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CompCare Announces New Agreement with Molina Healthcare of Missouri

^{Published on 2011-03-01 19:41:09 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--Comprehensive Care Corporation ("CompCare" or the "Company") (OTCBB: CHCR)has added approximately 78,000 new members under an agreement with Molina Healthcare of Missouri. The members are part of the Missouria™s Medicaid and Childrena™s Health Insurance Programs (CHIP).

CompCare is providing the participating members with both CompCarea™s standard behavioral products as well as its highly-specialized Peri-Natal Program. This unique new program is an early-warning, preventative-in-nature program designed to help identify and manage behavioral health disorders earlier than would otherwise be possible through services historically provided in the industry. The Peri-Natal Program is a collaborative program in which the membera™s health plan identifies pregnancy cases and then refers those members to CompCare for evaluation of depressive symptoms, both antepartum and postpartum. CompCarea™s Peri-Natal Program also involves intensive case management for those members who have a co-occurring behavioral diagnosis, such as substance abuse disorder.

Clark A. Marcus, CompCarea™s Chairman and CEO, commented, aOur contract with Molina Healthcare for the State of Missouri provides us with a unique opportunity to not only expand our managed behavioral health business but to take an important step forward in our Wellness Program which is aimed at identifying behavioral health problems before the member reaches a critical condition requiring more intensive care. In other words, it is a major step forward in preventative healthcare. As part of this Program, we have introduced exciting new preventative care measures that we believe will improve our membersa™ behavioral health through enhanced early-warning screening methods. Molina Healthcare of Missouri shares our view that good behavioral health leads to better health in general. We hope to work with Molina Healthcare and our other healthcare plans in identifying other additional opportunities in order to expand this much needed Wellness Program.a

Joanne Volovar, President of Molina Healthcare of Missouri, stated, aWe are excited to expand the behavioral health services provided to our Medicaid and CHIP members in Missouri through our relationship with CompCare. Behavioral health plays a key role in the overall health of individuals. By partnering with CompCare, we are confident that this program will improve the health and wellbeing of our members. It will be exciting to see the benefits of CompCarea™s unique Peri-Natal Program and other preventative care measures. We are excited to have taken this first important step in this long-term project.a

CompCarea™s contract with Molina Healthcare became effective December 1, 2010, with members being enrolled over the subsequent three months.

About Molina Healthcare

Molina Healthcare, Inc. (NYSE: MOH) provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program. Molina's licensed health plans in California, Florida, Michigan, Missouri, New Mexico, Ohio, Texas, Utah, Washington, and Wisconsin currently serve approximately 1.6 million members, and the Company's subsidiary, Molina Medicaid Solutions, provides business processing and information technology administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, and drug rebate administration services in Florida. More information about Molina Healthcare is available at [ www.molinahealthcare.com ].

About CompCare

Established in 1969, CompCare provides behavioral health, substance abuse and employee assistance programs for governmental agencies, managed care companies and employer groups 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 CompCarea™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, the ability of CompCare to achieve significant improvement in preventative healthcare, the ability of CompCare to benefit from expanded business, the likelihood, or not, of expanded business in the future, 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, and CompCarea™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.