Healthcare Solutions

Healthcare Solutions

Location: Duluth, GA
Phone: (800) 419-7191
Website: www.healthcaresolutions.com
Status: Exited in 2015
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Healthcare Solutions, headquartered in Atlanta, Georgia, is a leading health services company delivering network product solutions and managed care services to the workers’ compensation and auto insurance markets. As a procurement provider of pharmacy benefits and specialty products/services, HSI coordinates delivery from its third-party vendor networks to patients. Additionally, the Company offers managed care services including PPO networks, bill review and case management on behalf of customers, which include carriers, third-party administrators, self-insured and governmental entities.

In July 2007, Cypress Care, was combined with Procura Management, under a new holding company called Healthcare Solutions (initially known as Ancillary Healthcare Solutions and subsequently renamed) through a Brazos-led investment in Procura.

Background to the Transaction

Founded by the Datelle family in 2001, Cypress Care had experienced rapid growth since its inception. In 2006, the family began to evaluate strategic alternatives and how best to sustain its rate of growth and profitability as the business achieved critical mass. The family determined they wanted to attract an equity partner that could provide both an experienced healthcare executive to lead the business and partial liquidity to the current shareholders via a recapitalization. Brazos and management partner, David George (formerly President of Advance PCS, a large and successful group health-focused PBM) engaged in dialogue with the Datelle family and mutual interest quickly developed. Attracted by the high growth potential and strong competitive position of the business, Brazos and David completed a recapitalization of Cypress Care in November of 2006, and David was appointed CEO as a part of the transaction. The Datelle family remained involved in the business following the closing of the transaction, and co-founder Hank Datelle continues to serve on the board.