Saying that “This new location will give us the space and ability to support future pharmaceutical client programs,” founder and CEO Nitin Sahney has announced a planned $52-million investment in the site, which is just across the state border from Louisville, KY, its current HQ. The company is already moving into two floors of an existing office building, and will start construction of an 80,000-sq.ft facility to house a call and operations center.
The company, founded in 2017, currently has 150 employees, and is planning capacity for 850 more in Indiana by 2023. Evidence of its fast pace: the company is soliciting job inquiries “immediately” for customer service representatives, benefit specialists, case managers and specialty nurses.
PharmaCord, privately held, is one of a number of organizations specializing in outsourced patient support and hub services, primarily for specialty pharmaceuticals, which typically require extensive “wraparound” services once a prescription is written. Sahney was formerly COO of Omnicare (which had its own hub service provider, RxCrossroads; that company is now owned by McKesson).
Pending approval from the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will offer PharmaCord up to $7.85 million in conditional tax credits based on the company’s job creation plans and up to $1.2 million in conditional tax credits from the Hoosier Business Investment (HBI) tax credit program based on the company’s planned capital investment in Indiana.