Vitalize Consulting Solutions, Inc. (VCS) Double Play!
We are pleased to announce the “recapitalization” of Vitalize Consulting Solutions, Inc.
(“VCS”) and the simultaneous acquisition of Lucida Staffing Group, LLC. d.b.a.Lucida Healthcare
IT (“Lucida”). This transaction was effective December 21, 2007.
Vitalize is now backed by SV Life Sciences (www.svlifesciences.com),
Ferrer Freeman and Company (www.ffandco.com) and Bank of
America.
This transaction provides VCS with access to growth capital which will enable the company to
continue to successfully compete in a Healthcare IT consulting marketplace increasingly dominated
by very large firms.
Acquiring Lucida adds three important ingredients to VCS’ future …
- Seasoned leadership, with proven track records, to compliment the skills and experiences
of the Vitalize founders;
- A professional workforce of consultants and established clientele; and
- Deep resources for the sourcing, recruitment and successful placement of healthcare IT
professionals
Bruce Cerullo, majority owner and Chairman of Lucida will assume the position of Chairman and
CEO of Vitalize. And, Karla Mount, CFO and Eric Egnet, CIO of Lucida will assume the same
positions with Vitalize.
Prior to Lucida, Cerullo, Mount and Egnet were key members of a team that grew TravCorps
Corporation, a healthcare staffing company, from a $30 million dollars to $120 Million in 4
years. In December of 1999, TravCorps and Cross Country Staffing merged forming Cross Country
Healthcare (NASDAQ: CCRN) which is now a $500 million dollar company and one of the nation’s
largest quality providers of healthcare staff augmentation and consulting services.
Mary Pat Fralick, former principal and newly appointed COO of VCS said: “We are entering an
amazing time for VCS. I am truly excited about this recapitalization and our acquisition of
Lucida. Finding a company with compatible vision and beliefs in addition to strong leadership
was as critical to us as finding a partner who believes in the importance of an employee-centric
culture.” John Smaling, former principal and newly appointed Executive Vice President of
Strategic Business Development adds that “the new management structure will further streamline
processes to ensure great service to our employees and the highest quality delivery to our
customers”. He added: "This clears the way for the future of Vitalize Consulting Solutions, Inc,
which represents an excellent outcome for our business and shareholders, and provides the platform
for growth which we have been seeking."
Danny Arnold, former principal and now current Executive Vice President of Sales and Marketing
said: "We are delighted to have successfully concluded these discussions and acknowledge the
significant contribution Canacord Adams, Inc. has made in bringing all parties together to
determine a positive outcome. We fully endorse it and congratulate the team on the outcome. We
remain enthusiastic about the future of our company."
Bruce Cerullo expressed his admiration for the genuine and team-oriented culture the VCS
principals have created and their well deserved reputation for high quality client service. “We
are excited to partner with Danny, John and Mary Pat and look forward to working together to
build the nation’s premier provider of financially and clinically oriented IT solutions.” Cerullo
said.
Karla Mount, the new CFO of Vitalize, said in a statement “The mix of skills and experience of
the leadership team are very complimentary. I am looking forward to the success and growth this new
relationship will bring us”.
Eric Egnet, the new CIO of Vitalize, stated “I am very excited about the future of the company
in the marketplace. I see a real opportunity for us to better service our customers and offer a
range of new opportunities for our professional consultants”.
The updated Leadership Team of Vitalize is of course available to answer any questions about
the recapitalization or acquisition. Please contact us at our corporate headquarters,
610-444-1233 or via email at vcs@getvitalized.com.