Economic incentives help bring medical management tech company to Cedar Park
ABEO Solutions, Inc.-Crystal Practice Management medical software company owned by Cedar Park residents, bringing 41 jobs
ABEO-Crystal Practice Management, an area medical software company, will move its headquarters to Cedar Park, bringing 41 jobs to the Cedar Park economy. At its regular scheduled meeting on August 22, 2019, the Cedar Park City Council voted to authorize a performance-based economic development incentive agreement between the Cedar Park Development (Type A) Corporation and ABEO Solutions, Inc. which owns Crystal Practice Management.
ABEO is owned by Cedar Park residents and brothers Paul and Mark Crowley, along with John Knaus. The company started close to 20 years ago but has experienced major growth over the past 10 years. ABEO provides software under the Crystal Practice Management name. The software helps with customer records, e-prescriptions, inventory, machine integration, online forms, billing, and scheduling - among other uses. This software helps doctors offices save approximately $30,000 annually.
The economic development project entails ABEO-Crystal Practice Management relocating its headquarters for a medical software company from Austin to a 9,500 square foot building located at 12112 Anderson Mill Road in Cedar Park. The company’s capital investment in Cedar Park will total more than $2 million, including $1.5 million in building and real property and $500,000 in FFE (furniture, fixtures and equipment). In turn, ABEO-Crystal Practice Management will receive an incentive investment of $51,600 ($1,259 per job).
“The great thing about this project is that the payback period is point-nine years,” Cedar Park Director of Economic Development Ben White said.
Economic development incentives provided by the Cedar Park Economic Development (Type A) Corporation are funded by ¾ cent of local sales tax from shopping and dining within the city limits of Cedar Park.
ABEO Co-owner and Development Manager Paul Crowley said many of ABEO’s existing employees already live in Cedar Park, adding, “I’ve been a resident of Cedar Park for ten years and my brother has lived here even longer. I live in Red Oaks and my brother lives in Twin Creeks. We’re extremely excited to move the company closer to home. It will mean more time with family and less time on the road.”