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<dc:date>2011-06-01T06:17:03-05:00</dc:date>
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<item rdf:about="http://www.boston.com/business/ticker/2011/06/arnold_expands_2.html">
<title>Arnold expands into Australia</title>
<link>http://www.boston.com/business/ticker/2011/06/arnold_expands_2.html</link>
<description><![CDATA[<p class="byline">Globe Staff</p>

<p>Boston ad agency <a href="http://www.arn.com/">Arnold Worldwide</a> said that it is expanding its "global micronetwork" into Australia through the creation of Arnold Furnace.</p>

<p>Arnold Furnace is the result of Arnold merging with an Australian ad agency called The Furnace. Both Arnold and the Furnace share a corporate parent in  <a href="http://www.havas.com/havas-dyn/en/">Havas</a>, a French based company focused on providing advertising and communications services worldwide.</p>

<p>Arnold said the expansion is partly in response to increasing international assignments from Arnold clients, such as Carnival Cruise Lines, Ocean Spray, and Progressive Insurance. </p>

<p>In a press release, Arnold added: "Existing Furnace managing director Tony Singleton will lead Arnold Furnace. Singleton will report to Andrew Benett, global CEO of Arnold Worldwide and global chief strategy officer of Havas Worldwide."</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-06-01T06:17:03-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/judge_rules_ste.html">
<title>Judge rules Steward Health Care can negotiate takeover of troubled Landmark hospital in R.I.</title>
<link>http://www.boston.com/business/ticker/2011/05/judge_rules_ste.html</link>
<description><![CDATA[<p class="byline"> By Robert Weisman </p>

<p>      A judge in Rhode Island ruled that Boston's Steward Health Care Systems LLC  could move forward with negotiating a takeover of financially troubled Landmark Medical Center in Woonsocket, which has been in court-appointed receivership for the past three years.</p>

<p>       Landmark had begun talking about a sale to Steward's predecessor, Caritas Christi Health Care, in 2009 but talks broke off without an agreement last December. The parties recently resumed negotiations and were working to finalize the terms of a buyout agreement. </p>

<p>      The deal, which will require approval by state regulators in Rhode Island, would represent Steward's first out-of-state acquisition. The eight-month-old holding company has been building a chain of for-profit community hospitals in Massachusetts and beyond under the direction of its ambitious chief executive, Ralph de la Torre.</p>

<p>      Steward was created by private equity firm Cerberus Capital Management to run the six Catholic hospitals in the Caritas system it bought last fall, including St. Elizabeth's Medical Center and Carney Hospital in Boston, converting them from non-profit to for-profit status.</p>

<p>     Since then, it has purchased two for-profit hospitals, Merrimack Valley Hospital in Haverhill and Nashoba Valley Medical Center in Ayer, and struck deals to buy two non-profit hospitals, Morton Hospital and Medical Center in Taunton and Saints Medical Center in Lowell.</p>

<p>      The talks with 214-bed Landmark had bogged down last year partly because Steward executives were unable to negotiate higher payments from Blue Cross Blue Shield of Rhode Island, the state's largest health insurer. </p>

<p>       Blue Cross and Steward still have not agreed on a new insurance contract for Landmark, and the insurer today objected to the pace at which Landmark's talks with Steward is moving.<br />
      <br />
      Blue Cross is one of Landmark's largest creditors and is owed $3 million by the Woonsocket hospital, said Kimberly Reingold, a spokeswoman for the insurance carrier. Since the Landmark talks with Steward broke off last year, Blue Cross has been negotiating with several other potential buyers of the community hospital, she said.</p>

<p>     "There are a number of unresolved issues, including Steward negotiating a contract with us, as well as how Blue Cross Blue Shield of Rhode Island will be made whole on the $3 million in back debt that is owed to us," Reingold said in a statement. "Blue Cross Blue Shield of Rhode Island has been and remains willing to negotiate a fair and reasonable contract with any bidder, but we have not yet been approached on contract specifics since Steward reentered negotiations."</p>

