Healthcare Solutions/Cypress Care
Healthcare Solutions (formerly Cypress Care) is a pharmacy benefits manager (PBM) focused on managing prescription drug benefits and providing complementary products and services for the workers’ compensation and auto sectors.
Croft & Bender had been working with Healthcare Solutions (formerly Cypress Care) for over two years, having successfully raised capital for the Company in 2004 as well as investing in the Company through C&B Capital. In 2006, Croft & Bender was hired to conduct a full process to recapitalize the Company, allowing shareholders and investors to liquidate a portion of their holdings enabling the current CEO to transition out of the business.
Croft & Bender successfully negotiated the recapitalization of the Company to Brazos Private Equity Partners. The original shareholders and investors, including Lovett Miller and C&B Capital, realized a significant return on their investment and remain shareholders in the Company with Brazos and a new CEO who brings tremendous industry experience.