Category: Investment, Biotech, Technology
Healthcare Stock To Watch: Comprehensive Care (OTCBB: CHCR)
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News about: Comprehensive Care Corporation (OTCBB:CHCR)
New York, NY - July 27, 2012 (Investorideas.com newswire) - Healthcare stock spotlight at Investorideas.com: InvestorIdeas.com, a global investor research portal for independent investors, releases a company snapshot for microcap Healthcare Stock, Comprehensive Care Corporation (OTCBB: CHCR). The small OTC Company recently made headlines reporting that Florida Trend magazine has ranked CompCare one of the top three big movers among publicly-traded companies in Florida.
Yesterday’s trading saw the Company trade up over 6%. The 52 week range is $ 0.10 - 0.30. The stock has just fewer than 60 Million shares outstanding and a float of just over 15 Million shares.
What the analysts say:
Research from SmallCaps.Us and Breakdown and Highlights on CHCR
"Comprehensive Care Corporation (CompCare) provides managed care services in the behavioral health, substance abuse, and psychotropic pharmacy management fields to Medicare, Medicaid, Children's Health Insurance Programs and other commercial health plans.
Regional health plans, which typically don't have their own behavioral health network, will often contract with a Managed Behavioral Healthcare Organization (MBHO) like CompCare, to obtain access to behavioral healthcare professionals, claims processing, case management, better-integrated behavioral healthcare, and psychotropic pharmacy management services.
Although Comprehensive Care was established in 1969, its attractiveness today is an in-progress turnaround that started in 2009 when the current management team took a controlling position in the Company.
The first thing the new management did was get rid of money-loosing contracts. As a result, revenues dropped from over $35 million in 2008 to approximately $14 million in 2009. Next, management members invested approximately $20 to restructure the Company.
They revamped the IT infrastructure and transitioned the Company from processing claims manually, to processing them electronically at a much lower cost. They streamlined operations and expanded their service provider network from 10,000 healthcare participants in 25 states to 35,000 healthcare participants in 46 states, Puerto Rico and theDistrict of Columbia.
All these efforts beared fruit, as revenues quintupled to $71 million in fiscal year 2011, up from $14 million in 2009.
In 2012, the Company is focusing on digesting all its revenue growth and returning to profitability. So far it has been very successful in doing so. In the first quarter of 2012, earnings almost doubled to $80,000, compared with $41,000 in the same period last year. And for the second quarter, which ended a few days ago, the management expects to be profitable whereas it posted a loss of almost $4 million in the second quarter of 2011.
Moreover, because the behavioral healthcare services industry is very price competitive, the Company sought and found a way to get into the higher margin commercial pharmaceuticals delivery market. CompCare contracts with PBMs to obtain the lowest possible prices for both branded and generic drugs, which results in significant cost savings for CompCare's clients." Source and Opinion of: * http://www.smallcaps.us
About CompCare (OTCBB: CHCR) 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.
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