<p>     Steward spokesman Chris Murphy declined to discuss the Blue Cross statement or the negotiations with Jonathan Savage, the court-appointed special master bargaining on behalf of Landmark. Bill Fischer, a spokesman for Savage, didn't return phone calls.<br />
</p>]]></description>
<dc:subject></dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-31T19:18:08-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/sanofi_announce.html">
<title>Sanofi announces changes at Genzyme</title>
<link>http://www.boston.com/business/ticker/2011/05/sanofi_announce.html</link>
<description><![CDATA[<p class="byline"> By Robert Weisman </p> 

<p>   French drugmaker Sanofi SA told employees of Genzyme Corp., the Cambridge company Sanofi acquired in April, that they will have a new reporting structure within the parent company.</p>

<p>   Sanofi chief executive Christopher A. Viehbachercq said earlier this year that Genzyme will retain its name and remain a standalone biotechnology unit within Sanofi. </p>

<p>   But in an employee bulletin out today, Sanofi said Genzyme unit will be smaller and include only its personalized genetic health and multiple sclerosis operations</p>

<p>   Genzyme's current oncology, biosurgery, and renal operations will be integrated into Sanofi businesses, the new owner said. Sanofi did not say if that move would involve job cuts. Genzyme currently employs about 4,500 workers in Massachusetts and 10,000 worldwide.</p>

<p>   Sanofi said Viehbacher will continue as acting Genzyme chief executive until September when a new Genzyme chief executive will be named. </p>]]></description>
<dc:subject>Life sciences </dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-31T18:25:05-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/dunkin_donuts_i_1.html">
<title>Dunkin&apos; Donuts introduces Frozen Hot Chocolate</title>
<link>http://www.boston.com/business/ticker/2011/05/dunkin_donuts_i_1.html</link>
<description><![CDATA[<p class="byline">Carli Velocci, Boston.com correspondent</p>

<p>First, there was iced coffee. Now, frozen hot chocolate.</p>

<p><a href="http://www.boston.com/business/ticker/assets_c/2011/05/frozen-hot-chocolate-42972.html" onclick="window.open('http://www.boston.com/business/ticker/assets_c/2011/05/frozen-hot-chocolate-42972.html','popup','width=212,height=400,scrollbars=no,resizable=no,toolbar=no,directories=no,location=no,menubar=no,status=no,left=0,top=0'); return false"><img src="http://www.boston.com/business/ticker/assets_c/2011/05/frozen-hot-chocolate-thumb-212x400-42972.jpg" width="212" height="400" alt="frozen-hot-chocolate.jpg" class="mt-image-right" style="float: right; margin: 0 0 20px 20px;" /></a>Canton-based Dunkin' Donuts is gearing up for summer with the new addition to its beverage lineup. The company said in a press release that the drink, available for a limited time at participating locations nationwide, "delivers the rich, comforting taste of Dunkin' Donuts classic hot chocolate in an icy cold beverage." </p>

<p>Frozen drinks have seen an increase in popularity over the past few years at the company, according to John Costello, chief of global marketing at Dunkin' Brands, the parent company located in Canton.</p>

<p>The drink joins other frozen commodities on the Dunkin' line such as the frozen Coolattas &#8211; which come in a variety of flavors including coffee, strawberry, and vanilla bean &#8211; and the new Frozen Lemonade and Frozen Iced Tea.</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>jnunes</dc:creator>
<dc:date>2011-05-31T13:53:53-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/general_dynamic_6.html">
<title>General Dynamics adds more than 100 jobs in Pittsfield</title>
<link>http://www.boston.com/business/ticker/2011/05/general_dynamic_6.html</link>
<description><![CDATA[<p class="byline">Associated Press</p>

