BUSINESS BRIEFS: New Doc, New Community Group, Better Econ News, and More...

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New Doc at Milford Physician Group

Sujay Sethi, MD (above) has joined Milford Regional Physician Group (MRPG), specifically, Milford Regional Neurology, located in the Hill Health Building, 14 Prospect Street, Milford Regional Medical Center. “We are thrilled to have Dr. Sethi as a part of the division of Neurology,” said Milford Regional Chief of Neurology Eliezer Sternberg, MD. “Aside from his elite training and experience, Dr. Sethi is a wonderful clinician with a warm temperament and bedside manner and his presence here will make an incredible impact on neurological care in our community.”Board certified in general neurology, neuromuscular medicine, and electro-diagnostic medicine, Dr. Sethi comes to Milford Regional Physician Group from Brigham and Women’s Hospital and South Shore Hospital, where he spent the last couple of years as a staff neurologist and consulting neurologist.

Communities DO Matter

Newly established Tri-County Chamber of Commerce member, Communities Matter, is aiming to help local communities and municipalities solve problems, find new direct, and provide greater opportunities for people. Founder Ann Ragosta has a background in business and local government and community groups. See our interview with non-profit leader Ragosta tomorrow in Franklin Observer.

UMass Journal: Economy Still Buoyant

In the second quarter of 2023, real gross domestic product (GDP) in Massachusetts increased at a 4.0 percent annualized rate according to MassBenchmarks and shared by 495/Metrowest Partnership, while U.S. GDP increased at a 2.4 percent annualized rate, according to the U.S. Bureau of Economic Analysis (BEA). In the first quarter of 2023, Massachusetts GDP grew at a 2.5 percent annualized rate as compared to 2.0 percent for the U.S., according to the BEA. The authors warned thatmployers continued to hire and labor force participation reached pre-pandemic levels for so-called “prime aged” workers 25-54 years old, a pace they called “unsustainable.”

Waters Corporation (NYSE: WAT) Reports 2nd Quarter Financials

Highlights

• Sales of $741 million grew 4% as reported and 3% in organic constant currency
• Strength led by double-digit growth in Industrial and Academic & Government
• Operational excellence added 230 basis points of gross margin expansion
• High single-digit organic constant currency growth in the U.S. and Europe was partially offset by Pharma weakness in China
• Wyatt acquisition ahead of expectations with 2% sales contribution in the quarter

Dr. Udit Batra, President & CEO, Milford-based Waters Corporation: "We saw solid growth across the U.S. and Europe, while navigating a difficult market in China. We executed well across our end-markets with mass spec growth of almost 20%, and TA continued its trend of double-digit growth."

 More Mixed Real Estate Numbers

Norfolk County Register of Deeds William P. O’Donnell reported that Norfolk County recordings for July show a significant increase in average property sale prices compared to both the previous year and the previous month. This surge can likely be attributed to having limited housing inventory in a competitive market.

“Average property prices are up significantly this month, and while this may be good news for sellers and investors, it makes it increasingly difficult for first-time homebuyers and homeowners looking to move, especially with high interest rates relative to what they were in 2020 and 2021,” stated Register of Deeds William P. O'Donnell.