September 18, 2009

CORAL GABLES, FL – MBF Healthcare Partners, LP led by healthcare entrepreneur Miguel “Mike” Fernandez, along with select former key executives in the HMO industry, will be re-entering the managed care field in late 2009.

The new company will be named Simply Healthcare Plans and will have offices in South Florida and Tampa.  During the month of September MBF is filing an application for a new HMO license.  Shortly thereafter, MBF will file the necessary paperwork for a Medicaid contract.  Medicare will follow in early 2010.

“This rapidly evolving medical marketplace offers exciting opportunities for those with the right experience and skill set”, said Fernandez.  “I am really looking forward to rolling-up my sleeves and getting to work building a new company.”

MBF has received capital commitments exceeding their expectations and is well capitalized to fund the operations of the HMO.  MBF is also evaluating acquisition opportunities that could require capital contributions from additional strategic investors.

Offices in both locations will include operation centers to manage claims administration, provider relations, member relations and medical affairs.  When fully staffed we expect to have more than 1,000 full time employees in Tampa and South Florida.

“Because of our history of success and our track record of generous compensation for managers, we already have more than 300 resumes on file for a wide variety of jobs”, explained Fernandez.