<p>General Dynamics Corp. has hired more than 100 employees to help work on a defense contract it was awarded by the Navy in December.</p>
<p>General Dynamics Advanced Information Systems ultimately hopes to hire 500 workers over the next five years to build, test and deliver the electronics systems for the Littoral Combat Ships.</p>
<p>Officials from the Pittsfield-based unit said half of the new workers came from inside Berkshire County. The other half is split between other Massachusetts residents and those living outside Massachusetts</p>
<p>Gov. Deval Patrick joined workers and company officials on Tuesday to mark the job growth.</p>
<p>The Littoral Combat Ships are estimated to cost $500 million each to build. The Navy wants 55.</p>
<p>General Dynamics is designing the ship's infrastructure, electronics systems and completing engineering work.</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>jnunes</dc:creator>
<dc:date>2011-05-31T13:37:17-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/local_gas_price_42.html">
<title>Local gas prices down for third straight week</title>
<link>http://www.boston.com/business/ticker/2011/05/local_gas_price_42.html</link>
<description><![CDATA[<p class="byline">By Carli Velocci, Boston.com Correspondent</p>

<p>Gasoline prices in Massachusetts are down for the third week in a row, <a href="http://www.sne.aaa.com/sne-bin/aaapublic/news/newspage.cgi">according to a weekly survey by AAA Southern New England.</a></p>

<p>The survey released today reported that average gas prices are down five cents per gallon from a week ago, 11 cents in total over three weeks. Self-serve, regular unleaded gas averages at around $3.839 per gallon in Massachusetts, which is five cents above the national average at $3.78.</p>

<p>A year ago at this time, the average local price was $2.76, AAA Southern New England said. </p>

<p>Report gas prices in your area, find the cheapest gas, and browse a map of other area gas prices using the <a href="http://www.boston.com/business/specials/gasprices">Boston.com gas price tracker.</a><br />
</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>jnunes</dc:creator>
<dc:date>2011-05-31T12:37:35-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/report_national.html">
<title>New report indicates double dip in housing prices</title>
<link>http://www.boston.com/business/ticker/2011/05/report_national.html</link>
<description><![CDATA[<p class="byline"> By Globe Staff </p>

<p>      National home prices through March plunged below the low point of the recent recession, signaling a double-dip in housing after a mild rebound last year, according to a widely respected home price index.</p>

<p>	Boston home prices declined in March, but remain above their recession low, according the S&P/Case-Shiller Index, which tracks prices in 20 of the nation's large metropolitan areas. Prices in the Boston area have declined in each of the past two months, and are down nearly  3 percent from year ago. They remain about 2 percent above the bottom reached here in April 2009.</p>

<div id="relatedBox" class="relatedBox"><h3 class="sectionHeader">Related  </h3><ul class="linklist"><li><span class="leadIn">Survey </span><a href="http://www.boston.com/business/polls/do_the_housing_numbers_concern_you_0531/" onclick="openWindow('http://www.boston.com/business/polls/do_the_housing_numbers_concern_you_0531/','','width=500,height=500,resizable=yes,scrollbars=yes,toolbar=no,location=no,menubar=no,status=no'); return false;" class="bold">What do you think of the latest housing report?</a> </li><li><a href="http://www.boston.com/business/articles/2011/05/31/home_price_index_at_lowest_point_since_2006_bust/" class="bold">Home-price index at lowest point since 2006 bust</a></li><li><a href="http://www.boston.com/realestate/news/blogs/renow/2011/05/overpricing_101_1.html" class="bold">Overpricing 101 for buyers</a> </li><li><a href="http://www.boston.com/business/articles/2011/05/31/economy_gains_yet_housing_spirals_downward/" class="bold">Economy up, housing down</a></li></ul></div>Home sales and prices received a boost from federal home buyer tax credits, enacted as part of stimulus legislation. Since the tax credits expired last year, national and local housing markets have struggled. Nationally, home prices, which have declined for three consecutive quarters, fell below the previous low point reached in the first quarter of 2009.

