COMING UP ON THIS WEEK’S PBN METROWEST BUSINESS REPORT A MAJOR HOSPITAL ADDS A NEW BUILDING, MORE DEVELOPMENT IN MARLBOROUGH, THE END OF RETAIL GIANT MEANS AN OPPORTUNITY FOR AN EQUALLY LARGE SUPERMARKET, AND TWO NATICK COMPANIES ACHIEVE HIGH RANKINGS . THESE STORIES AND MORE ON THE PROACTIVE BUSINESS NETWORK’S WEEKLY BUSINESS REPORT.
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HI EVERYONE, I’M KATIE CARROLL AND THIS IS THE PBN BUSINESS REPORT.
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UMASS MEMORIAL HOSPITAL PLANS ON ADDING AN AMBULATORY SURGERY CENTER ON MAIN STREET IN SHREWSBURY. THE HOSPITAL IS HOPING TO OBTAIN 40,000 SQUARE FEET OF A VACANT LOT IN SHREWSBURY FOR A THIRTY-ONE MILLION DOLLAR BUILDOUT. THE NEW PROPERTY WILL INCLUDE 9 OPERATING ROOM AND HOPES TO HAVE 71 EMPLOYEES. UMASS HAS PARTNERED WITH SHIELDS HEALTH CARE ON THE SHREWSBURY PROJECT, HOPING TO MOVE THE LESS INVOLVED PROCEDURES OUT OF HOSPITAL AND INTO THE SMALLER MORE CONVENIENT LOCATION. UMASS ESTIMATES THE NEW OPERATING CENTER TO HAVE OVER 8,000 PATIENTS BY 2017, WITH THAT NUMBER INCREASING IN THE FOLLOWING YEARS. DR. SARIKA AGGARWAL, CHIEF MEDICAL OFFICER FOR FALLON HEALTH SUPPORTS THE PROJECT STATING THAT AMBULATORY SURGICAL CENTERS (ASCS) HAVE DEMONSTRATED AN ABILITY TO IMPROVE QUALITY AND CUSTOMER SERVICE WHILE SIMULTANEOUSLY REDUCING COSTS FOR PROCEDURES APPROPRIATE FOR THIS SETTING. THE CENTER WOULD BE OPERATED BY SHIELDS, AND CONSTRUCTION IS ANTICIPATED TO BE COMPLETED BY SEPTEMBER 2016, WITH A GRAND OPENING IN OCTOBER 2016.
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A POTENTIAL DAY CARE WILL BE MAKING ITS WAY TO MARLBOROUGH IN THE FUTURE. THE MARLBOROUGH HILLS DEVELOPMENT, WHICH IS CURRENTLY HOME TO A HOTEL, AN APARTMENT COMPLEX, GE HEALTHCARE LIFE SCIENCES AND QUEST DIAGNOSTICS IS HOPING TO ADD A 10,000-SQUARE-FOOT DAY CARE CENTER TO ITS LOCATION ON SIMARANO DRIVE. MAMMOTH DEVELOPMENT COMPANY IS CURRENTLY SEEKING SITE PLAN APPROVAL AND A BUILDING PERMIT, BUT ANTICIPATED THE DAY CARE CENTER WILL HAVE OUTDOOR PLAYGROUNDS, CLASSROOMS THAT WILL BE ABLE TO ACCOMMODATE MORE THAN 150 CHILDREN, AND A PARKING LOT WITH 40 SPACES. MAMMOTH DEVELOPMENT HOPES THE DAYCARE WILL BE COMPLETED BY SPRING OF 2016.
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THE NATICK MALL IS WELCOMING A WEGMANS! THE NEW YORK BASED GROCERY STORE CHAIN WILL BE OPENING A NEW LOCATION AT THE NATICK MALL IN THE SPRING OF 2017. FILLING IN THE JC PENNEY LOCATION, THE NEW WEGMANS STORE WILL TAKE UP 125,000-SQUARE FEET. THIS WILL BE THE 5TH WEGMANS LOCATION IN MASSACHUSETTS, BUT THE FIRST TO OCCUPY MULTIPLE LEVELS IN A MAJOR MALL. THE WEGMANS COMPANY HOPES TO BEGIN CONSTRUCTION ON THE JC PENNEY PROPERTY IN EARLY 2016.
