YONKERS, N.Y., Aug. 2, 2005 (PRIMEZONE) -- Comprehensive HealthCare Solutions, Inc. (OTCBB:CMHS) announces that it has signed a contract with the County of Lehigh in Pennsylvania on July 18, 2005, which is the Company's second municipal county government contract. Lehigh County intends to make available private-labeled discount prescription benefit cards, provided by Comprehensive, to approximately 320,000 of the County's residents. Lehigh County is home to the state's third largest city, Allentown.
"Americans are paying more for prescription drugs than ever before," County Executive Jane R. Ervin said. "We in Lehigh County want to do what we can to help our citizens get the medications they need at more affordable prices so that they can maintain a healthy standard of living.
"And the beauty of this alliance with Comprehensive lies in the fact that we can provide this opportunity to Lehigh County residents at no cost to the County and at no cost to participants," Executive Ervin said.
In the July 20, 2005 edition of Allentown's Morning Call, Lehigh County's largest daily newspaper, Lehigh County Commissioner Kurt J. Derr said the proposal from Comprehensive allows users to buy drugs at more pharmacies than a competitor's plan that had initially been considered including Rite-Aid, Eckerd, Walgreens, CVS and Wal-Mart.
Lehigh County will begin to deliver Comprehensive's discount prescription card, through various distribution outlets including: libraries, senior centers, various county organizations and associations and the Allentown Fair. Information on how to obtain the cards will be provided through press conferences, cable TV, newspaper ads, seminars and posters located in high traffic areas throughout the county. Card distribution is expected to begin August 30th and continue through the fall.
Paul Rothman, President of Comprehensive HealthCare Solutions, Inc. stated, "We are extremely pleased with this new municipality agreement, especially because it comes as a result of our first municipal contract with Luzerne County. The attention generated from the newspaper articles and other media coverage throughout the region has created interest from surrounding counties some of whom have inquired about obtaining the opportunity to provide the same benefits for their residents. With these first two counties signed, we have amassed over 600,000 potential residential users for Comprehensive's discount prescription card."
Mr. Rothman added, "With an average use of 2.5 prescriptions per person per month and an estimated 15% of the population utilizing our prescription discount cards, it is expected that our relationship with Lehigh County will be potentially very profitable."
The Company generates revenues from approximately 85% of all prescriptions that are filled utilizing its prescription discount cards and believes that these revenues will begin to significantly impact the Company's third quarter operations.
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.