parties to close on their merger. In a statement issued Friday, the commission said conditions imposed on Partners and Cooley Dickinson by the state attorney general’s office “change the nature of the transaction and contributed to the Health Policy Commission’s decision not to conduct a cost and market impact review at this time.” One requirement mandated by the AG was that the organizations negotiate separate contracts for five years with the commercial health insurers that reimburse them for service.

Cushman & Wakefield arranges refinancing for One Harbor Street in the Seaport District

Fri, 14 Jun 2013 19:27:03 GMT

Commercial real estate services firm Cushman & Wakefield said it has arranged a $30 million refinancing of One Harbor Street, a mixed-use complex in Boston’s Seaport District. Cushman & Wakefield said it advised Cargo Ventures LLC, the Florida company that owns One Harbor Street, on the refinancing. The property, which totals about 209,000 square feet, is 100 percent leased; companies that are leasing space there include First Trade Union Bank, Geotrans, and Vertex Pharmaceuticals Inc., Cushman & Wakefield said. The refinancing transaction was led by Jay Wagner, managing director of Cushman & Wakefield equity, debt, and structured finance practice. “We had significant interest in the financing driven by the tenant’s long term commitments to the property, their financial strength, and the attractive sponsorship,” Wagner said in a statement.

Nine affordable housing projects across the state to receive state and federal funding

Fri, 14 Jun 2013 16:21:16 GMT

Nine housing projects across the state will receive $25.8 million in affordable housing funds and tax credits, the state announced Friday. The funding includes $17.2 million in state and federal housing subsidies and $8.4 million in state and federal low-income tax credits, according to the state Department of Housing and Community Development. It is expected to create 694 housing units and some 600 construction jobs, the state said. “Creating affordable housing helps to generate jobs, grow local businesses and strengthen our communities,” said Governor Deval Patrick in a prepared statement. The announcement comes seven months after Patrick announced a goal to create 10,000 units of multi-family housing each year through 2020. Projects are located in Boston, Cambridge, Chelsea, Falmouth, Shrewsbury, Brockton, and Springfield.

Developer: Project to build a Jamaica Plain apartment complex gets BRA approval

Fri, 14 Jun 2013 15:03:42 GMT

Cedar Valley Development LLC said its plan to a build a a new 195-unit at 105A South Huntington Ave. in Jamaica Plain has been approved by the Boston Redevelopment Authority’s board of directors. The complex is called Serenity, and Serenity is to be constructed on a vacant one-acre lot formerly owned by the Commonwealth between the Jamaicaway and South Huntington Avenue, Cedar Valley Development said. The plan is for the residences to be of a lower scale on the Jamaicaway side of the building, rising no higher than five floors. A slender tower of 13 floors will be located on the Huntington Avenue side, Cedar Valley Development said. Serenity will have 32 units of city-certified affordable housing, with a mix of apartments ranging from studios and one-bedrooms to two- and three-bedrooms.

General Motors CEO in Boston promotes auto technology

Thu, 13 Jun 2013 20:29:42 GMT

At a speech in Boston Thursday General Motors chief executive Dan Akerson said the American car company is stepping up its efforts to woo younger drivers, including opening an app store to bring new technologies to its vehicles.

Tandem parking spots sell for $560,000

Thu, 13 Jun 2013 20:06:11 GMT

Two tandem parking spaces in a Back Bay alley sold for $560,000 at an IRS auction Thursday, making them among the most expensive parking spots in the city’s history.

Progress Software selling Apama to Software AG

Thu, 13 Jun 2013 14:37:10 GMT

Progress Software Corp. is selling its Apama product to Software AG so that it can concentrate on cloud and mobile application development technologies. Apama helps companies to build processing applications that help them monitor events, detect complex patterns, and take immediate action, according to Progress’ web site. Financial terms of the deal were not disclosed. ‘‘The Apama target market, deployment and sales model differ significantly from those of Progress’ application development platform and we feel this agreement protects our customers’ existing investments in the Apama solution,’’ president and CEO Phil Pead said in a statement. Progress’ chief technology officer and co-founder of Apama, John Bates, is expected to join Software AG and lead the Apama division. Progress, based in Bedford, makes software to simplify the deployment and management of cloud-based platforms.

Kayem Father’s Day grilling tip: Low heat is a hot dog’s best friend

Thu, 13 Jun 2013 13:19:07 GMT

Forget artisanal sausages and other semiprecious fare. When it comes to paying culinary tribute to the family patriarch on Father’s Day, you can’t go wrong with hot dogs. So suggests Kayem Foods Inc., a Chelsea-based purveyor of franks, brats, and deli favorites. As a public service of sorts, Kayem is offering tips for grilling up a Father’s Day feast. One tip: Low heat is a hot dog’s best friend. For a frank to achieve hog-heaven perfection, it needs a patient chef who can wait out a slow burn. Another piece of advice: For the thoughtful griller, tongs are the trenching tool of choice. Use forks, and hot dog casings get pierced, causing the frank’s natural juiciness to drip out. When it comes to hot dogs, handle with care. And handle with tongs.

The Bonzai Pipelines water-slide complex launches at Six Flags New England

Thu, 13 Jun 2013 13:06:14 GMT

Six Flags New England, a theme park located in Agawam, said it is launching its new waterslide complex Bonzai Pipelines. “The six-story tower is part of an expanded area inside New England’s largest water park, Hurricane Harbor,” Six Flags said in a press release. “With 33 waterslides, pools, and attractions, Hurricane Harbor houses 3 million gallons of water and offers water thrills for every member of the family.... Riders experience speeds of up to 40 miles per hour, as they rocket down a 257-foot long slide. After conquering the 360 degree loop, guests then splash into 6 inches of water in the slide’s run-out.” Six Flags Entertainment Corp. is a regional theme park company with more than $1.1 billion in revenue and 18 parks across the United States, Mexico, and Canada.

Busy summer tourism season expected

Wed, 12 Jun 2013 21:35:29 GMT

Summer tourists are starting to roll in, and local officials are expecting a bumper crop.

Celtics co-owner Wyc Grousbeck raising fund to invest in sports media

Wed, 12 Jun 2013 21:06:09 GMT

Boston Celtics co-owner and chief executive Wyc Grousbeck is looking to raise a $125 million fund called Causeway Media Partners to invest in sports media businesses.

Massachusetts nurses union approves contracts at Quincy, Worcester hospitals

Wed, 12 Jun 2013 19:55:16 GMT

Members of the Massachusetts Nurses Association have ratified new labor contracts with Quincy Medical Center and the UMass Memorial Medical Center in Worcester.