In 2001, Cypress Care entered the workers' compensation industry with a vision of revolutionizing the way pharmacy cost management was addressed through outcome-focused, customer-driven strategies and the functional application of innovative technology.
Today, Cypress Care has expanded its products and services to other markets by applying expertise and best practices, which position us as a thought leader in the workers' compensation and auto insurance industries.
Cypress Care is a fusion of creative ideas and powerful technology; unique culture and traditional ethics; forward-thinking pioneers and industry renowned experts - all focused on a single goal: To help our clients achieve the best financial and clinical outcomes and to help people get back to work and back to life.
History
Lisa Datelle, our founder, realized after years of experience in the workers' compensation industry that pharmacy benefit managers (PBMs), including the one where she was employed, were not addressing the intricacies of workers' compensation and the potential for change that existed. When she shared her belief and vision with her employer, she found deaf ears and discovered a disconcerting attitude. The attempt to implement change for an existing company had failed, but rather than accept this as a roadblock, Ms. Datelle left her job with the vision intact and soon created Cypress Care with her brother, Marc Datelle and her father, Henry “Hank” Datelle - both technology and internet pioneers.
Immediately, they recognized that answers to the workers' compensation PBMs inefficiencies Ms. Datelle identified were correctable through technology. After one year of development and beta testing, Cypress Care unveiled their innovative solution, Sequoia™. Sequoia™ hit the market as a streamlined pharmacy management system created for mass customization, allowing companies to tailor their workers' compensation programs to exact criteria. The software also enabled companies to proactively manage, track, and monitor pharmacy records, formularies, and the savings realized through Cypress Care’s pharmacy and ancillary health services. Sequoia™ eliminated unnecessary paper bills, lightened the workload of adjusters, prevented fraud, and maximized network penetration. It accomplished all of these things without any cost or additional resources on the part of the client. Sequoia™ was truly a revolution of thought and action that has now become the foundation of Cypress Care’s products and services.
In late 2006, Cypress Care’s Executive Team entered into a relationship with a financial partner to help fuel the company’s growth and enable expansion upon the existing suite of products and services. Cypress Care chose Brazos Private Equity Partners, LLC. Brazos is a Dallas-based private investment firm which specializes in the recapitalization of middle market companies that offer excellent potential for substantial and sustained growth. In partnering with Brazos, Cypress Care welcomed David A. George, former president of AdvancePCS and a seasoned health care executive of more than 25 years, as CEO replacing Hank Datelle, who now serves as a company advisor and board member. Additionally, F. Bartow (Bart) Hester, former Senior Vice President of AdvancePCS, joined as Executive Vice President of Account Management and Strategy. With the addition of these proven leaders and the retention of visionary founding executives and existing staff, Cypress Care is well positioned for continued growth and service expansion.