LOUISVILLE, Ky. — A health care supply chain technology company is expanding in Jefferson County with a $7.8 million investment.
What You Need To Know
- HANDLE Global plans $7.8 million investment in Jefferson County
- Investment to bring additional warehousing, 80 jobs
- Company looking to double its employment by the end of 2021
The investment by HANDLE Global, doing business as Healthcare Asset Network, will bring additional warehousing and 80 jobs across the company's distribution and headquarters operations in Jefferson County.
“I’ve said many times in the fight against COVID-19, we are in this together, and few companies embody that spirit of togetherness like HANDLE Global,” Gov. Andy Beshear said of the company. “This Kentucky-based company is doing its part to combat the virus by working closely with health care providers and other organizations to meet drastically rising demand for supply chain analytics. In addition, its new expansion will provide new jobs, high wages and help HANDLE Global continue to lead by example during a challenging time.”
The Louisville-based company, founded in 2014, is led by former health care providers and manufacturing and technology executives who plan to double the company's employment by the end of 2021 at HANDLE's Norton Commons headquarters.
HANDLE's software-as-a-service business launched the Capital Cycle Management platform, "an end-to-end operating system for federal agencies and health care providers that drives services for capital planning and helps customers economically and efficiently manage their health care assets," according to a press release from the governor's office.
“HANDLE is proud to be a part of such a strong health care state,” said HANDLE CEO Kyle Green. “We look forward to continuing our success alongside other great Kentucky companies over the next decade and beyond. HANDLE will be looking to forge a stronger health care supply chain in our state and our country by bringing order to chaos.”
HANDLE also sells capital medical equipment like personal protective equipment (PPE). The company has a strategic stockpile program meant to protect health care facilities from price volatility and provide access to equipment and PPE when needed.
During its first years, HANDLE received assistance from KY Innovation, the state's office for entrepreneurial and small business support. It also applied for and received investments from the Kentucky Enterprise Fund and the Commonwealth Seed Capital.
HANDLE is part of over 200 health care-related technology, service and manufacturing facilities in Kentucky, a field that employs over 37,000 Kentuckians full-time.
“HANDLE Global, a homegrown health care company, has seen its tremendous growth in Louisville, which is both a testament to the hard work of the company’s team but also the strength of our city’s health care ecosystem,” Louisville Mayor Greg Fischer said. “During the COVID-19 pandemic, HANDLE Global has served an important role in helping get critical PPE into the hands of medical professionals all around the country who need it most. I want to thank HANDLE Global for its work to combat the spread of COVID-19 and wish the company continued success.”
The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 10-year incentive agreement with HANDLE under the Kentucky Business Investment program. The agreement can provide up to $1.4 million in tax incentives based on the company’s investment of $7.8 million and annual goals of:
- Creation and maintenance of 80 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $49 with benefits across those jobs.
The company can be eligible to keep a portion of the new tax revenue it generates by meeting the annual targets. The company may claim eligible incentives against its income tax liability and/or wage assessments.
HANDLE can also receive resources from the Kentucky Skills Network which allows companies to receive no-cost recruitment and job placement services, reduced-cost customized training, and job training incentives.