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Daily Business Update

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Mon. Jan. 07, 2013

AG Martha Coakley fines National Grid for pay delays

With hundreds of National Grid employees still unpaid for work performed during Hurricane Sandy because of payroll system glitches, attorney general Martha Coakley on Monday fined the utility $270,000. She called on National Grid to “resolve this matter immediately” or risk more fines. National Grid began using a new payroll system shortly before Sandy hit the region in late October., leaving the company little time to fix any glitches before it had to handle the complex pay and overtime issues created by the massive storm.

Athenahealth, an electronic health records firm, agrees to buy Epocrates for $293m

Athenahealth Inc., a Watertown company that provides electronic record and billing systems to hospitals and other medical industry clients, said it has agreed to buy Epocrates Inc., which has developed point-of-care medical applications that about 330,000 doctors use as reference tools, in many cases on their iPhones. The companies’ boards of directors have agreed to a price of $11.75 per share, in cash, for an aggregate purchase price of about $293 million. The purchase price represents a 22 percent premium over Friday’s closing price for Epocrates shares on NASDAQ.

Globe seeks nominations for Most Innovative People in Massachusetts

The Boston Globe is seeking the most innovative people in Massachusetts -- individuals who did the most in the past year to transform a business or their community. And we need your help. You can nominate candidates using this convenient online form. The achievements of candidates could range from introducing a new product that changed the way people work or play, to launching a new effort that became a runaway success. What’s important is that the bulk of their accomplishment occurred in the past 12 months.

Publisher of Yankee Magazine and the Old Farmer’s Almanac buys assets of company that puts out New Hampshire Magazine

Yankee Publishing Inc., the New Hampshire company that publishes the Old Farmer’s Almanac and Yankee Magazine, said Monday that it has acquired the assets of McLean Communications, which publishes New Hampshire Magazine, New Hampshire Business Review, Parenting New Hampshire, New Hampshire Home, and other publications. McLean will operate as a wholly-owned subsidiary of Yankee Publishing Inc., which also goes by YPI. YPI said it now employs a staff of 82 people. Terms of the transaction are not being disclosed.

Judge denies move to block sale of Upper Crust restaurant leases

A Suffolk Superior Court judge has rejected an attempt to block the sale of leases at four bankrupt Upper Crust restaurants to a private equity firm with ties to the pizza chain’s ousted founder.

Mass. gas prices are up 4 cents a gallon, the first weekly increase since October

The average price for gas in Massachusetts is $3.459 a gallon in the latest weekly AAA survey, up 4 cents from the previous week’s average, AAA Southern New England said Monday. It was the first weekly increase locally since early October, AAA Southern New England added. The current national average for a gallon of gas is $3.29. A year ago at this time, the Massachusetts average price was $3.37.

Wayne F. Patenaude is the new chief executive of Cambridge Savings Bank

Cambridge Savings Bank announced Monday the appointment of Wayne F. Patenaude as president and chief executive of Cambridge Financial Group Inc. and Cambridge Savings Bank. Patenaude, who succeeds Robert M. Wilson, has served as the bank’s chief financial officer and treasurer since 2007.

Newton software company Attivio secures $8m in new funding

Attivio Inc., a Newton-based software company, said Monday it has secured $8 million in funding from the General Electric Pension Trust. That is in addition to a $34 million investment round that was led by Oak Investment Partners and that was announced in October. Attivio’s software enables companies to analyze their data to solve complex business problems. Attivio calls its product the Active Intelligence Engine, or AIE.

Henri Jacques LLC buys office building in Hub’s Financial District for $6.4m

National Development has sold a six-story office building in Boston’s Financial District to local real estate investor Henri Jacques LLC for $6.4 million, said brokers involved in the transaction. The brokers are Coldwell Banker Commercial NRT, which represented the seller, and Chandler Co. LLC, which represented the buyer. With nearly 22,000 square feet of space including street-level retail space, the building has two addresses --- 274 Franklin St. and 67 Batterymarch St.

Covidien’s Tri-Staple technology platform for surgeons hits milestone of $1b in sales

Covidien, a global provider of health care products that is incorporated in Dublin but has its headquarters in Mansfield, said Monday that its Tri-Staple technology platform has achieved more than $1 billion in sales. Launched in mid 2010, the technology enables surgeons to use staplers in a broader range of tissue thicknesses. The Covidien product line that incorporates this technology is employed in a wide range of laparoscopic surgical procedures.

NeuroMetrix starts shipping pain-management system designed for diabetics

NeuroMetrix Inc., a Waltham-based medical device company, said Monday that it has started commercial shipment of its SENSUS Pain Management System, a device that helps manage chronic pain in the lower leg or foot. The system is a lightweight electrical nerve stimulator that is worn on the upper calf and activated by the press of a button. According to the company’s website, trancutaneous electrical nerve stimulation has been shown to provide pain relief for patients with diabetes.

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