Comprehensive Care Corporation Names Robert R. Kulbick New President

TAMPA, Fla., Nov. 7, 2011 /PRNewswire/ -- Comprehensive Care Corporation (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 Robert R. Kulbick, former President of ProCare Rx Inc., has been selected as the new President of CompCare.  Mr. Kulbick, a highly regarded leader in the healthcare industry, is a graduate of the United States Military Academy, West Point, and holds an MBA from the University of Scranton.  He will report to the Chairman and Chief Executive Officer Clark A. Marcus.

Mr. Kulbick brings to CompCare over three decades of experience as an entrepreneur and senior executive. Most recently, as President of ProCare Rx, Inc., he reduced drug spend 37% by launching a model that lowered prescription costs for employer groups and health plans via partnerships with Wal-Mart, Kmart, and Target. Prior to this, he served as Chief Marketing Officer of Cypress Care, Inc., where he engineered an explosive growth in revenue from $60 million to more than $250 million. In addition to former roles as President and CEO of RSKCo and Crawford Integrated Services, two of the nation's largest third party administrators, Mr. Kulbick also held senior leadership positions at ACE, AIG, and other national companies.

"I am excited to have Bob as part of our senior executive team and welcome him on behalf of the Company.  We held this position open for over a year making sure that when we selected someone it would be the right 'someone.'  Bob Kulbick is perfect for this job.  With his business acumen and robust track record of growing businesses profitably, Bob has an unparalleled reputation and industry expertise," stated Clark A. Marcus, Chairman and CEO. "Particularly with our ancillary wellness solutions, there is tremendous opportunity to impact our business and the industry as a whole. Bob will be instrumental in supporting our strategic direction and growth."

Bob Kulbick stated, "I am pleased to join CompCare at such an exciting time in the Company's history and look forward to leading it towards even greater success. Working collaboratively with senior management, I believe the Company is well-positioned to capitalize on growth opportunities with its diverse roster of innovative programs that offer value to enrollees, health plan clients and shareholders."

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. For more information, please call 813-288-4808 or visit our website at www.compcare.com.  

Forward-Looking Statements

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 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.

Investor Contacts:
Paul Knopick
E & E Communications
[email protected]
949.707.5365

SOURCE Comprehensive Care Corporation