TAMPA, Fla., Aug. 20, 2012 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare" or the "Company") (OTC BB: CHCR), which provides behavioral health, substance abuse and psychotropic pharmacy management services, is pleased to announce that it has appointed Jairo A. Estrada, who was instrumental in growing a gardening and yard care company from $7 million to $400 million. Mr. Estrada will advise senior management in implementing a plan designed to increase the Company's revenue and assist in the marketing of its innovative pharmacy cost-containment program.
Clark A. Marcus, Chairman and CEO said, "On behalf of senior management, I would like to express how excited and pleased we are to add Mr. Estrada, a highly regarded senior executive, to the CompCare team. Mr. Estrada's career achievements are nothing short of remarkable. We believe his business acumen and proven capabilities in generating substantial corporate growth will be of great benefit to the Company. I look forward to the Company's continued progression with the help of Mr. Estrada's knowledge and guidance."
Mr. Estrada was named President and Chief Operating officer of Garden Way Inc. in 1984 and subsequently became Chairman and CEO. The Company produced and marketed a wide range of well known outdoor power equipment, including the TROY-BILT® Roto Tiller and the BOLENS® Tractor. He assisted in developing a multi-channel distribution system to increase company revenues.
Mr. Estrada was also instrumental in the acquisition by Garden Way of StairMaster Sports/Medical Products, Inc., a major worldwide designer and manufacturer or therapeutic exercise equipment, and five other businesses, to exponentially increase the company's revenues.
As CEO, Mr. Estrada also guided one of the first U.S. companies to penetrate the Chinese market and sell products in the world's most populous nation. He also serves as Chairman of a manufacturing company servicing the pharmaceutical industry in Puerto Rico.
Mr. Estrada received a Bachelor's Degree in Economics and in Business Administration, and a Master's Degree in Organizational Behavioral Sciences from SUNY at Buffalo, New York. He has served on the Board of Directors of numerous companies, including the leading telecommunications company in Puerto Rico; the Chase Manhattan Bank Board of Directors and its Executive Committee, and Global Crossing.
"In a sector where costs continue to rise, I was intrigued by CompCare's recent pharmaceutical initiative, a service with the potential to significantly reduce costs for corporations, as well as the success Clark Marcus and his team have already accomplished. I am eager to work with CompCare's team and confident that I can contribute to the Company increasing its share of the pharmacy management market and an even greater level of corporate success in its healthcare initiatives," said Mr. Estrada.
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.
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 benefits the Company will realize by retaining Mr. Estrada, 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.
E & E Communications
SOURCE Comprehensive Care Corporation