Comprehensive Care Corporation Enters into Agreement with Maxim Group LLC as Investment Banker and Financial Advisor
TAMPA, Fla., May 8, 2013 /PRNewswire/ -- Comprehensive Care Corporation (OTCBB: CHCR), a leading behavioral health, substance abuse and pharmacy management provider for employers, Taft-Hartley health and welfare Funds, and managed care companies, today announced that it has entered into an agreement with Maxim Group LLC, a leading investment management firm, to provide strategic corporate investment banking and finance services. Maxim Group LLC will focus on assisting CompCare in its strategies for maximizing shareholder value through the utilization of Maxim Group LLC's investment banking services.
"We are especially pleased to have attracted the attention of Maxim Group LLC to partner with us as our advisor to the investment community. Maxim's expertise and specialization in advising small cap and mid-size organizations will serve as an excellent adjunct to our commercialization of our recently launched Pharmacy Savings Program. We would anticipate that the traction CompCare is receiving to its pharmacy program will translate well to the investment community and that translation will occur, in large part, through the efforts of Maxim Group LLC. We trust that Maxim Group LLC will play a strong role as an advisor in executing our growth strategy to better serve our customers and enhance our shareholder value," said Clark A. Marcus, Chairman and CEO of CompCare.
Maxim Group LLC representatives commented, "We are delighted to partner with CompCare as it pursues the introduction of its Pharmacy Savings Program along with its behavioral health/wellness components. Our goal is to provide assistance to the company in the financial and value creation components of its corporate strategy through our full-service investment banking capabilities. Furthermore, we will also be supporting CompCare in attaining its strategic initiatives and long-term objectives focused on introducing its Pharmacy Savings Program to an ever-increasing market share in the healthcare industry. We look forward to working with CompCare and watching our assistance move them forward to the greatest extent possible."
About Maxim Group LLC:
Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading as well as equity research. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, healthcare, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is registered as a broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit www.maximgrp.com.
About Comprehensive Care Corporation:
Established in 1969, CompCare provides behavioral health, substance abuse and pharmacy management services for employers, Taft-Hartley health and welfare Funds, and 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 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 impact of the Maxim Group's efforts on the translation of CompCare's Pharmacy Savings Program to the investment community, the effect that Maxim Group's services will have on CompCare's execution of its growth strategy and attaining its strategic initiatives and long-term objectives, the ability of CompCare to rapidly introduce its new pharmacy cost saving program to the market and maximize its market share with new pharmacy initiatives, the ability of CompCare's new pharmacy cost-savings program to guarantee a 10% or more reduction in pharmacy costs, the ability of CompCare's pharmacy program to promote greater medication adherence without restricting access to needed medications, the ability of CompCare's pharmacy cost-savings program to revolutionize the pharmacy sector of the healthcare industry, CompCare's ability to provide superior patient care while increasing its business and margins as a result of implementing its pharmacy cost-savings program, the ability to obtain a performance bond on satisfactory terms, 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 pharmacy utilization, our ability to manage healthcare operating expenses, our ability to achieve expected results from new business, the profitability, if any, from capitated pharmacy contracts or other products, increases or variations in cost of care, seasonality, CompCare'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 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