Brian Johnson, president of the industry group MassMEDIC, played a pivotal role in ensuring that the organ transplant company TransMedics remains in Massachusetts. When New Hampshire Governor Kelly Ayotte actively sought to attract TransMedics to her state, Johnson took immediate action by reaching out to Massachusetts Governor Maura Healey and Lieutenant Governor Kim Driscoll.
“I just impressed upon them this is a flight risk and this is a company we don’t want to lose,” Johnson stated. His urgency was echoed by Healey and Driscoll, who responded with a decisive strategy to retain the company. TransMedics, founded by Waleed Hassanein, was contemplating a relocation to Salem, New Hampshire, just 15 minutes from its current location in Andover.
In June 2023, the Massachusetts leaders engaged directly with Hassanein, urging him to reconsider the potential move. Following these discussions, Driscoll visited Hassanein, and in August, Healey led a delegation to TransMedics’ headquarters, offering a comprehensive package of financial incentives. The successful negotiations culminated last week when TransMedics announced its decision to lease nearly 500,000 square feet in Somerville, with plans for future expansion.
This expansion will involve relocating approximately 350 employees from Andover, including manufacturing operations. Hassanein anticipates the creation of up to 600 new jobs, significantly boosting the local economy. The decision was facilitated by a robust package of city and state incentives, which includes up to $18 million in tax credits from the Massachusetts Life Sciences Center and an additional $18 million in property tax breaks from Somerville.
Driscoll highlighted the importance of companies like TransMedics, stating, “This expansion sends a clear message: If you’re building the future, Massachusetts wants to build it with you.” Johnson’s efforts to connect TransMedics with state leaders had a significant impact. He began building relationships with the company in 2024, focusing on enhancing its visibility within the local medical technology sector.
Johnson emphasized that his motivation was not about increasing membership dues for MassMEDIC, although TransMedics eventually joined the organization in late 2022. “We want companies growing here,” he said, stressing the need for collaboration to sustain Massachusetts’ economic momentum in the medical technology field.
In related news, Fred Laskey, the executive director of the Massachusetts Water Resources Authority, announced his retirement after more than two decades in the role. Laskey has overseen significant improvements to Boston Harbor, transforming it from a polluted area into one of the cleanest harbors in the United States. Under his leadership, the MWRA has also partnered with Biobot Analytics to monitor COVID-19 levels in the sewage system.
Laskey hopes to leave by the end of March 2024, with the MWRA board planning to initiate a search for his successor. As his tenure concludes, Laskey reflects proudly on the harbor’s transformation, stating, “I can say with a clear conscience that I’ve made Boston Harbor a better place.”
Meanwhile, Boston Scientific has announced its largest acquisition since 2006, agreeing to purchase Penumbra for $15 billion. This strategic move underscores CEO Mike Mahoney’s commitment to strengthening the company’s position in the medical device market. Analysts have generally praised the acquisition, though some raised questions regarding the premium being paid.
As Wall Street keeps a close watch on economic developments, the Federal Reserve Bank of Boston has appointed a new board chair, Lizanne Kindler, and added several new members, maintaining stability amid broader national discussions regarding monetary policy.
In a notable retail development, ButcherBox has partnered with Target to expand its offerings of fresh, grass-fed beef products to nearly 1,500 locations nationwide. CEO Mike Salguero expressed excitement over this collaboration, which marks a significant step for the company originally founded in 2015 to deliver high-quality meat directly to consumers.
These developments highlight the dynamic nature of Massachusetts’ business landscape, with significant strides being made in various industries, from healthcare to environmental management and retail innovation.
