Navigation Links
Comprehensive Care Corporation Announces Profit for First Quarter

TAMPA, Fla., May 22, 2012 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare") (OTC BB: CHCR), a leading behavioral health, substance abuse and psychotropic pharmacy management services provider for managed care companies throughout the U.S., today announced that its revenues for the first quarter of 2012 ending March 31, 2012 totaled $17,890,000.  Net income totaled $80,000 for the quarter.

"We are pleased to announce that CompCare achieved a profit, albeit modest, for its first quarter of 2012.  This was an important goal for CompCare following completion of significant changes in our business structure and the streamlining and automation of key business functions," said Robert Kulbick, the Company's new president. 

"We are especially pleased that our at-risk pharmacy contracts produced $9,597,000 in revenue in the first three months of 2012.  The 19.8 percent increase over the first quarter of last year is attributable primarily to a 9.9 percent increase in members and a contract rate increase, effective Jan. 1, 2012, from our major customer in Puerto Rico for whom CompCare manages the psychotropic drug benefits," Mr. Kulbick explained. "We are also pleased that general and administrative costs decreased in the quarter to $515,000 compared to $1,161,000 in the same period in 2011."

"For the past two years, CompCare's management team has worked hard to improve the foundation of the Company, such that it can support substantial, profit oriented growth.  We now offer services in 46 U.S. states, the District of Columbia, and Puerto Rico, compared to a much smaller number in 2009. We have recently launched the expansion of our drug management program on an at-risk basis to health plans and self insured entities to reduce their drug spend. Plus we have expanded our service provider network to approximately 35,000 providers.  There is still much work to be done.  However, we are proud of our progress and committed to further improving the Company's performance at all levels," Mr. Kulbick said.

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. The Company's recently filed 10-Q is available at For more information, please call 813-288-4808 or visit our website at

Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release, including but not limited to our ability to achieve substantial, profit oriented growth, our ability to further improve the Company's performance at all levels and our ability to expand our drug management program on an at-risk basis 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 and existing business, our ability to expand and manage our provider network,  the profitability, if any, of our recently acquired or previously existing capitated contracts, the costs incurred in seeking new contracts, the loss or termination of any existing contract, increases or variations in cost of care, seasonality, the Company's ability to obtain additional financing, and additional risk factors as discussed in the reports filed by the Company with the Securities and Exchange Commission, which is available on its website at

Investor Contacts:
Paul Knopick
E & E Communications

SOURCE Comprehensive Care Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Siemens Showcases Its Most Comprehensive and Advanced Breast Care Portfolio
2. Clinsys(R) TPS Teams Provide Comprehensive Clinical Development Plans
3. Comprehensive Safety Tests Published on Ruyan(R) Smoking Alternatives
4. Algeta Completes Comprehensive Phase II Clinical Program With Alpharadin for Treating Bone Metastases in Patients With Advanced Prostate Cancer
5. Chemstar Corporation Offers Comprehensive Deep Cleaning Programs to Combat Salmonella, Listeria, and E. coli in Retail Supermarkets
6. Mayo Clinic Proceedings: A Comprehensive Review of Addiction to Prescription Painkillers Among Patients and Physicians
7. ARKRAY, Inc. Long Term Care Division Launches Comprehensive Service Program - Assure(R) Brilliance
8. Doctors Cite Time, Low Reimbursement As Barriers To Providing Comprehensive Diabetes Care, Survey Results Show
9. Greenway Medical Technologies PrimeSuite 2011 Receives CCHIT 2011 Comprehensive Certification
10. Philips Introduces Multi-Modality Breast Workspace to Complement Comprehensive Portfolio of Diagnostic Imaging Solutions for Breast Care
11. Carl Zeiss Chooses AT&T as Global Provider For Comprehensive Communications Services
Post Your Comments:
(Date:6/23/2016)... -- Any dentist who has made an implant supported denture ... of them do not even offer this as a viable ... costs involved. And those who ARE able to offer that ... cost that the majority of today,s patients would not be ... , founder of Dental Evolutions Inc. and inventor of Implanova ...
(Date:6/23/2016)... LOS ANGELES , June 23, 2016 /PRNewswire/ ... (NASDAQ: CAPR ), a biotechnology company ... first-in-class therapeutics, today announced that patient enrollment in ... progrEssion in Duchenne) has exceeded 50% of its ... its enrollment in the third quarter of 2016, ...
(Date:6/23/2016)... BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia ... the company,s second affiliate in Latin America . ... ... Farma Colombia ... ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... ... strategic partnership with Connance, a healthcare industry leader providing predictive analytics to ... technology combine to provide health systems, hospitals and ambulatory surgical centers with ...
(Date:6/26/2016)... Michigan (PRWEB) , ... June 26, 2016 , ... On ... as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in Battle ... honor of the city’s history as home to some of the world’s leading providers ...
(Date:6/26/2016)... , ... June 26, 2016 , ... ... once they have been diagnosed with endometriosis. These women need a treatment plan ... require a comprehensive approach that can help for preservation of fertility and ultimately ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, ... Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms ... Final Cut Pro X . Simply select a ProHand generator and drag it above ...
(Date:6/25/2016)... ... 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the ... to iHire in recognition of their exemplary accomplishments in worksite health promotion. , The ... Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one ...
Breaking Medicine News(10 mins):