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NEW YORK CITY-BASED SMARTASSET COMPILED A LIST OF THE BEST PERFORMING STOCKS OF ALL OF THE PUBLICLY TRADED COMPANIES IN MASSACHUSETTS. THEY THEN COMPARED THEM WITH OTHERS ACROSS THE COUNTRY. THE RESULT IS A STOCK PERFORMANCE INDEX SCORE THAT RANKS NATICK-BASED COGNEX CORPORATION NUMBER SIXTH OF THE TEN BEST PERFORMING STOCKS IN THE STATE. COGNEX PRODUCES MACHINE VISION TECHNOLOGY SYSTEMS, INDUSTRIAL BARCODE READERS AND OTHER TECHNOLOGIES. THEIR SHARES, HOWEVER, WERE DOWN BY AS MUCH AS 25 PERCENT ON TUESDAY FOLLOWING THE RELEASE OF THE LATEST QUARTERLY EARNINGS REPORT. COGNEX MISSED SALES TARGETS FOR THE SECOND QUARTER AND LOWERED SALES ESTIMATES FOR THE THIRD QUARTER, CAUSING A STEEP DECLINE IN THE COMPANY’S STOCK PRICE. DESPITE MISSED TARGETS, COGNEX CEOROBERT WILLETTSAID IN A CONFERENCE CALL WITH ANALYSTS THAT THE QUARTERLY EARNINGS WERE THE “SECOND-HIGHEST QUARTERLY RESULTS WE HAVE EVER REPORTED.” IN JUNE, THE COMPANY SOLD ONE OF ITS BUSINESS DIVISIONS FOR ONE HUNDRED SIXTY MILLION DOLLARS IN CASH TO BERWYN, PENNSYLVANIA BASEDAMETEK.
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AND FINALLY, NATICK VNA HAS BEEN HONORED WITH A FIVE STAR RATING FROM THE CENTERS FOR MEDICARE AND MEDICAID SERVICES. THIS IS A NEW RATING SYSTEM THAT WAS CREATED TO HELP PUT PATIENTS IN THE CENTER OF THEIR CARE BY GIVING THEM GUIDLEINES WHEN CHOOSING HEALTHCARE PROVIDERS. NATICK VNA IS ONE OF FOUR AGENCIES IN MASSACHUSETTS TO RECEIVE THE HIGHEST MARKS AND THE ONLY ONE IN THE METROWEST. THIS RANKING PUTS THEM IN THE TOP THREE PERCENT NATIONWIDE OF OVER NINE THOUSAND MEDICARE CERTIFIED HOME HEALTHCARE AGENCIES. NOW IN THEIR ONE HUNDRED SIXTEENTH YEAR, THE NON PROFIT COVERS OVER 20 TOWNS. THEIR PARENT COMPANY IS CENTURY HEALTH SYSTEMS, ANOTHER NON PROFIT THAT PROVIDES HEALTH EDUCATION AND PREVENTION CLASSES TO KIDS, ADULTS AND SENIORS. DISTINGUISHED CARE OPTIONS IS THEIR AFFILIATE THAT PROVIDES FEE BASED EXTRA SUPPORT HOMECARE. JOIN THEM ON OCTOBER FIRST FOR THEIR FRESH TASTE EVENT WITH LIVE AUCTIONS AND TERRIFIC FOOD AND WINE. MORE DETAILS CAN BE FOUND AT WWW.FRESHTASTENVNA.ORG.
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THAT’S THE PBN BUSINESS REPORT FOR THIS WEEK. FOR THE PROACTIVE BUSINESS NETWORK, I’M KATIE CARROLL.
Check out this weeks Business Report featuring UMass Memorial, Wegmans, Marlborough Hills Development, Cognex and Natick NVA!
