UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | October 13, 2006 |
Hythiam, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 001-31932 | 88-0464853 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
11150 Santa Monica Boulevard, Suite 1500, Los Angeles, California | 90025 | |
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code: | (310) 444-4300 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
On October 13, 2006 Hythiam entered into its first license agreement for direct third-party reimbursement of the company’s PROMETA Protocols for alcoholism and stimulant dependence. This third-party payor provides medical and behavioral health services for a specific patient population, with a high prevalence of both alcoholism and stimulant dependence, of approximately 5,500 individuals. Hythiam will receive its negotiated government reimbursement rate of $2,500 per individual treated for substance dependency with the PROMETA Protocols. It is expected that treatment of patients will commence immediately upon the completion of training. It is Hythiam’s belief that this relationship is a significant development for its business model. Moreover, with Prometa's success within this patient population, broader reimbursement for similar populations throughout the U.S. can be achieved.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Hythiam, Inc. | ||||
October 18, 2006 | By: | /s/ Chuck Timpe | ||
Name: Chuck Timpe | ||||
Title: Chief Financial Officer |