A newly formed company that combines several senior health care operators is building a new headquarters in the Bare Hills Business Park in Mt. Washington that is expected to bring 125 jobs to Baltimore County.
The $440 million company, Compass Pointe Healthcare, is affiliated with Capital Funding Group and was formed out of a number of acquisitions over the past two years. Two Baltimore-area health care systems were included in those acquisitions: Columbia-based Encore Healthcare and Perennial Healthcare in Hunt Valley.
Also key to the formation of Compass Pointe was the acquisition of Indianapolis-based Addit LLC, which operated health care facilities in the Midwest. Addit’s offices in Indianapolis were closed and some of its employees relocated to Baltimore County, where Compass Pointe is operating in a cramped office with 61 employees.
Anna-Maria Palmer, Compass Pointe’s senior vice president of human resources, said the company is moving to Baltimore because of the health care talent in the region.
The 43,568-square-foot headquarters will be a four-story building with two levels of parking on the first- and second- floor, and offices on the third and fourth floors. A groundbreaking ceremony is scheduled for June 18.
Brian Reynolds, the chairman of the company, said Capital Funding was familiar with the area because the company owns Bare Hills Racquet and Fitness Club near the site of the new building. Capital Funding is located at 1422 Clarkview Road, which is adjacent to the new Compass Pointe headquarters.
The new building will accommodate human resources, corporate administration, accounting, legal, information technology and other support services for the 70 health care facilities the company owns in 17 states. Most of the facilities are skilled nursing communities.
The building is being constructed by F.M. Harvey Construction Co. of Hunt Valley on the site of a former industrial building and is expected to be completed in late spring 2015.