October 10, 2012
Witherspoon Partners Aquires Majority Stake in Cybergistics, Leader in Healthcare Info Management
Cybergistics expands leadership team and targets expansion
in medical records storage and ICD-10 consulting
PRINCETON, NJ October 9, 2012 - Witherspoon Partners, a Princeton-based investment company, announced that it recently acquired a majority equity position in Cybergistics, LLC, a full-service information management ("HIM") company providing a full suite of document imaging, medical coding and HIM services.
Founded in 2003 by current chief operating officer and industry expert Donna Pizzulli, Cybergistics has a well-established track record of providing intelligent information and transition management solutions to healthcare institutions in the greater New Jersey area. First founded to provide smart medical records storage services, Cybergistics has grown to be a trusted source for outsourced medical coding services and consulting related to the 2014 transition to ICD-10 (the new and compulsory standard which all healthcare institutions will utilize for diagnostic and procedure codes).
"Witherspoon sees Cybergistics as a company uniquely positioned to offer both smart medical records storage services and unparalleled expertise in medical coding and ICD-10 transition," said Keith Danko, Managing Member of Witherspoon Partners. "We are committed to building upon the expert reputation Donna Pizzulli has built for Cybergistics and meeting the continually evolving information needs of healthcare clients."
Pizzulli will continue to manage day-to-day operations for Cybergistics and J.R. Emmanuelli continues as Head of Records Management. Danko, who has more than 25 years of finance and management experience, has assumed the role of Cybergistics CEO. Laudine Markovchick, an experienced coding professional and certified ICD-10 trainer, has assumed the position of Director of Coding Services.
"The imminent transition to ICD-10 poses a very significant challenge to hospitals and physician practices," added Pizzulli. "With the backing of Witherspoon, we are in a better position than ever to provide planning or executional assistance to clients facing this massive coding challenge, or to offer our traditional records storage service which includes digitization for easy record retrieval."
Healthcare finance or information management executives interested to learn more can visit the company's newly relaunched web site: www.cybergistics.com
About Witherspoon Partners
The Witherspoon companies, including Witherspoon Global, LLC, seek to acquire equity stakes in growth-oriented businesses in the NJ/NY/PA region. In addition Witherspoon Consulting Partners provides consulting services to small and medium-sized businesses, and high-net-worth individuals, ranging from finance and marketing advisory to assistance with business structure, operations and legal strategies.