CareSource deal draws new firm, 100 jobs to Dayton

A growing tech company now has a downtown Dayton office, an Ohio workforce of over 100, and ambitions to scale locally, thanks to a growing business relationship with its client Dayton-based CareSource.

CareSource, which is headquartered downtown, said it worked with the vendor Exela Technologies to locate its project team in Dayton.

Exela officials said there is the potential for “hundreds more” jobs and the announcement was celebrated by Gov. Mike DeWine, who came to Dayton Thursday to congratulate the companies with a proclamation.

Exela automates business processes. As a vendor for CareSource, Exela’s platform helps with payment timeliness and accuracy, and engagement with health care providers and its 2 million members.

DeWine said the company has a footprint here now and he expects Exela to bring in additional jobs.

“This is a big win for Ohio, this is a big win for Dayton,” DeWine said.

The tech company already has big footprint, with more than 4,000 customers, including Cleveland Clinic.

Exela’s president Suresh Yannamani said they opened their Dayton location late over last year and early this year, in the Stratacache Tower (formerly known as Kettering Tower). He said employees are now working remotely but the goal is to eventually return to the office.

He said the types of jobs they are hiring for vary, but include data processing and data intake jobs.

“We were pleased to be part of an event to announce our new partnership and we look forward to working closer with CareSource, the city of Dayton and the State of Ohio over the next few years” said Yannamani.

Erhardt Preitauer, president and CEO CareSource, said the conversation with Exela and Yannamani started a few years ago when the insurer realized they were doing some technology work outside of the state.

“We started a productive conversation with Suresh and the Excela team around how amazing Dayton was, the business environment that our governor has helped to create, great infrastructure, cost of living, the quality of life, and fast forward, we’re now excited to announce a partnership where Exela is bringing that work here to Dayton,” he said.

Preitauer said it is important that Exela is also bringing the ability to train and cultivate a new workforce.

The announcement comes months after CareSource secured the contract that is its primary source of business: managing insurance plans for Ohio Medicaid members.

While bidding for the contract, CareSource commissioned a study looking at its economic impact and found that in 2019, along with its nearly 3,000 direct jobs, the insurer was responsible for 317 indirect jobs, like vendors and members of its supply chain.

In 2019, CareSource reported in its annual statement that it had $10.6 billion in revenue and an $82.1 million operating profit margin.

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