YONKERS, N.Y., April 21, 2005 (PRIMEZONE) -- Comprehensive HealthCare Solutions, Inc. (OTCBB:CMHS) announces its first agreement with a municipal government, Luzerne County, Pennsylvania. The county will distribute private labeled discount prescription cards, provided by CMHS, to approximately 315,000 residents of their county.
The average age of the population of Luzerne County is amongst the oldest in the United States. In fact, according to factbites.com, 24% of Luzerne County's population is between the ages of 45-64 and 20% is over age 65. Luzerne County will be distributing Comprehensive's discount prescription cards to virtually all of its county residents. On April 9, 2005, the Wilkes-Barre, PA newspaper, Citizens' Voice, published an article about this event, containing the following statements: "'We know (lack of health insurance) is a problem in Luzerne County.' said Sam Diaz, county chief of budget and finance, 'This allows those without it (prescription coverage) to get their prescriptions at a discount.'" In light of this disclosure, CMHS anticipates higher then average utilization.
John Treglia, Chairman & CEO of CMHS, stated, "We have worked diligently, for some time, with the County Commissioners on this contract and are pleased to see this agreement come to fruition. We anticipate this agreement to be the model for many other county and/or local governments. As a result of Luzerne County's age demographic, we expect a higher than average utilization rate with the discount prescription card. Statistics show that people using a discount prescription card average 2.8 prescriptions per month. Comprehensive will receive fees on approximately 85% of all prescription card purchases.
Treglia continued, "We are in discussions with other municipal governments, large groups and well known corporations and we are optimistic that we will announce additional contracts in the near future. This agreement, along with the events previously announced on April 18, 2005 regarding the past few months, provide us with the framework and confidence to realize our potential growth."
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. This press release contains forward-looking statements regarding the intent, belief or current expectations of the Company and members of its senior management team. While the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that would cause actual results to differ materially from those contemplated within this press release include but are not limited to, those associated with general business conditions; client concentration; dependence on network providers; the timely and efficient implementation of customer contracts; developments in health care reform and other regulatory issues and changes in laws and regulations in key states where the Company operates; future capitol needs; control by directors and officers; and the loss of key management personnel. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company disclaims any obligation to publicly update or revise any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events.