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Christopher Cynkar

Male 1973 -

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  • Born  24 Feb 1973 
    Gender  Male 
    Person ID  I6958  Johnson Hindin Tree
    Last Modified  4 Jul 2009 

    Family  Jacquelyn Helen ASHCOM,   b. 26 Sep 1976 
     1. Nolan Cynkar
     2. Anderson Cynkar,   b. 30 Nov 2002
    Family ID  F2828  Group Sheet

  • Photos
    Christopher Cynkar and Family
    Christopher Cynkar and Family

  • Notes 
    • According to his profile (2009): Chris graduated from Bishop Mccort High School in 1991. He graduated from the University of Pittsburgh in 1995 with a degree in Business and from Carnegie Mellon University (MSIA) in 1998 with a degree in Entrepenuership. He is President of the Pennsylvania Rehab Group.

      The following article appeared in the August 24, 2007 edition of the Pittsburgh Business Times:

      Private equity investor purchases Pennsylvania Rehab Group

      Private equity investor Chris Cynkar has acquired The Pennsylvania Rehab Group from founder Cliff Milowicki.
      The price for the Castle Shannon-based medical staffing firm was not disclosed.

      Chris Cynkar is president of private equity firm Swisshelm Park Investors LLC, named for the East End neighborhood where it is based, but he bought Pennsylvania Rehab "individually." As president, he will run day-to-day operations.

      The seven-year-old company supplies social workers and physical, occupational and speech therapists to the home health care industry. Cynkar sees it as a burgeoning market and wants to expand the client base beyond Allegheny County, but he must get a grip on the continuing problem of recruitment, which dogged Milowicki almost from the inception. Demand consistently outstrips capability because medical professionals are in short supply.

      "Cliff has set a really solid foundation with great customers and very loyal employees," Cynkar said.

      Although Pennsylvania Rehab posted $1 million-plus sales from 2003 to 2005, its failure to quickly replace a couple of departed employees caused 2006 sales to dip below seven figures, Milowicki said. Pennsylvania Rehab currently employs 20.

      "This is a business based on market demand based on what your roster size is," Milowicki said. "If we had 10 more, we'd set a (company) record."

      Milowicki, a licensed physical therapist, would jump in and handle assignments instead of running the company, concentrating on business development and hiring. For Pennsylvania Rehab to grow, it needed a professional executive at the helm, he decided, and Cynkar brings a business background to the table.

      Cynkar's goal is to add eight employees over the next 12 months. He said an acquisition also is possible, to broaden geographic reach or to add areas of specialization.

      Milowicki will maintain an administrative role for the next three months, helping to smooth the transition. He hasn't decided if he'll stay or look to new opportunities.

      This is the third time Cynkar opted to buy and run a business. He invested in printing company Shenango Valley Quikprint, Hermitage, in 1999 and sold it in 2003, and he acquired medical equipment repair firm Cool Pair Plus, Herminie, Westmoreland County, in 2001 and sold it two years ago. Pennsylvania Rehab, he believes, will not be a quick turnaround. "The demographics of western Pennsylvania, with such a large, aging population, lends itself to a significant increase in medical needs over the next 12 to 15 years," Cynkar said. "Insurers are increasingly looking to use home health care as an alternative to in-patient care. Both of those are really advantageous for this company and show no sign of letting up in the foreseeable future." Swisshelm Park Investors may do deals, but Cynkar can't see personally committing to more individual investments over the next few years. He will return in November to Carnegie Mellon University's Donald H. Jones Center to teach "Entrepreneurship Through Small Business Acquisition," a course he introduced last year for members of the business community. "We get people who are interested in buying companies, selling companies and some interested in the investment side," said Art Boni, center director. "We've even allowed a few students in the MBA program to take Chris' class. He's done very well at showing how to do what he does. It's not something people think of as a route to being an entrepreneur."