PROVIDENCE BUSINESS NEWS
PBN pbn.com
OCTOBER 16-23, 2020
CYBERSECURITY
PBN SUMMIT RECAP
Companies at a loss to handle ransom threats | 17
HEALTH MATTERS
Clinical trial on plasma makes headway in R.I. | 8
YOUR SOURCE FOR BUSINESS NEWS IN SOUTHERN NEW ENGLAND | VOL. 35, NO. 30 | $4
CORONAVIRUS CRISIS Amid hospital mergers, some still going it alone BY NANCY LAVIN | Lavin@PBN.com
OUR LADY OF FATIMA Hospital. Landmark Medical Center. Westerly Hospital. Memorial Hospital. Over the last decade, mergers, acquisitions, affiliations and closures have consumed all but one of the state’s independent hospitals: South County Hospital. The South Kingstown facility, too, faces financial pressures, skating on increasingly thin operating margins, according to its annual reports. And the pandemic, which has slashed revenues and spiked operating expenses for hospital systems around the country, certainly hasn’t helped.
FOCUS: HEALTH CARE
SEE HOSPITALS PAGE 23
ONE LAST THING
EAGER TO EXPORT
Changes brought on by COVID-19 easing expansion efforts into foreign markets BY ALEXA GAGOSZ | Gagosz@PBN.com
WHEN
the COVID-19 pandemic hit in March, Susan Mocarski had to act fast before the crisis unraveled the hard work she had invested in her business. Mocarski sells quirky, high-performance rain capes she designed herself that are popular among cyclists, and particularly in New York City. But when COVID-19 cases started to skyrocket in the U.S., her Providence-based company, Cleverhood LLC, saw domestic sales tumble. Cleverhood had already looked to extend its reach to markets in Europe and Asia more open to Mocarski’s unconventional style of apparel, and after receiving a $6,000 grant from the U.S. Small Business Administration’s State Trade Expansion Pro-
CHIEF INSPECTOR: Richard Fryburg, left, president of Subsalve USA, examines one of the company’s products as it’s being manufactured by employee Ray Stacy on the factory floor in North Kingstown. Subsalve is projecting growth in overseas sales heading into 2021. PBN PHOTO/ELIZABETH GRAHAM
SEE FOREIGN MARKETS
Madalyn Ciampi Keep staff well-being in focus | 31
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