I was just reading this article in The Herald News about Meditech a medical software company based in Westwood, that is expanding like crazy.
Meditech spokesman Paul Berthiaume boasts in the article that the company has never had a layoff since it opened in 1969. Perhaps more significantly, in the midst of a fierce recession the company is growing. In the past year, the company hired nearly 620 people – increasing its workforce by 20% – and is planning on opening a new location in Freetown.
Writer Michael Holtzman quotes Berthiaume in explaining the reason for the company’s recent growth: “The billions of dollars poured into the American Recovery and Reinvestment Act to stimulate the staggering economy included aggressive investment for electronic medical record keeping.”
Those funds, continued Berthiaume, “created an active marketplace.”
Holtzman explains: “Those hospitals and medical clinics, therefore, that are and have been Meditech’s bread and butter for four decades, have been able to modernize their systems with the federal government’s help.”
As Berthiaume notes in the article, Meditech is not getting the stimulus dollars but its customers are.
This is the kind of story that demonstrates the power of the stimulus program. Its impact is felt not only in the programs and projects directly funded by stimulus that are able to expand, develop and improve but also in the companies and providers (and even the nearby coffee shops) that support those projects and programs.
This is another part of what the Recovery Act is all about.
Tags: biotechnology, investment, job creation, mass gov, mass governor, massachusetts, massachusetts employment, massachusetts hospitals, massachusetts jobs, medical jobs, medical software, medical technology, recovery, recovery act, reinvestment, stimulus, technology
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