Medical device innovator PainTEQ, one of the fastest-growing private companies in the U.S., has opened its new Tampa headquarters and already foresees a need for larger space as it ramps up hiring.
PainTEQ, founded in 2013 in Tampa, on Wednesday announced the opening of its new HQ at 1511 North Westshore Blvd. in the Tower Place building. The company previously occupied space in downtown Tampa's Rivergate Tower.
"We are based in Tampa and want to stay here. We have found over the years, Tampa continues to support entrepreneurs like ourselves. There's a big pool of talent," CEO Sean LaNeve said. "A lot of our success depends on the thriving health care ecosystem in Tampa including world-class facilities like Tampa General Hospital."
PainTEQ's main consumers are ambulatory centers, as the company's products are for reducing and eliminating sacroiliac joint dysfunction.
The company has roughly 30 employees and plans to add 25 to 30 employees over the next year. Positions include those in logistics, information technology support, finance, marketing, accounting, operations, human resources and direct sales.
The company will occupy the new 3,000-square-foot executive office for the time being until it finds a bigger and more permanent location, LaNeve said. The company is working with Highwoods Properties Inc. (NYSE: HIW) on future office locations.
Regardless of where PainTEQ will find a permanent home, LaNeve and his team want to maintain what they describe as a "Silicon Valley" culture, creating a collaborative and balanced workspace. The office has a putting green, a PlayStation gaming area, a fully stocked kitchen and a wellness program for employees.
"Anyone who has dreamed of owning a business sees these Silicon Valley businesses with pinball machines, pool tables — in reality you have neighbors. We settled things on things like the putting green that wouldn't be loud," he said. "It was also important to us to have a wellness program for employees and healthy meal program. We want employees to be able to have a [work-healthy life] balance."
Additionally, PainTEQ added another 1,200 square feet with its distribution center in North Tampa, at 13719 North Nebraska Ave. The company is evaluating if it will absorb the distribution operations in a future larger office space or seek a separate bigger space dedicated to distribution and logistics.