Gov. Malloy: Carecentrix Growing Presence in Connecticut With New Stamford Office

Press Release

Governor Dannel P. Malloy today announced that CareCentrix is expanding its Connecticut operations with a new office in Stamford after finalizing a lease agreement on Wednesday. In June 2012, CareCentrix became the fifth company to participate in Governor Malloy's "First Five" program, a job creation initiative administered by the Department of Economic and Community Development (DECD).

"First Five has given us the tools we need to create good paying jobs with good benefits for Connecticut residents," said Governor Malloy. "The health care industry has been a major driver of our economy in recent years. That's why we are excited by CareCentrix's decision to not only keep its headquarters in Connecticut but continue to grow here, which means more innovative partnerships in the health services field, millions in new capital investment, and hundreds of jobs for our residents."

Last year, CareCentrix announced its plans to relocate its corporate headquarters from East Hartford to Hartford, a project that, as part of "First Five", is expected to create hundreds of new jobs by 2017 and retain its current employee base during that same time span. In addition to taking new office space in Stamford to support its growth, CareCentrix has already created over 100 new jobs in Connecticut and invested millions in its Hartford project since June 2012.

"When we partnered with the state in the Governor's First Five program, we knew that Connecticut was the right place for our company," said John P. Driscoll, CareCentrix CEO. "CareCentrix is extremely well-positioned to improve patient outcomes by ensuring that millions of patients receive quality care in their homes, and we applaud the Governor and the state for helping to create an economic environment which will enable us to continue our rapid growth."

CareCentrix is a leading provider of home health benefits management services dedicated to improving patient outcomes while reducing overall healthcare costs. To accomplish this, CareCentrix partners closely with patients, health plans, and home care providers to offer patient-focused products and services across the home health continuum, including: benefits management for home nursing, home infusion therapy, and home medical equipment; sleep management solutions; and a hospital readmission reduction program.

The First Five (also called Next Five) program provides incentives and tax credits to businesses that create a minimum of 200 new, full-time jobs in the state. After receiving overwhelming bipartisan support for the legislation in the General Assembly, Governor Malloy signed the bill into law on July 8, 2011. Under the 2011 Jobs Bill, First Five was expanded into the First Fifteen program. The 11 companies participating are expected to create or retain up to 17,200 jobs and make more than $1.3 billion in new capital investments in the state.

"As the numbers clearly show, First Five is doing exactly what it was intended to do -- fueling job growth and leveraging large-scale capital investment. That's why it is one our most powerful and effective economic development tools," said Catherine Smith, DECD Commissioner.

Source