-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JsyLpgtNnIq/QxZ9XXECxxLWOb5w0CrfFm79nneFCfXJKEBBaczWeIuUIQsEzSUq roVM4krB/Z9Lstk8EhYBFA== 0000950144-03-001405.txt : 20030210 0000950144-03-001405.hdr.sgml : 20030210 20030210110708 ACCESSION NUMBER: 0000950144-03-001405 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030210 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPREHENSIVE CARE CORP CENTRAL INDEX KEY: 0000022872 STANDARD INDUSTRIAL CLASSIFICATION: HOSPITAL & MEDICAL SERVICE PLANS [6324] IRS NUMBER: 952594724 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09927 FILM NUMBER: 03546229 BUSINESS ADDRESS: STREET 1: 200 SOUTH HOOVER BLVD STREET 2: SUITE 200 CITY: TAMPA STATE: FL ZIP: 33609 BUSINESS PHONE: 813-288-4808 MAIL ADDRESS: STREET 1: 200 SOUTH HOOVER BLVD STREET 2: SUITE 200 CITY: TAMPA STATE: FL ZIP: 33609 FORMER COMPANY: FORMER CONFORMED NAME: JADE OIL CO DATE OF NAME CHANGE: 19700402 FORMER COMPANY: FORMER CONFORMED NAME: NEURO PSYCHIATRIC & HEALTH SERVICES INC DATE OF NAME CHANGE: 19700402 FORMER COMPANY: FORMER CONFORMED NAME: NEURO PSYCHIATRIC & HEALTH SERVICES DATE OF NAME CHANGE: 19730501 8-K 1 g80591e8vk.txt COMPREHENSIVE CARE CORPORATION ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT, PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): FEBRUARY 10, 2003 COMPREHENSIVE CARE CORPORATION (Exact Name of Registrant as Specified in Charter) DELAWARE 1-9927 95-2594724 (State or Other Jurisdiction (Commission File Number) (I.R.S. Employer of Incorporation) Identification No.)
200 SOUTH HOOVER BOULEVARD BUILDING 219, SUITE 200 TAMPA, FLORIDA 33609 - ------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (813) 288-4808 N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) ================================================================================ ITEM 5. OTHER EVENTS. On February 10, 2003, Comprehensive Care Corporation announced that its Central U.S. Service Center, located in Bloomfield Hills, Michigan, was recently awarded new business by two Indiana health plans to manage their behavioral health benefits to approximately 55,000 members and, also, has contracted with one health plan to conduct a specialized Disease State Management project for 17,000 members throughout Indiana. Collectively, the new Indiana business represents approximately 72,000 covered individuals and $1.7 million in new annual revenue to the Company. Additionally, the Company reported recent new contracts with two Michigan health plans that have a current annual run rate of $2.7 million and cover an additional 156,000 lives. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (C) EXHIBITS.
Exhibit No. Description ----------- ----------- 99.1 February 10, 2003 Press Release relating to new business contracts in Indiana.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. COMPREHENSIVE CARE CORPORATION By: /s/ ROBERT J. LANDIS --------------------------------------------- Name: Robert J. Landis Title: Chairman of the Board, Chief Financial Officer, and Treasurer Date: February 10, 2003 2 EX-99.1 3 g80591exv99w1.txt FEBRUARY 10, 2003 PRESS RELEASE [ELITE FINANCIAL COMMUNICATIONS GROUP LETTERHEAD] EXHIBIT 99.1 FOR IMMEDIATE RELEASE COMPREHENSIVE CARE CORPORATION ACCELERATES GROWTH WITH NEW CONTRACT WINS IN CENTRAL U.S. REGION CUSTOMIZED HEALTH PLANS SERVING 228,000 LIVES IN INDIANA AND MICHIGAN TAMPA, FL - (PR NEWSWIRE) - FEBRUARY 10, 2003 - Comprehensive Care Corporation (OTCBB:CHCR) (CompCare), a company specializing in managed behavioral healthcare and employee assistance services through its operating subsidiaries, today announced that its Central U.S. Service Center, located in Bloomfield Hills, Michigan, was recently awarded new business by two Indiana health plans to manage their behavioral health benefits for approximately 55,000 members. In addition, one health plan has contracted with CompCare to conduct a specialized Disease State Management project for 17,000 members throughout Indiana. Collectively, this new business represents approximately 72,000 covered individuals and $1.7 million in new annual revenue to CompCare. Mary Jane Johnson, Chief Executive Officer of CompCare, stated, "In light of CompCare's strategic expansion objectives, we are especially pleased by our Central region's success in establishing a foothold in Indiana. The wins in Indiana follow managed care projects awarded to CompCare by two Michigan health plans within the last nine months. The new Michigan contracts have a current run rate of approximately $2.7 million in annual revenue, and afford CompCare the opportunity to develop and customize managed behavioral healthcare programs for an additional 156,000 lives. Our Central U.S. Service Center manages diverse programs spanning commercial and Medicaid insurers, a local program for the management of compulsive gamblers, gate keeping of residential substance abuse programs for the Department of Corrections and care management for one of the largest substance abuse coordinating agencies in Michigan." "We believe that the exciting growth we are experiencing in this area of the Country is a direct reflection of our Central Service Center's commitment to excellence and detailed customer focus. We applaud their efforts and look forward to modeling their success in our other regional markets," concluded Johnson. ABOUT COMPREHENSIVE CARE CORPORATION Established in 1969, Comprehensive Care Corporation administers and operates behavioral health, substance abuse, and employee assistance programs for governmental agencies and managed care companies throughout the United States. Headquartered in Tampa, Florida, CompCare operates regional service and operations centers in Connecticut, Florida, Michigan, and Texas; serves more than 1,100,000 covered individuals nationwide; and has a network of approximately 5,600 behavioral health practitioners. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain information included herein and in other Company reports, SEC filings, statements, and presentations is forward looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning the Company's anticipated operating results, financial resources, increases in revenues, increased profitability, interest expense, growth and expansion, and the ability to obtain new behavioral healthcare contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other Company reports, SEC filings, statements, and presentations. These risks and uncertainties include local, regional, and national economic and political conditions, the effect of governmental regulation, the competitive environment in which the Company operates, and the other risks detailed from time to time in the Company's SEC reports. FOR MORE INFORMATION, PLEASE CONTACT Stephanie Noiseux, Elite Financial Communications Group 407-585-1080 or via email at steph@efcg.net -----END PRIVACY-ENHANCED MESSAGE-----