<p>	Nationally, prices in the first quarter were about 3 percent below the 2009 bottom, according to the index.</p>

<p>	“The rebound in prices seen in 2009 and 2010 was largely due to the first-time home buyers tax credit," said David M. Blitzer, chairman of the Index Committee at S&P Indices. "Excluding the results of that policy, there has been no recovery or even stabilization in home prices during or after the recent recession."</p>

<p>	</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-31T11:15:47-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/dyax_expands_pa.html">
<title>Dyax expands partnership with Italian drugmaker </title>
<link>http://www.boston.com/business/ticker/2011/05/dyax_expands_pa.html</link>
<description><![CDATA[<p class="byline"> By Associated Press </p>

<p>Dyax Corp. has expanded its partnership with an Italian drugmaker to develop a drug used to treat a hereditary disease that can cause dangerous swelling in the throat. </p>

<p>The Defiante Farmaceutica unit of Italy's Sigma-Tau will handle development and sales of Kalbitor in Taiwan, Singapore, South Korea, and in Latin American countries excluding Mexico, the company said Tuesday. </p>

<p>Defiante will pay Dyax $7 million upfront, and the deal could lead as much as $10 million in milestone and reimbursement payments as well. Dyax, based in Cambridge, will also receive milestones and royalties of 41 percent on sales of the drug if it is approved in those markets. Sigma-Tau will handle all regulatory and sales costs. </p>

<p>Defiante already has the rights to develop and market Kalbitor in Europe, North Africa, Middle East, Russia, Australia, and New Zealand. Dyax has rights in the U.S. and other territories. </p>

<p>Kalbitor, or ecallantide, is approved to treat acute attacks of hereditary angioedema in patients at least 16 years old. Hereditary angioedema is a genetic condition that can cause dangerous swelling in the throat and larynx. Dyax said the condition affects between one in 10,000 and one in 50,000 people. </p>

<p>Company shares rose 2 percent, or 5 cents, to $2.34 in premarket trading Tuesday.<br />
</p>]]></description>
<dc:subject>Life sciences </dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-31T10:22:21-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/senate_passes_r.html">
<title>Senate passes rule restricting nonprofit board pay </title>
<link>http://www.boston.com/business/ticker/2011/05/senate_passes_r.html</link>
<description><![CDATA[<p class="byline"> By Jenifer McKim, Globe staff </p>

<p>Massachusetts charities soon may be limited in how they are able to compensate their board members following legislation approved by the state Senate late Thursday.</p>

<p>Senator Mark Montigny, a New Bedford Democrat, said that an amendment attached to the state budget would prohibit public charities from paying their directors without first gaining approval from the state Attorney General’s public charities division. The legislation also would allow the Attorney General's office to override that approval if the compensation were deemed unreasonable.</p>

<p>The amendment was based on legislation filed in April by Montigny and Attorney General Martha Coakley, and included in the Senate's version of the state budget, now heading to conference committee.</p>

<p>Montigny said he included the legislation in the budget bill in hopes that it would gain traction there. He said he has filed similar legislation in the past but believes the current political climate will help lead to its success. </p>

<p>"There has been so much public outrage,'' Montigny said.  "For half a decade I've maintained that excessive compensation for executives and pay for board members is unacceptable and a breach of the public trust."</p>

<p>Coakley said that directors' compensation creates, at a minimum, the appearance of a conflict of interest and should be reviewed by state regulators.</p>

<p>“These organizations enjoy significant tax and other benefits due to their charitable status, and this amendment would simply require charities to have a sound justification for why their board members should be paid in contrast to the vast majority of board members that volunteer their services.”</p>

<p>The legislation follows public outrage earlier this year over the disclosure that the board of Blue Cross Blue Shield of Massachusetts, the state's largest nonprofit health insurer, voted to give departing chief executive Cleve L. Killingsworth about $11 million. Board members received five-figure payments annually.</p>

<p>Coakley's office launched an investigation and found no justification for nonprofit health insurers, including Fallon Community Health Plan, Harvard Pilgrim Health Care and Tufts Health Plan, to pay their directors.  Since then Blue Cross Blue Shield and Fallon suspended their board compensation.</p>

<p>Coakley said that legislation is needed largely because of Tufts and Harvard Pilgrim's refusal to suspend pay. A Tufts spokeswoman said that the insurance company would not fight the legislation. If it becomes law, she said, Tufts will work with the Attorney General's office to ensure "best practices." Harvard Pilgrim could not be reached for comment.</p>

<p>The Attorney General's investigation found that board members said they merited compensation because their organizations required skilled directors who committed significant time to their duties. But the state office determined that directors did no more work those who serve on volunteer boards and found no justification for pay. </p>

