Jorge Rico is a Co-Founding Partner of MBF and has served as a Managing Partner of the firm since they first opened their doors. He directs MBF’s development and manages all aspects of MBF’s investment activities.
Mr. Rico has served as a member of the Board of Directors of Navarro Discount Pharmacies, Nutri-Force Nutrition, Simply Healthcare Holdings, Medical Specialties Distributors, Suncrest Healthcare and is currently a member of the Board of Directors of E-Mindful and Concordia Behavioral Health. He is also a member of the Board of Trustees at St. Thomas University in Miami, Florida.
Prior to joining MBF, Mr. Rico was the Chief Operating Officer of Ramsay Health Care, Inc. (NASDAQ: RHCI), a publicly held psychiatric hospital company. Mr. Rico joined RHCI in 1997, and was a key member of the team that assumed management control of RHCI. At the time, RHCI had cumulative net losses of $39 million during the prior four years and was in default on its debt. After developing and implementing a turnaround strategy, management led the company to 17 consecutive quarters of growth and profitability prior to selling to Psychiatric Solutions, Inc. (NYSE: PSYS), the largest psychiatric hospital company at the time. He remained with PSYS for one year to assist with the integration and was the President of the largest division of PSYS during that time. Prior to joining RHCI, Mr. Rico was Executive Vice President of Administration and a key member of the management team of Ramsay-HMO, Inc. (NYSE: RMO), the second largest publicly held HMO in Florida during the early 1990’s. In 1994, RMO was sold to United HealthCare (NYSE: UNH) for approximately $500 million, representing a return on invested capital of more than 10 times. Mr. Rico remained with UHC as a key member of the senior management team and assisted the Company in becoming the largest HMO in the State of Florida.