CareSource has formed a business partnership with Exela Technologies that is expected to lead to growth in downtown Dayton, a statement from the Ohio governor’s office says.
Ohio Gov. Mike DeWine will speak at an event Thursday planned at CareSource’s downtown office to welcome Exela Technologies to Dayton.
The number of jobs the company will bring to Dayton was not released.
Exela is a business process automation company. Its software and services are used in the banking, healthcare, insurance, and public sectors. The company’s website says its serves 4,000 customers in 50 countries, including over 60% of the Fortune 100.
CareSource is a managed care organization and primarily makes its money through government insurance programs. Programs like Ohio Medicaid give CareSource money per member per month and in turn CareSource coordinates their health benefits and pays out claims.
The company reported $11.2 billion in gross revenue in 2020, up from $10.6 billion in 2019. CareSource said 9.7% went toward administration, which is up from 8.3% reported the year prior.
The Dayton-based insurer is headquartered in downtown Dayton and employs about 4,500 people total. CareSource has 2 million members in Ohio as well as Georgia, Indiana, Kentucky, and West Virginia, primarily through Medicaid