Gov. Matt Bevin has announced PatienTech LLC, a manufacturer of tech-enabled healthcare products, will open a production facility in Mason County with a nearly $1.8 million investment expected to create up to 100 full-time jobs.
“Kentucky’s healthcare industry continues to grow at an extraordinary pace, and the arrival of PatienTech to the commonwealth highlights the growing presence of companies who service the industry,” Gov. Bevin said. “We are proud to welcome this company to our state, and we are grateful to PatienTech for creating 100 new jobs for our dedicated workforce.”
PatienTech will lease a 22,000-square-foot facility at 1510 Industrial Park Drive to relocate production from a Canadian operation. The project comes as PatienTech seeks to capitalize on growing global demand for medical and residential smart bed products. A recent partnership with KKR/Hilding Anders to bring smart beds to Asia and Europe is also a driving factor. The Maysville facility will focus on production of smart bed components, including RF-welded bladders, computerized pumps and overall smart bed construction, for retail, healthcare and sports markets.
“PatienTech is excited to expand its operations in Mason County and believes the combination of a talented and diverse workforce, great facilities and a family friendly environment makes Mason County the ideal place for businesses to grow,” said Rob Golden, PatienTech CEO.
Founded in 2010 to commercialize its patented smart fabric technology, PatienTech was the first to convert common fabrics into electronic data collection devices. The company got its start with healthcare products to protect patients from pressure ulcers and bed falls. It currently develops and markets advanced medical, sleep and sports systems using proprietary and patented smart fabric technology. The company operates four divisions; Vista Medical (healthcare), ReST (consumer sleep), BodiTrak Sports (sports performance and medicine) and the Head Health Network (concussions and head trauma).
Rep. John Sims Jr., of Flemingsburg, said investment like PatienTech’s speaks to the area’s quality of workforce and the collaborative nature of supporting partners.
“I want to thank PatienTech for this investment and for adding so many jobs in this expansion,” Rep. Sims said. “This decision speaks volumes about all that we have to offer, from our quality of life to our second-to-none workforce. I’ve been proud to work with local and state leaders to help make announcements like this possible.”
Maysville Mayor Charles Cotterill called job creation a top priority.
“Our administration’s priority is doing whatever it takes to find, attract and land high-paying, self-sustaining employment for the residents of Maysville,” Mayor Cotterill said. “These new technology-related jobs will help individuals and ensure they have well paying positions to support their families. With the large baby boomer aging population, PatienTech should have a long and bright future. I and all of Maysville are thrilled to welcome PatienTech to our ever-growing employment base here in Maysville, Kentucky.”
Mason County Judge-Executive Joe Pfeffer said the project reflects the strength of the region’s business climate.
“The PatienTech announcement only underscores that Maysville and Mason County are certainly making an impact in terms of economic development in attracting high-paying, self-sustaining jobs to our region,” Judge-Executive Pfeffer said. “The fact that PatienTech chose Maysville and Mason County over several other sites highlights our region’s attractiveness to high-tech manufacturers. Just from our availability of labor, Maysville and Mason County is second to none. I am very pleased to welcome Mr. Golden and PatienTech to Mason County.”
Owen McNeill, executive director of the Maysville-Mason County Industrial Development Authority (MMCIDA), said the arrival of PatienTech has been long in the making.
“Today’s PatienTech Maysville announcement represents a milestone for the project, unveiling Maysville, Kentucky’s newest cutting-edge, high-tech manufacturing employer and the culmination of six months of work,” McNeill said. “Throughout the location vetting process, executives with PatienTech continued to highlight the Maysville region’s highly skilled manufacturing workforce and optimal location for logistics as key contributors. Given their advanced technology and focus on improving the lives of their customers, I am convinced the sky is the limit for this industry leader. The MMCIDA Board is thrilled to welcome PatienTech to the Maysville area.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved the company for tax incentives up to $1 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of the new tax revenue it generates over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
In addition, PatienTech can receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies can receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives.
(provided by Commonwealth of Kentucky Governor's Office)