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Meditech Breaks Ground in Fall River
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Medical Software Firm to Create 600 New Jobs September 21, 2006 Contacts: Joe Raposa, FROED, 508-324-2620 Adam Bickelman, MassDevelopment, 617-330-2086 Fall River, MA - With earth moving equipment and the South Watuppa Pond as a backdrop, Medical Information Technology, Inc. (Meditech) broke ground today on Meditech Southcoast, a 128,000 square foot, four-story facility that, once fully operational, will bring as many as 600 new jobs to the City of Fall River. Meditech, a "global leader in the health care information systems industry for 37 years," is regarded as the Commonwealth's oldest software firm and currently employs 2,300 people in five facilities throughout the state. The company's sixth location at 101 Martine Street will grace 17 acres of the former Kerr Mill site, marking the firm's first new building outside the Route 128 belt/Mass Pike area. A. Neil Pappalardo, Meditech's founder, Chairman & CEO, welcomed Fall River Mayor Edward M. Lambert, Jr. and officials representing the Fall River Office of Economic Development (FROED), Fall River Redevelopment Authority, MassDevelopment and the Massachusetts Department of Business and Technology for a brief groundbreaking ceremony. They were joined by members of Meditech's senior management team including Lawrence Polimeno, Vice Chairman, Howard Messing, President & COO and Sheila Lemke, Designer/Project Manager. Several city and state elected officials as well as local business and education leaders were also in attendance. Mr. Pappalardo said that the groundbreaking was a culmination of a great partnership between his company, the City of Fall River, MassDevelopment and the state. "We began this process more than a year ago when we first identified this terrific site," he explained. "We made a decision to expand in Massachusetts, and we felt Fall River was an ideal location based on the availability and quality of its workforce. Mayor Lambert and his economic development team were very supportive from the beginning, and we enjoyed a similar relationship when we began working with MassDevelopment and the state." Mr. Pappalardo noted that the Meditech Southcoast facility will be completed in about eighteen months, but the company has been hiring locally and currently leases space "next door" in UMass Dartmouth's Advanced Technology and Manufacturing Center (ATMC). "We've been growing steadily every year, and once the building is completed, our intention is to bring those folks over to the new facility. We fully expect to have 600 employees onsite within three to four years." Mayor Lambert, Chairman of FROED's Board of Directors, called the expansion a "signature project for a signature site" and lauded the company's commitment to create hundreds of good-paying technology jobs in the city. "Today's announcement is 'groundbreaking' not only for Meditech, but also for Fall River's efforts to attract more high-tech firms to our city. This project signals that Fall River is open for business, and that we're a very viable, cost-effective option for technology firms burdened by high costs and labor shortages in the Route 128 belt." The mayor observed that the former Kerr Mill site had experienced a rebirth in recent years, nearly two decades after being destroyed by a massive fire in 1987. He pointed to the abutting ATMC as a symbol of the city's resilience and highlighted the strong partnerships that have made these projects possible. "From our legislative delegation and City Council to MassDevelopment and UMass Dartmouth, many people have played an important role in transforming this site and strengthening the Fall River economy. I'm grateful for their hard work, and on behalf of the City of Fall River, I again offer my sincere thanks to Neil, Larry and the entire Meditech team for their willingness to invest in our city." MassDevelopment, the state's finance and development authority, works with businesses, financial institutions and local officials to stimulate economic growth across the Commonwealth. "Meditech's decision to locate its new facility in the South Coast Research and Technology Park will lead to the creation of more than 500 jobs, while completing the revitalization of the former Kerr Mill site," said Robert L. Culver, MassDevelopment President/CEO. "We're happy to see this day and to have had a hand in getting the site cleaned up and ready for the new owners. Congratulations to Meditech, the City of Fall River and the people who will work here for decades to come." Kenneth Fiola, Jr., Esq., FROED's Executive Vice President, stressed the positive impacts that the Meditech project will have on the Fall River economy. "Whenever you talk about a project of this magnitude, with a major private investment and hundreds of good-paying jobs, you recognize that the benefits to the community will be substantial. Meditech is a medical software business, and the new facility will create excellent job opportunities in a growth industry. That's exactly the type of diversification and development that the city needs." Fiola went on to recognize the Fall River Redevelopment Authority and MassDevelopment for facilitating the Meditech project. "Again, this project is the product of cooperation and teamwork, and many people and organizations deserve our gratitude." Fast Facts - Meditech Southcoast is first Meditech facility outside Route 128 belt/Mass Pike - 128,000 square foot, four-story building on 17 acres of former Kerr Mill site - site abuts UMass Dartmouth's Advanced Technology & Manufacturing Center - as many as 600 new jobs projected - Meditech considered state's oldest software firm - more than 37 years developing, installing and supporting information systems - privately held firm - more than 2,300 employees - major markets include U.S., Canada, U.K., Ireland and South Africa; Latin America and Spain initiative underway - more than 2,000 customers worldwide - 99% customer retention rate - software revenues of $305 million in 2005 - 5A1 Dun & Bradstreet credit rating For more information on Meditech, please visit the company's website, www.meditech.com.
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