Daily News: May 6, 2013

TCA Global Credit Closes $5MM Facility to CompCare

Comprehensive Care (CompCare) announced that it has closed a $5 million senior secured credit facility with TCA Global Credit Master Fund (TCA). Under terms of the agreement, funds will be made available to comprehensive care on an as-needed basis, with the initial draw down set at $1 million.

We view the Credit Facility with TCA as not only an endorsement by them of the validity of our pharmacy program, but also reflective of their belief in management’s ability to execute. We very much appreciate this level of support and are confident in our ability to justify TCA’s and our investors’ belief in us,” said Clark A. Marcus, chairman and CEO of CompCare.

TCA Fund Management Group manages the TCA Global Credit Master Fund and acts as an advisor to countless small companies from its offices in the U.S., UK and Australia.

Tampa, FL-based CompCare provides behavioral health, substance abuse and pharmacy management services for employers, Taft-Hartley health and welfare Funds, and managed care companies throughout the United States.