Comprehensive Care Corporation Celebrates 43rd Anniversary
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.
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.
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.
E & E Communications
SOURCE Comprehensive Care Corporation