Governor Steve Beshear's Communications Office
Edumedics LLC to Expand Louisville Headquarters
Chronic disease management company to create 17 new jobs
FRANKFORT, Ky.– Another Louisville health care company is growing.
Gov. Steve Beshear and Mayor Greg Fischer announced today that Edumedics LLC, a chronic disease management company, plans to expand its corporate headquarters. The company is expected to create 17 new jobs.
“Another win for Kentucky’s growing health care industry,” said Gov. Beshear. “Louisville continues to be a world leader in lifelong wellness and aging care, and Edumedics’ announcement only helps solidify that status. It’s always exciting to see a home-grown company expand its services nationwide.”
“It’s exciting when you see a home-grown and data-driven entrepreneurial business take hold and thrive like Edumedics is doing,” said Mayor Fischer. “The new jobs and facilities they are creating and their focus on increasing wellness and reducing chronic disease makes this another exciting announcement related to Louisville’s lifelong wellness and aging care sector which is already the best in the world, and growing quickly.”
Edumedics plans to build out new on-site clinics, enhance its data infrastructure and hire nurse practitioners, data analysts, sales directors and support staff. The expansion will require more office space for Edumedics’ headquarters, which is located in the Nucleus Innovation Park in downtown Louisville.
“In the past three years we have demonstrated the effectiveness of our programs and have saved meaningful health care dollars for our clients,” said Alice Shade, Edumedics’ CEO and co-founder. “We are now expanding to meet the needs of the many organizations throughout the country that are grappling with these same issues – controlling the cost of care while improving the health of their employees. We’ll help them do both.”
Two Louisville-based health care professionals started Edumedics when they recognized that employees with chronic conditions – such as diabetes and hypertension – can account for up to 75 percent of a company’s medical costs. Edumedics analyzes a company’s trends and provides individualized coaching and health care management to employees who have a chronic condition. Then, Edumedics dramatically improves medical treatment and compliance to standards of care which, in turn, lowers claims for service.
Edumedics provides services to more than 20 clients in six states, covering more than 60,000 plan members. The expansion will allow the company to expand its footprint to other parts of the country.
“Today’s announcement is a reflection of the outstanding business climate and quality workforce that the Louisville Metro Area offers to companies already located here and to those looking to move to our region,” said Rep. Julie Raque Adams, of Louisville. “I commend Edumedics on its decision to expand corporate operations and create more jobs for our economy.”
Health care is a major industry in Kentucky, employing nearly 430,000 people in the state last year.
The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $340,000 through the Kentucky Business Investment (KBI) program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.
To learn more about Edumedics, visit www.edumedics.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook or follow on Twitter. Watch the Cabinet’s “This is My Kentucky” video on YouTube.
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