Comprehensive Care Corp

Comprehensive Care Corp. said Monday it has sold its 128-bed hospital in Cincinnati to Vencor Inc. for $3 million. Comprehensive Care said it will use the proceeds for working capital to support recent contract awards. The company said the move to sell the hospital is consistent with its strategy to focus resources on its rapidly growing managed-care business. Comprehensive Care, based in Corona del Mar, said it continues to search for buyers for its remaining hospital in Texas.

Comprehensive Care Corp., a specialty health maintenance organization, reported third-quarter net income of $1.1 million, or 34 cents a share, including a gain of $2.2 million from debenture conversion. The company recorded a net loss of $1.2 million, or 44 cents a share, a year earlier. Revenue for the quarter ended Feb. 28 was up 24% to $9.4 million from $7.6 million. For the first nine months, the company recorded a net loss of $1.