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Thursday, September 1, 2016
No: today’s title is not some not-so subtle reminder that it’s time for me, or any of you, dear readers, to take your meds.
Instead, Time My Meds is a “medication synchronization solution” developed by Ateb Inc., headquartered out of Raleigh.
That headquarters, located at 11125 Forest Pines Drive in far north Raleigh, was first built by Ateb in December 2013; the certificate of occupancy was issued in August of the following year.
Full disclosure: today’s post was the result of my receiving an email from “PR Newswire” about this recent HQ expansion. It’s not often smaller projects like this are considered important enough that the owner is willing to put a press release about it, so I figured, good enough for PR Newswire, good enough for The Development Beat.
Incidentally, Ateb purchased the property only a month before construction began for $1.6 million. The total property value is now assessed at $6.2 million. Based on the permits issued for work at the site, Ateb spent a total of $3.8 million constructing the headquarters. Certainly a good investment on their part.
In a press release issued in July of last year, Ateb noted the following about its Raleigh HQ:
Ateb, Inc., the industry’s leading provider of pharmacy based patient care solutions, built its new North American headquarters in Raleigh, retaining almost 150 jobs in the capital city, and thereby reaffirming its commitment to the community.
Ateb recently constructed a 37,500 square foot office building, located at 11125 Forest Pines Drive, which created more employment opportunities within the local community and generated an additional 25 percent growth in the company’s overall head count. This expansion is also a result of the company’s $3 million infrastructure investment to strengthen its intuitive technology solutions. Later this year, the company plans to almost double its existing footprint, to approximately 65,000 square feet.
Indeed, the most recent permits issued at the site were in November 2015, and indicated an expansion of 27,271 square feet, which would nearly double the size of the facility.
From their more recent press release, which came out over the weekend:
Generating an additional 25 percent growth in the company’s overall head count in the capital city, Ateb expanded its headquarters to a 65,500 square foot office building, almost double its existing footprint. Located at 11125 Forest Pines Drive, the construction also stimulated more employment opportunities within the local community.
The expansion correlates with Ateb’s recent achievement as the leading provider of medication synchronization to chain and independent pharmacies with over 1,000,000 pharmacy patients actively managed in Ateb’s Time My Meds®, medication synchronization solution. Patients receive all of their chronic medications on their monthly pharmacy visit, allowing the pharmacist and patient to actively engage.
Frank Sheppard, one of the founders and the current CEO of Ateb, was quoted in the release as having this to say about the recent expansion:
“The building expansion reflects our success, as well as our commitment to improving the local economic landscape. With ninety-two percent of Americans residing within five miles of a community pharmacy, we recognized a tremendous opportunity to improve health care delivery by capitalizing on community pharmacy as a health care destination,” stated Sheppard.
“We strongly believe that reducing health care costs through improved pharmacy engagement is the answer to realizing true savings in the new health care ecosystem.”
Note: If you Google any of the italicized or quoted text above, I guarantee it’ll pop up in a few other articles; some might even try to pretend like that quote from Sheppard was something they got from a personal interview.
Plus, those other articles likely wouldn’t include any of my brilliant research, such as the purchase cost of the property and that old press release from 2015. I spent a significant amount of time, almost five whole minutes, digging that stuff up.
Anyway, we’re glad to see a local company expanding both their staff and their facilities, and think the Time My Meds product idea sounds pretty genius, which hopefully means continued success and even greater expansion for Ateb, a name that means “Solution” in Welsh.