CompCare Wins New Contract to Provide Behavorial Health Services
Posted on: Tuesday, 20 May 2008, 09:01 CDT
Comprehensive Care Corporation (OTCBB:CHCR) (CompCare) today announced it has been selected to manage behavioral health services for Care1st Health Plan's Medicare and Healthy Families members, as part of a new contract award that will eventually cover approximately 20,000 lives in Southern California.
"As a result of this contract award, we have added an important new health plan to our client roster to expand and solidify our presence in California," said John Hill, CompCare's recently appointed president and chief executive officer. "We believe our expertise in working with Medicare and Healthy Families populations was instrumental in our selection."
About Comprehensive Care Corporation
Established in 1969, CompCare provides behavioral health, substance abuse, and employee assistance programs for governmental agencies, managed care companies and employer groups 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.
About Care1st Health Plan
Care1st Health Plan provides comprehensive health care services for Medicare, Medi-Cal (Medicaid), and Healthy Families members in Southern California. Care1st Health Plan is a California corporation with its principal offices in Monterey Park, California.
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 the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, 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 of our capitated contracts, cost of care, seasonality, the Company's ability to obtain additional financing, and additional risks factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its web site at www.sec.gov.
Source: Business Wire
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