Oct 24 2011
Comprehensive Care Corporation (CompCare) (OTC BB: CHCR), which provides behavioral health, substance abuse and psychotropic pharmacy management services for managed care companies throughout the U.S., today announced that it has acquired exclusive distribution rights to an innovative patented product aimed directly at reducing depression in individuals resulting from chronic back pain.
The agreement with Disc Disease Solutions, Inc. grants CompCare exclusive distribution rights in the U.S., Canada and Puerto Rico not only to CompCare's existing and future accounts, but also to pain and weight management clinics, the construction and moving industry; and, generally, companies involved in the business of heavy lifting. The lumbar traction DDS belt is a revolutionary approach designed to alleviate or ameliorate to a substantial extent lower back pain. It is a high-margined, coded product expected to launch late this year or early in 2012.
"This new product, which is important to our effort to add high-margin ancillary products for distribution to commercial sector populations, fits perfectly under our Wellness Program, affording the opportunity to improve quality of care, decrease hospital admissions and reduce overall medical costs associated with depression," said Clark A. Marcus, CompCare Chairman and CEO.
"There is a close association between depression and back pain. Eight of ten people at some time in their lives suffer from back pain and a secondary, unexpected result of severe, long-lasting back pain is the onset of depression," Mr. Marcus said. "Major clinical depression is four times more likely in those with chronic back pain, a group of people who often have feelings of despair and hopelessness, than in the general population. This product addresses the problem directly before it becomes yet another costly medical expense both in terms of medical care and prescription drugs."
"I believe this product will heighten patient care and improve overall well-being while also decreasing costs not only for the Company but also for our health plan accounts. It aligns with our goal to slash healthcare costs across the board. Part of this overall program strategy is to also execute full-risk contracts for prescription drugs. We are confident in the program's ability to not only minimize the occurrence of depression, but also to decrease pharmacy costs associated with excessive, and often unnecessary, pain management medications. We are committed to changing the face of medicine by improving the quality of care for our members," Mr. Marcus concluded.
SOURCE Comprehensive Care Corporation