Business

IRBs for Pulse Systems expansion approved

A software development firm founded in Wichita is staying put after the City Council on Tuesday unanimously approved a $6 million industrial revenue bond issue to help the firm expand.

Alif and Basil Hourani, the founders of Pulse Systems, located at 3017 N. Cypress, will use part of the bond proceeds to buy the former Feist headquarters at 3020 N. Cypress, leasing half the building’s 23,000 square feet to Pulse.

The remainder of the old Feist building is leased to the University of Phoenix.

Pulse is a medical practice software development company founded in Wichita in 1997. The Hourainis sold the company in 2010 to Cegedim, a publicly traded French health care company, and operate the firm for its new owners.

Tuesday’s vote means that Pulse and its 75 employees will remain in Wichita rather than move to the parent company’s headquarters in Bedminster, N.J., said Allen Bell, the city’s urban development director. Pulse also received a 100 percent five-year tax exemption on bond-financed property, with a second five-year exemption subject to council review.

“There’s been pressure on the company to relocate to the northeast to co-locate with its parent,” Bell said. “Local management is anxious to remain here, so they approached the city and state for incentives through the Greater Wichita Economic Development Coalition to make the case to remain to the parent company.”

Bell said that Pulse officials think the expansion will create an additional 36 jobs in Wichita, at the company’s average annual salary of $60,000.

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