DALLAS, Sept. 30, 2011 – CCS Medical today announced the relocation of their corporate headquarters from Clearwater, Florida to Farmers Branch, Texas in the Dallas-Fort Worth Metroplex. CCS Medical has more than 1,500 employees in seven offices across the nation, and is a market leader in distributing home healthcare products and services to patients with chronic conditions in the United States.
“Selecting Texas for our corporate relocation was an easy choice. The state of Texas has a superior business climate and a strong workforce,” said CCS Medical Chief Executive Officer Dirk Allison. “This move will enable us to better serve our customers living with chronic medical conditions while continuing to provide the highest quality home medical supplies and service. We are grateful to the state of Texas and the city of Farmers Branch for helping to make this move possible, and we look forward to being a member of the community.”
CCS Medical is a privately held company and its largest shareholders are funds managed by Highland Capital Management, L.P. Patrick Daugherty, Head of Private Equity and Special Situations at Highland, said, “We are excited to bring a leading company like CCS Medical to Dallas-Fort Worth. North Texas’ dynamic business environment will help the company continue its leadership in the home medical supplies and services market.”
The corporate relocation was assisted by a combination of state and local funding. The Texas Workforce Commission has committed up to $506,000 in training funding; and the City of Farmers Branch is providing $250 per job created, up to $37,500, in direct incentive funding for the corporate relocation.
This move is projected to create approximately 230 new jobs over the next two years, with an average annual salary of more than $69,000 including benefits. Approximately 150 of those jobs will be located in their new corporate headquarters at the Park West building, located at the intersection of Interstate 635 (LBJ Freeway) and Luna Road in Farmers Branch. The remainder will be located at a warehousing facility in Coppell. The relocation is projected to have a nearly $90 million statewide economic impact by 2013, according to a study performed for CCS Medical by the University of Texas at San Antonio.
“We are pleased to welcome CCS Medical to Texas, along with the more than 200 new jobs that will be created as part of their headquarters relocation,” Texas Workforce Commission Chairman Tom Pauken said. “This announcement is great news for the Metroplex and Texas as our state continues to create jobs thanks to low taxes, a reasonable and predictable regulatory climate, and a skilled workforce.”
The Dallas Regional Chamber joined Chairman Pauken in welcoming CCS Medical. “We are delighted that CCS Medical Holdings has selected our region and Farmers Branch as its headquarters location,” said Dallas Regional Chamber Vice President Mike Rosa. “Our regional assets match well the operational requirements of a corporate headquarters, from our central U.S. location, to air access, to an incredibly supportive labor force and base of services and suppliers; all in a business-friendly package. As companies continue to evaluate where to grow, where to locate in order to be more efficient, and where to best access the U.S. economy, we should continue to have the privilege of welcoming new corporate citizens.”
About CCS Medical
Established in 1994, CCS Medical is a leading provider of mail order medical supplies. They assist patients that need diabetes test strips, insulin pumps, catheters, ostomy supplies, advanced wound care dressings, incontinence supplies, anticoagulation monitoring, and prescription medications. CCS Medical’s patient centered model specializes in a single source solution providing a convenient way for patients to receive supplies for their chronic conditions. They leverage strong manufacturer relationships to bring quality products at affordable prices. For more information on CCS Medical and DFW job opportunities, please visit www.ccsmed.com.
About Highland Capital Management, L.P.
Highland Capital Management, L.P. is an SEC‐registered investment adviser with approximately $23 billion of assets under management. It is one of the largest and most experienced global alternative credit managers, specializing in bank loans, high-yield credit, distressed debt, structured products, real assets, and long-short equities.
Highland’s diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, high net-worth individuals, and mutual fund investors. To best meet the different goals of these investors, Highland offers a variety of product types, including credit funds, private equity-style funds, managed separate accounts, hedge funds, retail mutual funds, and collateralized loan obligations (CLOs).
Highland Capital is headquartered in Dallas, Texas and maintains offices in New York, London, Singapore, and Seoul. For further information about Highland Capital Management, visit www.hcmlp.com.