CompCare/First Hospital Merger Falls Through

OPEN MINDS The Behavioral Health Industry Analyst Industry News Lack of financing was cited as the reason for the end of merger plans between Comprehensive Care Corporation and First Hospital Corporation of Norfolk. To address its financial woes, W. James Nicol, the new president and chief executive officer of CompCare, has moved the company's headquarters from Irvine, California to St. Louis and plans to sell its California operations. CompCare plans to sell its nine freestanding treatment centers in California, which have about 700 beds. Industry analysts speculate that the properties should command $45 to $55 million. Community Psychiatric Centers . . .