<p>In addition to the legislation, Coakley's office said it would now require all Massachusetts-based public charities that pay their board members to file annual reports describing the "basis and rationale" for the compensation.<br />
</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-27T16:33:09-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/new_mobile_site.html">
<title>New mobile site gives real-time ferry updates</title>
<link>http://www.boston.com/business/ticker/2011/05/new_mobile_site.html</link>
<description><![CDATA[<p class="byline">By Boston.com Staff</p>

<p>Are you headed to the Vineyard this long holiday weekend? Then bring your smartphone if you want the latest update on the ferry schedules.</p>

<p>The Steamship Authority, which oversees all ferry operations between the state's mainland and the islands of Nantucket and Martha's Vineyard, announced today that it has deployed a new mobile website that allows travelers to easily check on the status of arriving and departing ferries from their smartphones. The site, <a href="http://m.steamshipauthority.com/">steamshipauthority.com</a>, also lets travelers view cancellations and alerts, check parking information, and get directions to ferry terminals.</p>

<p>"At the Steamship Authority, we are constantly looking at ways to enhance our customers' overall experience." Steamship Authority general manager Wayne Lamson said in a press release. "The new mobile website will provide access to useful ferry information for passengers traveling to or from Martha’s Vineyard and Nantucket." </p>]]></description>
<dc:subject>Technology</dc:subject>
<dc:creator>jnunes</dc:creator>
<dc:date>2011-05-27T14:59:01-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/report_arris_gr.html">
<title>Report: Arris Group in talks to buy SeaChange</title>
<link>http://www.boston.com/business/ticker/2011/05/report_arris_gr.html</link>
<description><![CDATA[<p class="byline">Associated Press</p>

<p>Arris Group Inc. is in talks to acquire <a href="http://finance.boston.com/boston./quote?Symbol=SEAC">SeaChange International Inc</a>., according to a report published Thursday citing people familiar with the discussions.  </p>

<p>The talks have been going on and off for several months, but whether a deal will be reached or at what price remains unknown, the Wall Street Journal reported one of the people said.  </p>

<p>UBS is advising Arris, while investment bank Qatalyst Partners is advising SeaChange, the Journal said.  </p>

<p>Suwanee, Ga.-based Arris makes communication equipment. SeaChange, based in Acton, makes software and hardware for video and other services for media companies.  </p>

<p>An Arris spokesman declined to comment on the report late Thursday. No one could be reached after hours at SeaChange's offices.  </p>]]></description>
<dc:subject>Technology</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-27T14:05:58-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/boston_chamber_4.html">
<title>Boston Chamber hails new Boston-Tokyo nonstop flights</title>
<link>http://www.boston.com/business/ticker/2011/05/boston_chamber_4.html</link>
<description><![CDATA[<p class="byline">Globe Staff</p>

<p>The Greater Boston Chamber of Commerce today hailed the  launch of non-stop air service between Boston and Tokyo next year as an economic boost for the region, noting that it will not only help increase tourism here, but also build stronger connections to Japanese markets.</p>

<p>Japan Airlines will offer four flights between Logan and Narita International Airport beginning in April 2012.</p>

<p>"These flights will not only make it easier for tourists to travel between our two cities, but will bring wider economic benefits as well, enabling closer connections to markets, products, customers, family and friends that will benefit New England and Japan," said Paul Guzzi,  the chamber's chief executive.</p>

<p>"The Japan Airways flights will fill an important need for the many travelers in our market, particularly those in our leading industries such as high tech, life sciences, health care and education," he added.</p>]]></description>
<dc:subject>Economy</dc:subject>
<dc:creator>kstringer</dc:creator>
<dc:date>2011-05-27T11:12:21-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/hydroid_auv_pas.html">
<title>Hydroid AUV passes critical design review</title>
<link>http://www.boston.com/business/ticker/2011/05/hydroid_auv_pas.html</link>
<description><![CDATA[<p class="byline">Globe Staff</p>

