Comprehensive Care Corp. Files For Argentina Contract.TAMPA, Fla.--(BW HealthWire)--Jan. 8, 1999-- Five Year Contract to be Awarded to Winning Bidders is Valued at Approximately $1 Billion Per Year Comprehensive Care Corp. (NYSE NYSE See: New York Stock Exchange :CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ) announced Friday its participation in an Argentine joint venture to provide managed healthcare through the formation of Vida Salud S.A., a newly formed Argentinean corporation. The joint venture corporation has submitted a bid in response to an Argentinean government request for proposal to provide medical services covering approximately 4 million Argentinean senior citizens. Comprehensive Care Corp. holds a 60% controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Vida Salud. A five-year contract, expected to be awarded by the Argentine government in the next two weeks, is projected to generate approximately $1 billion in annual revenues to be divided between winning bidders. The company is hopeful, though no assurance can be given, that it will be one of the successful bidders. The specific terms and conditions of its bid were not formally disclosed by the company. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chriss Street, chairman of Comprehensive Care: "Based on the success CompCare has enjoyed in its Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. operations during the past year, confidence is high that we are properly positioned to be a very competitive bidder for the Argentinean contract. CompCare is currently developing the necessary infrastructure to support this significant new piece of business and has already developed a network of 3,500 primary care physicians, 1,200 medical specialists and 500 hospitals in Argentina This is a list of hospitals in Argentina. City of Buenos Aires
Comprehensive Care, based in Tampa, administers and operates behavioral healthcare programs for government agencies and managed care organizations. The company currently has contracts covering approximately 1.5 million healthcare organization members and Medicaid recipients, and has a network of approximately 15,000 practitioners. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements may be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainties in the market, pricing, competition, procurement efficiencies and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release. |
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