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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): MARCH 17, 1999
COMPREHENSIVE CARE CORPORATION
(Exact Name of Registrant as Specified in Charter)
DELAWARE 0-5751 95-2594724
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
4200 WEST CYPRESS STREET, STE 300
TAMPA, FLORIDA 33607
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(Address of Principal Executive Offices) (Zip Code)
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Registrant's telephone number, including area code: (813) 876-5036
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ITEM 5. OTHER EVENTS.
On March 17, 1999, the Company received notification from Humana
Health Plans of Puerto Rico, Inc. that the Company would not be selected to be
the provider of behavioral care services for Humana in the event that Humana's
contract with the Commonwealth of Puerto Rico is renewed. The Company's
subsidiaries, Comprehensive Behavioral Care, Inc. and Comprehensive Health
Associates, Inc., have been the providers of behavioral care services under
Humana's current contract with the Commonwealth, which expires on April 30,
1999. During the current fiscal year, Puerto Rico operations have accounted for
approximately 47% of the Company's operating revenue.
The Company has submitted a bid to provide behavioral care services to
one of the healthcare companies that may bid for the aforementioned
Commonwealth of Puerto Rico insurance contract. There can be no assurance that
the Company or any of its subsidiaries will be selected as a provider by the
other healthcare company or that, if the Company is chosen, the healthcare
company will be the successful bidder for the new contract with the
Commonwealth.
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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
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Robert J. Landis
Executive Vice President and
Chief Financial Officer
Date: March 18, 1999
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