About Vitalize Consulting Solutions, Inc. (VCS)
We are pleased to announce the “recapitalization” of Vitalize Consulting Solutions, Inc. (“VCS”) and the
simultaneous acquisition of Lucida Staffing Group, LLC. (“Lucida”). This transaction is 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. Mary Part Fralick
will serve as COO, Danny Arnold as EVP of Sales and Marketing and John Smaling will assume the position of EVP of
Strategic Business Development of 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. “I am excited to partner with Danny, John and
Mary Pat and look forward to helping them lead this great firm into the future” 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.