<p><a href="http://www.km.kongsberg.com/">Hydroid Inc</a>., a Bourne-based manufacturer of autonomous underwater vehicles, or AUVs, said that it has passed a critical design review to provide "littoral battlespace sensing" AUVs and associated technologies to the <a href="http://www.public.navy.mil/spawar/Pages/default.aspx">Space and Naval Warfare Systems Command</a>, a unit of the US Navy known as SPAWAR.</p>

<p><a href="http://www.boston.com/business/ticker/2011/05/27/REMUS-600-244x181.jpg"><img alt="REMUS-600-244x181.jpg" src="http://www.boston.com/business/ticker/assets_c/2011/05/REMUS-600-244x181-thumb-244x181-42692.jpg" width="244" height="181" class="mt-image-right" style="float: right; margin: 0 0 20px 20px;" /></a>The recognition of the critical design review is the next milestone in Hydroid's contract to provide SPAWAR with REMUS 600 AUVs equipped with technologies for meteorological and oceanographic data collection, Hydroid said in a <a href="http://www.km.kongsberg.com/ks/web/nokbg0238.nsf/AllWeb/2924579858058582C125789B0027F8AD?OpenDocument">press release</a>.</p>

<p>The company recently made news when the Royal Netherlands Navy used one of its AUVs to find a missing World War I German submarine off the Dutch coast.</p>

<p>The company photo that appears with this post shows a Remus 600 being deployed.</p>]]></description>
<dc:subject>Technology</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-27T08:38:31-05:00</dc:date>
</item>

<item rdf:about="http://www.boston.com/business/ticker/2011/05/get_that_gradua.html">
<title>Get that graduate a &apos;Zipcertificate&apos;</title>
<link>http://www.boston.com/business/ticker/2011/05/get_that_gradua.html</link>
<description><![CDATA[<p class="byline">Globe Staff</p>

<p><a href="http://finance.boston.com/boston./quote?Symbol=ZIP">Zipcar Inc</a>., the Cambridge-based car-sharing company that recently went public, wants all hands to know that a Zipcar gift certificate --- or "Zipcertificate" --- can make for an ideal graduation present.</p>

<p>According to a company <a href="http://finance.boston.com/boston/news/read?GUID=18563277">press release</a>, Zipcar is a more convenient and cost-effective alternative to car ownership, in part because it has locations in 14 major metropolitan markets, as well as on 230 college campuses, "making membership a great gift option for college graduates moving to a big city, or for high school graduates who will be attending a Zipcar campus in the fall."</p>

<p>For reasons such as this, folks should think of getting a "Zipcertificate" for the graduate in their life, Zipcar said.</p>

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<dc:subject>Technology</dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-27T06:11:10-05:00</dc:date>
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<item rdf:about="http://www.boston.com/business/ticker/2011/05/morton_hospital_3.html">
<title>Morton hospital files notice of its sale to Steward</title>
<link>http://www.boston.com/business/ticker/2011/05/morton_hospital_3.html</link>
<description><![CDATA[<p class="byline">By Robert Weisman, Globe Staff</p>

<p>Morton Hospital and Medical Center of Taunton today filed formal notice with the Massachusetts attorney general's office of its plan to be bought by Boston's Steward Health Care System LLC. The deal, which would convert a nonprofit hospital to for-profit status, must be approved by the Supreme Judicial Court of Massachusetts.</p>

<p>Attorney General Martha Coakley's office will review the planned transaction before making a recommendation to the state's high court. The state Department of Public Health must also approve the transfer of Morton's license to Steward, a holding company created last year to run the six Caritas Christi Health Care hospitals acquired by New York private equity firm Cerberus Capital Management.</p>

<p>The attorney general's office and the public health department  have scheduled a join public hearing on the Morton acquisition. It is scheduled for 6 p.m., June 30, at the Benjamin A. Friedman Middle School at 500 Norton Ave. in Taunton.<br />
</p>]]></description>
<dc:subject>Life sciences </dc:subject>
<dc:creator>globebusiness</dc:creator>
<dc:date>2011-05-26T18:07:52-05:00</dc:date>
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