Press Releases
Picis Announces Appointment of Melissa Cruz as CFO
Company continues to expand depth and breadth of executive team in response to rapid growth
WAKEFIELD, Mass. — December 11, 2007 — Picis, the leading provider of high-acuity care information systems, today announced it has appointed Melissa Cruz as its executive vice president and chief financial officer (CFO). At the same time, it announced that R. Scott Lentz, its CFO since 2000, will be assuming new duties as senior vice president of business development, focused on strategic corporate development and business alliances.
Cruz brings to Picis a 20-plus-year track record of building and managing finance and operational organizations in global, high-growth environments, both public and private, for a variety of technology businesses. She was most recently the CFO at BladeLogic, Inc., a publicly traded provider in the data center automation arena. During her tenure there, the company grew at 100 percent annual rates, and she was instrumental in preparing the company's initial public offering (IPO).
Previously, Cruz was executive vice president and CFO at Concord Communications, Inc., a business services management software company that was acquired by Computer Associates in 2005. She also served as director of finance at SeaChange International, Inc., international controller at Wellfleet Communications (later Bay Networks, acquired by Nortel Networks Corporation), and she began her finance career at Digital Equipment Corporation (DEC). In addition to her strong finance background, Cruz has also managed legal, human resources, information technology and investor relations functions in her various positions.
“We are extremely pleased to add a seasoned financial leader with such extensive software company experience to our team,” stated Todd Cozzens, president and CEO of Picis. “Melissa's experience in managing all finance functions in a number of global software companies and at both public and private enterprises will be invaluable to our growth and expansion.”
Lentz will remain with Picis, leading the company's business and corporate development functions. He will be focused on strategic investments and other corporate growth and business development opportunities. During his tenure as CFO, Picis raised nearly $200 million in equity and debt financing, completed three major acquisitions, and grew revenues by over 1500 percent.
"Scott Lentz has been instrumental in building Picis into the leader it is today in the high-acuity space,” continued Cozzens. “We are truly fortunate that he can now focus on applying his deep knowledge of our business and his domain expertise in both the healthcare arena and corporate finance to drive additional opportunities as we move forward.”
Both appointments are effective immediately. For more information on Picis, its solutions and management team, please visit www.picis.com.
About Picis
Picis is an established provider of innovative healthcare information technology solutions designed to transform the delivery of patient care information in the high-acuity areas of the hospital, including the emergency department, operating and recovery rooms and intensive care units. Picis offers the most advanced suite of integrated products focused on these life-critical areas of the hospital where the patients are the most vulnerable, the care process is the most complex and an increasing majority of hospital costs are incurred. Headquartered in Wakefield, Massachusetts, Picis has licensed systems for use in more than 1,300 hospitals in 19 countries. More information is available at www.picis.com.
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