FRANKFORT, Ky. (Nov. 2, 2020) - Healthcare Asset Network, doing business as HANDLE Global, which develops, sells and implements technology in support of the health care equipment supply chain, is expanding in Jefferson County with a $7.8 million investment toward additional warehousing and 80 high-paying jobs across its distribution and headquarters operations.
"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. "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."
Founded in 2014, Louisville-based HANDLE Global is led by former health care providers and manufacturing and technology executives. They plan to double the company's employment by the end of 2021 at HANDLE's Norton Commons headquarters. The company's core software-as-a-service business recently launched its 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.
Through the COVID-19 pandemic, HANDLE has provided clarity and guidance to health care systems, government agencies and businesses across the country through supply chain analytics. Additionally, the company was awarded the Deployment of Equipment Recertification, and Management of Surge Capacity contract from the Veterans Health Administration, to support the identification, recertification and rebalance of critical care items within the VA surplus equipment fleet.
"HANDLE is proud to be a part of such a strong health care state," said Kyle Green, CEO at HANDLE. "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."
In addition to its supply chain analytics platform, HANDLE sells capital medical equipment, including comprehensive personal protective equipment (PPE). Complementing the company's capital equipment and PPE capabilities, its strategic stockpile program protects health care facilities from price volatility and provides instant access to critical equipment and PPE when it is needed the most. The stockpile program is strengthened by its existing 30,000-square-foot warehouse in Louisville. HANDLE is currently finalizing plans to lease additional warehouse space in Jefferson County within the next month.
As an example of a tech startup founded and scaled in Kentucky, HANDLE received assistance in its first years through KY Innovation - the commonwealth's office for entrepreneurial and small business support. As well, it applied for and received investments from the Kentucky Enterprise Fund, managed by the Kentucky Science and Technology Corp., and also Commonwealth Seed Capital. HANDLE's growth plans announced today demonstrate the benefits of early investments in scalable startups.
HANDLE is among the more than 200 health care-related technology, service and manufacturing facilities operating in the state, which employ over 37,000 Kentuckians full-time. The industry includes headquarters operations, pharmaceutical makers, medical equipment design and production, medical device manufacturers and health care product distributors.
Louisville Mayor Greg Fischer noted the company's role in the ongoing fight against COVID-19.
"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," Mayor 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."
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $1.4 million in tax incentives based on the company's investment of $7.8 million and annual targets of:
- Creation and maintenance of 80 Kentucky-resident, full-time jobs across 10 years; and
- Paying an average hourly wage of $49 including benefits across those jobs.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, HANDLE Global 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.
For more information on HANDLE Global, visit HANDLEGlobal.com. Companies and organizations with medical logistics needs in the fight against COVID-19 can contact Brandon Carlson at email@example.com.
A detailed community profile for Jefferson County can be viewed here.
Information on Kentucky's economic development efforts and programs is available at www.CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov and LinkedIn.
Read about other key updates, actions and information from Gov. Beshear and his administration at governor.ky.gov, kycovid19.ky.gov and the Governor's official social media accounts Facebook, Twitter and YouTube.