Key Developments: Comprehensive Care Corp (CHCR.OB)
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Latest Key Developments
Comprehensive Care Corporation Signs New Multi-State, Multi-Service Contract With Essence Healthcare
Comprehensive Care Corporation announced that it has signed a new multi-service agreement with Essence Healthcare to provide managed behavioral health and pharmacy management services to the Medicare Advantage population serviced by Essence Healthcare in Missouri, Washington and Illinois. Under the recent agreement, CompCare will provide Essence Healthcare enrollees with integrated behavioral health and a specialized pharmacy management program for psychotropic medications. CompCare's services will commence on January 1, 2012. Full Article
Comprehensive Care Corporation Announces Strategic Partnership With Care Management Technologies
Comprehensive Care Corporation announced a strategic partnership with Care Management Technologies (CMT), Morrisville, North Carolina . CMT, a specialized health information technology company, will provide to CompCare data and analytics support in its effort to better integrate behavioral health, medical and pharmaceutical care for consumers, while also reducing drug distribution and administrative costs. Full Article
Comprehensive Care Corporation Announces Agreement With L.A. Care Health Plan For Managed Behavioral Health Care
Comprehensive Care Corporation announced that an agreement with L.A. Care, the public health plan, to provide managed behavioral health care to more than 31,000 members. Under the agreement, which became effective in January 2011, CompCare is providing managed behavioral health care to members of select L.A. Care programs in Los Angeles County, including Healthy Families, L.A. Care’s Healthy Kids and L.A. Care Health Plan Medicare Advantage HMO SNP. Beyond the traditional utilization management of the behavioral health benefits, CompCare will be providing medical and behavioral health coordination, Intensive Case Management, support and guidance for pharmacy management relative to psychotropic medications, and coordination of care with community resources, primary care and other treatment professionals. Full Article
Comprehensive Care Corporation Issues Q4 2010 Revenue Guidance
Comprehensive Care Corporation announced that for fourth quarter of 2010, it expects revenue to be in the range of $17.5-$18.0 million. Full Article
Comprehensive Care Corporation Announces Resignation Of Chief Financial Officer - Form 8K
Comprehensive Care Corporation reported in its Form 8K that, on January 24, 2011, Giuseppe Crisafi, the Chief Financial Officer of the Company, and a member of the Company's Board of Directors (Board), resigned from his position as the Company's Chief Financial Officer and as a member of the Board (as well as a director, officer and employee of the Company's direct and indirect subsidiaries, divisions and affiliates), effective as of the close of business on such date. The Board has not appointed Mr. Crisafi's successor at this time. Robert J. Landis, the Company's Chief Accounting Officer, will perform the functions of Chief Financial Officer until such time as the Board appoints Mr. Crisafi's successor. Full Article
Comprehensive Care Corporation Announces Appointment Of Chief Executive Officer
Comprehensive Care Corporation announced that John Hill has stepped down from his positions of Co-Chief Executive Officer, President and Director of Comprehensive Care Corporation effective immediately. Clark A. Marcus has been named sole Chief Executive Officer of the Company. Mr. Hill will remain with the Company as a consultant. Full Article
Comprehensive Care Corporation's CompCare de Puerto Rico, Inc. Signs Two Year Contract In Puerto Rico
Comprehensive Care Corporation announced that its wholly-owned subsidiary, CompCare de Puerto Rico, Inc. ("CCPR"), a specialty healthcare company based in San Juan, Puerto Rico, has been awarded a two-year contract from MMM Healthcare, Inc. (MMM) and PMC Medicare Choice, Inc. (PMC), two affiliated Medicare Advantage health plans serving approximately 185,000 members in Puerto Rico. The contract becomes effective on September 18, 2010, boosting CompCare`s total annualized revenues to over $70 million. Under the terms of the contract, CCPR will deliver customized mental health and substance abuse (MHSA) services and pharmacy management services, and other innovative health and wellness programs for Medicare members under MMM and PMC health plans. Full Article
Comprehensive Care Corporation's Subsidiary Acquires 100% Ownership In CompCare de Puerto Rico, Inc
Comprehensive Care Corporation announced that through its wholly owned subsidiary, Comprehensive Behavioral Care, Inc. (CBC), it has acquired the remaining 49% of outstanding shares of common stock that it did not already own in CompCare de Puerto Rico, Inc. (CCPR). CCPR was established in 2008 to develop CompCare`s managed behavioral health care business in Puerto Rico. Prior to this acquisition, CBC owned 51% of CCPR's shares. With the consummation of this transaction, CBC now owns 100% of CCPR, positioning the Company to take full advantage of numerous opportunities in the Puerto Rico market. Following the acquisition, CCPR promoted Remedios Reme Rodriquez to act as its President for Puerto Rico. Prior to her promotion, Ms. Rodriguez was Vice President of Business Development for CompCare. Full Article
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