TAMPA, Fla., Dec. 16, 2013 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare" or the "Company") (OTC BB: CHCR), a leading behavioral health, substance abuse and pharmacy management provider for employers, Taft-Hartley health and welfare Funds, managed care companies, third party administrators, and union–sponsored benefit plans today announced that CompCare appointed Mr. Kyle Chastain to serve as Acting Chief Financial Officer (CFO) to fill the vacancy created with the departure of the Company's former CFO. The appointment is effective December 16.
Mr. Chastain has an extensive financial and business management career. His passion is helping companies become more efficient and profitable with a unique ability to look at all critical business measures and processes to identify business improvements. Mr. Chastain has served as Director of Finance, Regional Controller or Business Process Consultant for several publicly traded companies, including International Paper; Siemens Westinghouse; Illinois Tool Works; Mosaic; and Schwarz Partners. He has his CPA and CMA (certified management account) designations, an MBA in Finance as well as ten other Information Technology certifications.
"It is with great pleasure and pride that we welcome Kyle to CompCare's executive management team," stated Ramon Martinez, Acting President of CompCare. Ramon added, "We have a proud heritage of service to the healthcare industry, and we welcome bright, insightful and industrious people who are willing to help us improve that service. Kyle is well equipped with the knowledge, expertise and energy needed to immediately hit the ground sprinting to help CompCare succeed. He will be instrumental in supporting our strategic direction and growth. Moreover, Kyle will be particularly helpful with the launch of our new pharmacy program in 2014."
Kyle Chastain stated, "I am excited to join CompCare and very much look forward to collaborating with senior management to continue CompCare's advancement and success. With its innovative pharmacy program as well as its diverse portfolio of behavioral programs, I believe the Company is well-positioned to capitalize on growth opportunities that offer tremendous value not only to its clients and their members, but to its shareholders."
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 ability of CompCare to maximize its market share with new pharmacy initiatives, the ability of CompCare's new pharmacy cost-savings program to guarantee a reduction in pharmacy costs, the ability of CompCare's pharmacy cost-savings program to revolutionize the pharmacy sector of the healthcare industry, CompCare's ability to increase its business and margins as a result of implementing its pharmacy cost-savings program, CompCare's 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