TAMPA, Fla., March 13, 2012
/PRNewswire/-- Comprehensive Care Corporation (OTCBB:
CHCR), a leading behavioral health, substance abuse and
psychotropic pharmacy management services provider for managed care
companies throughout the U.S., is pleased to announce that it
recently celebrated its 43rd anniversary as a Company. "We
are extremely proud of this accomplishment and believe that the
Company is uniquely positioned for yet another growth spurt, driven
by its strong board of directors; top level management team and a
newly designed wellness program aimed at providing quality
healthcare at affordable cost. In addition, as a response to the
spiraling costs of healthcare, and prescription drugs in
particular, the Company has recently introduced an
innovative, 'at-risk' pharmacy management program designed to
provide our clients with a fixed cost for prescription drugs – a
program relatively unheard of in the healthcare industry," said
Clark A. Marcus, Chairman and
CEO.
Under the direction of Clark A.
Marcus, the Company has expanded its healthcare profile to
more completely encompass "wellness" and at-risk pharmacy as
priority products and a growing source of revenue. The
Company has developed an outstanding specialty behavioral health
provider network, nationwide; increased the number of states served
by CompCare from 11 to 42; increased the number of patient members
covered under the Company's programs to approximately one million;
and, increased the top-line revenue stream from approximately
$14 million in contracted revenue in
January 2010 to over $70 million through December 2011. The
Company has also increased its provider population from
approximately 10,000 to 35,000. All of this having been
accomplished in under a three-year period positions the Company for
even further growth during the next three-year period.
About CompCare:
Established in 1969, CompCare provides behavioral health,
substance abuse and psychotropic pharmacy management services for
managed care companies throughout the
United States. Headquartered in Tampa, Florida, CompCare focuses on
personalized attention, flexibility, a commitment to high-quality
services and innovative approaches to behavioral health that
address both the specific needs of clients and changing healthcare
industry demands. For more information, please call
813-288-4808 or visit our website at www.compcare.com.
Forward-Looking Statements
Except for statements of historical fact, the matters
discussed in this press release are forward looking and made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
reflect numerous assumptions and involve a variety of risks and
uncertainties, many of which are beyond our control that may cause
actual results to differ materially from stated expectations. These
risk factors include, among others, our ability to execute our
business plan, our ability to offer and sell any of our
products at a profit, the expected growth in our business and that
of our customers, changes in local, regional, and national economic
and political conditions, the effect of governmental regulation,
competitive market conditions, varying trends in member
utilization, our ability to manage healthcare operating expenses,
our ability to achieve expected results from new business, the
profitability, if any, of our capitated contracts, subsidiaries, or
other products, increases or variations in cost of care,
seasonality, our ability to obtain additional financing, increased
outsourcing of behavioral health services, and additional risk
factors as discussed in the reports filed by the company with the
Securities and Exchange Commission, which are available on its
website at www.sec.gov. Any forward- looking statement in this
release speaks only as of the date on which it is made. We assume
no obligation to update or revise any forward-looking
statements.
Investor Contacts:
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
949.707.5365
SOURCE Comprehensive Care Corporation