Comprehensive Care Corporation Announces New Medicare Contract with Humana Health Plan of California, Inc.
TAMPA, Fla., Feb. 12, 2013 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare") (OTC BB: CHCR), a leading behavioral health, substance abuse and pharmacy management services provider for managed care companies throughout the U.S. and Puerto Rico, today announced it has signed a contract with Humana Health Plan of California, Inc., a subsidiary of Humana Inc., to provide Medicare covered behavioral health care services in selected counties for Humana's California market.
Humana provides Medicare Advantage Plans, prescription drug plans and supplement insurance plans for Medicare recipients in both Southern and Northern California. Further information is available at: http://www.humana-medicare.com/humana-medicare-plans.asp.
"We are pleased to announce this important new contract with an exceptional health care partner noted for their strong commitment to delivering quality health care," said Robert Landis, Comprehensive Care Corporation Chief Financial Officer.
Humana Inc., headquartered in Louisville, Ky., is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships. More information regarding Humana is available to investors via the Investor Relations page of the company's website at www.humana.com.
Established in 1969, CompCare provides behavioral health, substance abuse and pharmacy management services for managed care companies throughout the United States and Puerto Rico. 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 CompCare's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, the ability of CompCare to maximize its market share with new pharmacy initiatives, the ability of CompCare and its staff to execute its business plan, the ability of CompCare to offer and sell any of its products at a profit, 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 or other products, increases or variations in cost of care, seasonality, CompCare's 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. CompCare assumes no obligation to update or revise any forward-looking statements.
E & E Communications
SOURCE Comprehensive Care Corporation