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Governor Lincoln D. Chafee Celebrates Expansion of Small Business in East Providence with Help from RIEDC Financing

On the heels of recent move by Governor Lincoln D. Chafee and the Rhode Island Economic Development Corporation (RIEDC) Board of Directors to provide better access to financing for Rhode Island businesses, the Governor joined RIEDC Executive Director Keith Stokes and company management and employees today in East Providence to celebrate the continued growth of Infusion Resource, LLC. The Rhode Island healthcare company is adding 13 new jobs with the help of a $250,000 loan from the RIEDC's Small Business Loan Fund.

On March 26, 2012, Governor Chafee and the RIEDC Board adopted a focused yet flexible work plan aimed at helping Rhode Island businesses gain better access to capital. The plan establishes a clear, adaptable and measurable set of action steps to improve the state's business climate and accelerate job creation in growth industries. Its aim is to define and evaluate gaps in business financing and know-how resources, strengthen capital programs, like the Small Business Loan Fund, and increase the flow of private investment to Rhode Island businesses.

"I have hosted a number of community business forums recently in cities and towns throughout the state and am looking forward to another one here in East Providence tomorrow. One of the things I hear again and again from small business owners is the need for better access to capital. We now have a plan in place designed to respond to those needs," Governor Chafee said. "Infusion Resource is a valuable part of our small business community. They are a great example of how key investments are helping growing companies to succeed, create jobs for Rhode Islanders and strengthen our cities and towns. "

East Providence-based Infusion Resource is a provider of home infusion therapy, home health services, clinical research and medical supplies and has cared for thousands of patients during its first three years of operations. As part of a planned expansion, the company will use its Small Business Loan Fund financing to hire new employees, purchase equipment and as working capital.

"Infusion Resource is a locally owned and managed company that has experienced tremendous growth as a result of providing unique, innovative and cost effective healthcare services. As a result of the support of local hospitals and physicians, we have rapidly expanded our workforce which has included hiring and training many unemployed Rhode Island residents. The capital used to fund this growth has come from local investors, banks, the Business Development Corporation and the RIEDC. In addition to the jobs we have created, we are a 'buy local' company that supports many area vendors, professionals and charitable foundations."

"Helping businesses in growth industries succeed is a priority for the RIEDC under the leadership of Governor Chafee and our Board of Directors," said Keith Stokes, RIEDC Executive Director. "Infusion Resource is just one example of how providing an expanding small business with access to capital is creating quality jobs in Rhode Island and making the state an attractive place to do business."

About Infusion Resource, LLC Infusion Resource is an industry leader in home healthcare utilizing state-of-the-art technology and advanced clinical programs to safely and cost effectively provide care for patients requiring intravenous medications, nursing services, clinical drug trials and medical supplies. Founded in Rhode Island by experienced healthcare professionals, Infusion Resource has a licensed infusion pharmacy, ambulatory infusion suite, Medicare certified home health agency, and clinical research site. The company has been successful in helping to expedite patient discharge from hospitals, prevent readmissions and avoid emergency room visits resulting in significant cost savings for patients and health insurance plans.

With a relentless focus on quality, innovation and collaboration with healthcare professionals, Infusion Resource will continue to improve clinical outcomes for patients at a reduced cost to payers.

Related links

Department or agency: Office of the Governor

Online: http://www.governor.ri.gov

Release date: 04-09-2012

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