Standard Medical Acceptance Corporation Establishes Its Operations Center In Edenton, North Carolina
01/21/2014
A privately held company with offices in New York, SMA is a technology leader in the valuation and collateralization of health care receivables for the nation’s leading banks. SMA’s unique and proprietary cybernetic algorithm accurately determines the value of the collateral pool in real time for the benefit of both bank and hospital.
“The level of support and enthusiasm that SMA has experienced in Edenton is unprecedented in our experience,” said Bill Lanzen, who co-founded SMA together with Sylvain Raynes. Raynes added that, “the way in which The Support Center, North Carolina Department of Commerce, Edenton Chowan Partnership, Town of Edenton and the people of Edenton worked in collaboration with our firm, as well as the can-do attitude that made this move possible, represent a paradigm shift in cooperative development that other states should try to emulate.”
Building on a foundation of extensive experience encompassing securitization, collateral valuation, health care finance and trade clearing, the New York-based company developed a unique technology platform that addresses and solves funding problems for health care providers. The company will be locating its new operations center in Edenton. In addition, SMA will expand and relocate the company’s main data processing facilities to North Carolina.
"Employers looking to expand or relocate their businesses continue to choose Eastern North Carolina for its strong job creation climate and skilled workforce," said Gov. Pat McCrory. "The North Carolina model is a blueprint for job creation, and the investment Standard Medical Acceptance is making in Edenton with more than 32 high-paying jobs opens the door to significant opportunities for Chowan County and its families."
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $156,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, College of the Albemarle, North Carolina’s Northeast Commission, The N.C. Support Center, Edenton Chowan Partnership, Town of Edenton and the Golden LEAF Foundation.
Project Announcements
Blue Buffalo Expands Richmond, Indiana, Production Complex
03/24/2023
Schrödinger Expands New York, New York, Research Operations
03/23/2023
Cirba Solutions Plans Richland County, South Carolina, Lithium-ion Battery Materials Campus
03/23/2023
Albemarle Corporation Plans Chester County, South Carolina, Lithium Hydroxide Processing Plant
03/23/2023
Tillamook County Creamery Association Plans Decatur, Illinois, Ice Cream Manufacturing Plant
03/23/2023
ENTEK Plans Terre Haute, Indiana, ‘Wet-Process’ Lithium-ion Battery Plant
03/23/2023
Most Read
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
19th Annual Consultants Survey: Clients Challenged by Tight Labor Market, Energy Availability
Q1 2023
-
The Top Investment Location Prospects for Aerospace Manufacturing
Q1 2023
-
2022 Top States for Doing Business Provide an Environment for Business Growth
Q3 2022
-
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Q1 2022
-
How Are Economic Developers Partnering to Solve Workforce Challenges?
Q1 2023
-
Strategies to Overcome Intensifying Industrial Real Estate Challenges
Q1 2023