Company to invest more than $2.3 million for upgrades
FRANKFORT, Ky. (Sept. 24, 2015) — PARx Solutions Inc. is expanding its Louisville operations and plans to invest $2.3 million into the project and create 75 jobs. The company simplifies the authorization process for prescriptions not initially covered by patients’ insurance plans.
“By expanding only two years after moving into the Commonwealth, PARx Solutions proves it found a great fit with Kentucky,” said Gov. Steve Beshear. “Louisville continues growing its health care and pharmaceuticals sectors. We welcome the jobs this expansion brings.”
PARx Solutions plans to expand its operation center at 10200 Linn Station Road in Louisville to accommodate substantial near-term growth. The company, which also maintains facilities in California, opened its operations center in Louisville in 2013. PARx Solutions plans to use its expanded center as its primary growth hub supporting its national customer base.
“With the expansion of PARx Solutions physician support services, Louisville is continuing to meet the growing needs of the lifelong wellness and aging sector by fostering innovative companies that will further research and patient care,” said Mayor Greg Fischer. “We are excited that PARx is investing in Louisville and look forward to working them as a corporate citizen.”
PARx Solutions was founded in 2008 to assist physicians and pharmacies with processing prior authorizations for medications. The company’s Prior Authorization Support System (PASS) services help streamline the process for patients to receive needed medications and therapies. PASS aims to complete the prior-authorization process in two business days or less.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment 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.
In addition, PARx Solutions is eligible to receive resources from the Kentucky Skills Network. Through the Kentucky Skills Network, companies are eligible to receive no-cost recruitment and job placement services, reduced-cost customized training and job training incentives. Last year, the Kentucky Skills Network trained more than 84,000 employees from more than 4,100 Kentucky companies.