SOURCE: Complete Care Medical, Inc.

February 16, 2006 09:57 ET

Complete Care Medical, Inc., Developing a Use of Funds Schedule for Financing From TID Funding, Inc.

First Call on Funds Is to Expand Marketing

HOUSTON, TX -- (MARKET WIRE) -- February 16, 2006 -- Complete Care Medical, Inc., (OTC: CCMI), announced today that it is completing a use of funds schedule to assure the most effective use of the $2,000,000 of financing committed to CCMI by TID Funding, Inc. on February 14, 2006. "Expanding our marketing program to reach a broader customer base and increase our sales revenues is at the top of our list of financial priorities," according to JP Monteverde III, CEO of CCMI. "We want to use a portion of these news funds to help the company expand its revenue base. CCMI currently has several existing contracts with companies that provide a variety of different services, representing more than 70 million people. Until now, we have not had the necessary marketing funds available to be able to put together a comprehensive marketing program to reach this target audience and gain CCMI customers. A portion of these new funds will be earmarked for this effort, and we believe that the use of these funds for these marketing related activities will result in a dramatic return on these investment dollars utilized, and provide significant, long term shareholder benefit."

Through its subsidiaries, Complete Care Medical, Inc., provides patients in all 50 states with lower cost alternatives for disease management, medical supplies and prescription pharmaceuticals. In addition, Complete Care Medical's discount services and medication program offers healthcare payers, healthcare providers, healthcare professionals and patients with easy access to utilization and compliance data in order to improve patient outcomes and improve quality of life.

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Forward-Looking Statements: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties.

All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

Contact Information

  • Contact:
    J.P. Monteverde III
    President and CEO
    Complete Care Medical, Inc.
    Telephone: 281 830 5689