Comprehensive Care: The nation’s largest alcohol and...
Comprehensive Care: The nation’s largest alcohol and drug treatment company reported a $4.7-million first-quarter loss, sending the Irvine company’s stock price down from $8.375 to $3.625 and endangering a critical merger with First Hospital Corp. Revenue during the first quarter fell 17% to $44 million; the $4.7-million loss contrasts with a $1.6-million profit in the same period a year earlier. The company, which operates the CareUnit chain of treatment centers, has suffered recently as fewer and fewer people use its facilities and those who do aren’t staying as long as they once did.
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