May 6, 2010
CORAL GABLES, FL – MBF Healthcare Partners, L.P. (MBF), a healthcare services focused private equity firm, announced today that its portfolio company Simply Healthcare Plans, Inc., a Florida based HMO, completed the previously announced acquisition of assets related to the Medicaid and Florida Healthy Kids business of Total Health Choice, Inc. (THC) a Florida based HMO.
Simply Healthcare Plans also announced today that it has made a significant investment in Better Health, L.L.C. a Provider Sponsor Network that provides managed care services to Medicaid recipients in Broward County. Through the combination of these two investments, Simply Healthcare Plans will be involved in the coordination and delivery of healthcare services for over 40,000 Medicaid recipients and Florida Healthy Kids in Florida.
Michael “Mike” Fernandez, Chairman of MBF said, “The acquisition of assets related to the Medicaid and Florida Healthy Kids business of THC and the investment in Better Health is consistent with our continued commitment of providing Simply Healthcare Plans with the necessary capital it needs to continue its aggressive growth plans.”
Peter Jimenez, Chief Operating Officer of SHP said, “We are very excited with these two investments as they provide a solid Medicaid membership base and make us a significant player in South Florida. South Florida is our backyard and we intend to be the market leader here, so the acquisition of assets related to the Medicaid and Florida Healthy Kids business of THC and the investment in Better Health definitely provide us a good running start.”
Simply Healthcare Plans, Inc., headquartered in Coral Gables, Florida, is a licensed HMO focused on providing Medicare Advantage and Medicaid managed care solutions and services. For more information about Simply Healthcare Plans, Inc., contact Peter Jimenez at