Cypress Care, Inc. receives PBMI 2005 rx benefit innovation award

April 2005

E-mail | Permalink |

Atlanta, GA. – (April 2005) – Cypress Care, Inc. has received the Pharmacy Benefit Management Institute's (PBMI) 2005 Rx Benefit Innovation Award in recognition of its revolutionary approach to workers' comp drug benefit program management.

Since their inception in 2003, The Rx Benefit Innovation Awards annually recognize organizations that have taken action to change behaviors and reduce overall drug costs. The awards were presented on March 31st during PBMI's Tenth Annual Drug Utilization Management Conference, which took place at the Hilton Scottsdale Resort & Villas in Scottsdale, Az.

Cypress Care CEO Hank Datelle said, "Our desire to reinvent the workers' comp pharmacy system to make it smarter and more cost effective has been a remarkable journey that culminates in receiving this prestigious award. We are thrilled to be recognized for our efforts."

Cypress Care took their understanding of workers' compensation pharmacy and developed the first and only dedicated technology system that streamlines the process. They provide their customers with a national pharmacy network and in-depth reporting capabilities as well as one-on-one patient support. Their ability to add straight to their clients' bottom lines using such a sophisticated yet simple approach has raised the standard for the entire industry.

"Cypress Care recognizes the importance of identifying and meeting the special pharmacy benefit needs of the workers' compensation population," said Michael H. Deskin, president of PBMI. "PBMI is pleased to honor Cypress Care with a 2005 Rx Benefit Innovation Award."

About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States with a particular emphasis on technology-enhanced service companies and healthcare firms. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts.  Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information, visit

About Cypress Care
Atlanta-based Cypress Care is a full-service workers' compensation Pharmacy Benefits Manager (PBM) - the first PBM focused exclusively on workers' compensation. With its comprehensive, powerful technology and workers' comp expertise, the company has created a new standard in cost containment and customer service. Cypress Care enables adjusters and risk managers to spend less time on pharmacy claims while reducing overall pharmacy expenditures associated with workers' comp. Their customers include some of the largest private/governmental employers and insurance companies in the United States. For more information, please visit