February 14, 2019
Tuesday, December 29, 2015
Project will create 55 jobs and $582,000 capital investment
ORLANDO, Fla. – SMRxT, a medical information technology and services company, chose to relocate its corporate headquarters from New York to Orlando. The relocation will create 55 jobs and make a $582,000 capital investment in the community.
Governor Scott said, “I am proud to announce today that SMRxT has chosen to relocate from New York to Florida and create 55 new jobs for Orlando families. We will keep working to diversify our economy by cutting $1 billion in taxes and creating a new $250 million Florida Enterprise Fund so we can attract more job creators to our state and make Florida first for jobs.”
SMRxT specializes in prescription medication adherence with real-time information and smart sensor technology. They have developed a solution that precisely records, monitors and quantifies the time and dose of a patient that has taken their medication, which allows healthcare providers and doctors to more closely monitor prescription medication intake and ensure the best method of treatment for patients.
Mike Huffer, R.Ph. M.S. President and CEO of SMRxT, said, “We are extremely pleased with our decision to move SMRxT Inc. to Orlando. We have also relocated our medication bottle manufacturing from Virginia and have been able to reduce manufacturing costs by 40 percent. The Central Florida community has welcomed us with open arms and is the exact health care and technology hub we were looking for.”
The SMRxT expansion was made possible through partnerships between Enterprise Florida, the Florida Department of Economic Opportunity, the Orlando Economic Development Commission, City of Orlando, and IQOrlando.
Bill Johnson, President and CEO of Enterprise Florida, said, “Anytime a great company like SMRxT decides to relocate their corporate headquarters to Florida, it’s a great day for our state. By doing so, SMRxT will also be creating 55 new jobs in the community. I look forward to their continued success as we keep working to diversify our economy and make Florida the best place for business.”
DEO Executive Director Jesse Panuccio said, “The Scott Administration’s pro-growth policies are continuing to attract new companies and jobs to the Sunshine State. The relocation of the SMRxT headquarters to Orlando is more great news for one of the best job markets in the state.”
“The American Heart Association estimated that three out of four Americans do not take their medication as directed,” Orlando Mayor Buddy Dyer said. “With this technology from SMRxT, we hope to reduce the nearly $300 billion a year cost to the health care system in additional doctor visits, emergency department visits and hospitalization from medical non-adherence.”
“Our vision is to grow Central Florida’s life science and health care cluster through a new corporate partnership that’s focused on launching, recruiting and funding companies that ultimately improve the health of the population, increase access and lower the cost of health care,” said Rick Wassel, Managing Director of IQ Orlando. “SMRxT, with its smart sensor and software technology, is pioneering medical products to reduce healthcare costs and improve individual health outcomes.”
“SMRxT’s inventive new technology expands on the recent growth of medical innovation in the region,” Rick Weddle, president and CEO of the Orlando Economic Development Commission (EDC) said. “We are very excited to see the forward progression of this company and the positive impact it will have on the community.”
SMRxT was founded by Victor Chu and Stephan Valter in 2010 to change the way the world looks at medication adherence. In 2011, SMRxT’s first prototype pill bottle successfully measured and sent the medication count within the bottle over a wireless network in real-time.
Orlando Economic Development Commission (EDC) is a not-for-profit, public-private partnership that attracts, retains and grows jobs for the region. The EDC serves Orange, Seminole, Lake and Osceola counties and the City of Orlando in Florida. Since its start in 1977, the EDC, with the support of its community partners, has assisted thousands of companies locate and expand in the four-county Orlando region. For more information, visit www.OrlandoEDC.com