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Tue. Oct. 02, 2012 Manchester’s Dyn raises $38 million in venture funding The Manchester, N.H., Internet infrastructure company Dynamic Network Services Inc., better known as Dyn	Advertisement
Argo Medical of Israel plans to open its US headquarters in Marlborough Argo Medical Technologies Ltd., an Israeli company that makes exoskeleton devices enabling paraplegics to walk, said Tuesday that it will be opening its US headquarters in Massachusetts and expects to employ up to 40 people here within the next three to five years. The announcement was made at the AdvaMed 2012 convention, which drew more than 2,000 medical technology professionals to the Boston Convention and Exhibition Center.
TripAdvisor buys Wanderfly TripAdvisor Inc. has acquired Wanderfly, a “travel inspiration” site where visitors can select the attributes they want in a trip, such as “beach,” “budget,” and “off the beaten path,” and the site will recommend destinations based on those descriptions. Users can create Pinterest-type boards of cities, bookmarking favorite attractions and restaurants, and other users can view their recommendations. TripAdvisor, the travel review site based in Newton, did not disclose terms of the acquisition.
AIM: Massachusetts business confidence ‘stumbles again’ in September A business confidence index maintained by the Associated Industries of Massachusetts lost 3.9 points in September to post a reading of 51.3 on the index’s 100-point scale. “We have just been bumping along the road since the initial rebound from the depths of recession faded in mid-2010,” Raymond G. Torto, the chair of the associations’ Board of Economic Advisors, said in a statement. “This year, looking past month-to-month fluctuations, the quarterly averages run 54.2, 54.1, 52.6 – no progress at all, in fact a slow erosion.”
Rothstein Kass opens Boston office Rothstein Kass, a New Jersey-based accounting firm that specializes in providing services to hedge funds as well as private equity and venture capital firms, said it is opening a Boston office with 34 professionals. Boston is the ninth office for Rothstein Kass. The firm said it now has more than 1,100 employees.
Study: The business model for the medical device industry is unsustainable The business model of the medical device industry is unsustainable, according to report released Tuesday by a leading strategy consulting firm. As purchasing decisions shift from clinicians at individual hospitals to “value analysis committees” at larger hospital systems and integrated health care organizations, medical device companies will have to reinvent their go-to-market strategy, said the report from the Boston Consulting Group.
State pension fund director Michael Trotsky named investment chief too The board of the Massachusetts state pension fund voted Tuesday morning to give executive director Michael Trotsky the added responsibility of chief investment officer of the $50 billion fund. The board took up a proposal that had been floated recently by Treasurer Steve Grossman, to speed the pension board’s effort to fill the investment chief role, and in turn other vacant posts. Board members and the treasurer all emphasized that this was a temporary answer, given Trotsky’s investment experience, but not a permanent job reduction.
Danvers hotel reopens as the DoubleTree by Hilton Boston North Shore The DoubleTree by Hilton Boston North Shore is now open after a $16 million renovation and rebranding, its owner and operator said Tuesday. Located in Danvers, the 364-room hotel was previously known as the CoCo Key Water Resort Boston. The hotel is owned by the Lightstone Group and operated by Sage Hospitality. With more than 300 hotels in 23 countries, DoubleTree by Hilton describes the brand as “upscale” and “contemporary.”
Felix W. Frueh is named entrepreneur-in-residence at Third Rock Ventures Boston venture capital firm Third Rock Ventures announced Tuesday that Felix W. Frueh has been appointed as an entrepreneur-in-residence. Frueh will have a focus on personalized medicine, said the firm, which specializes in investing in life sciences companies.
The Warren Group: August foreclosures in Massachusetts reach lowest monthly level of 2012 Lenders completed 566 foreclosures in Massachusetts in August - the lowest monthly level recorded so far this year, the Warren Group reported Tuesday. The August 2012 total was 40 percent below the number recorded in August 2011, said the Warren Group, a Boston firm that tracks local real estate activity and that publishes Banker & Tradesman. The number of foreclosure petitions, the first step in a property seizure, was 1,456 in August 2012, up 4.2 percent from August 2011.
Eastern Bank provides $15m in financing to Caring Health Center Eastern Bank, a Boston-based bank with $8 billion in assets and roughly 90 branch offices, said it has provided $15 million of New Markets Tax Credit financing to facilitate Caring Health Center’s acquisition of a new building that will double the existing space of the Springfield health center. Caring Health Center seeks to provide health care to those who are challenged by social-economic, linguistic, and cultural barriers.
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