October 15, 2021
Coral Gables, FL — Palm Medical Centers (“PMC”), an MBF Healthcare Partners II, L.P. (“MBF”) portfolio company, has named Jim McHugh as its Chief Financial Officer. The announcement was made as PMC continues to expand the company’s executive team to implement and execute on its growth strategy in Florida.
Mr. McHugh brings with him nearly 15 years of executive experience in senior-focused healthcare and has operated Medicare Advantage plans, ACOs, and physician networks in both Texas and North Carolina. Most recently, Mr. McHugh served as Vice President of Financial Planning & Analytics at Southwestern Health Resources in Dallas-Fort Worth. Prior to that, he was the Chief Financial Officer for North Texas Specialty Physicians (NTSP), an independent physician association that was acquired by Southwestern Health Resource in 2018, in Fort Worth, Texas.
“Jim brings a successful track record of guiding managed care organizations and growing top line revenue,” said Fowad Choudhry, CEO of Palm Medical Centers. “His financial and strategic acumen along with his experience in company transactions provides a great addition to PMC’s executive team as we continue to add new medical centers and expand PMC’s model of providing high-quality, cost-efficient medical care to our patients throughout our markets in both South and Central Florida.”
As Chief Financial Officer of NTSP, Mr. McHugh helped to significantly grow the company’s annual revenue, launched Medicare Advantage plans in Fort Worth and North Carolina, and served as Chief Financial Officer of a CMS Medicare Pioneer ACO.
Mr. McHugh earned a Bachelor of Arts with honors in Economics from Vanderbilt University and a Master of Business Administration from Texas Christian University Neeley School of Business where he was recipient of the Top Neeley Scholar award.
ABOUT PALM MEDICAL CENTERS
Founded in 2013, Palm Medical Centers is a provider of value-based, capitated primary care services with a focus on high-quality clinical outcomes, cost-effective care, and a patient-centric experience. Operating a network of 19 medical centers across five counties in Florida, PMC serves more than 34,000 Medicare Advantage and managed Medicaid patients. Partnering with numerous managed care organizations, Palm Medical Centers offers comprehensive and integrated medical care to plan members with a focus on quality. In addition to primary care services, the company coordinates cardiology, dentistry, optometry, pediatrics, podiatry, psychiatry and other specialist services. Palm Medical Centers continues to seek partnership opportunities with high quality providers in existing and new markets.
ABOUT MBF HEALTHCARE PARTNERS II, L.P.
MBF Healthcare Partners II, L.P. is a leading middle market healthcare private equity fund based in Coral Gables, Florida. Our strategy is to partner with exceptional management teams while leveraging MBF’s operating experience, domain segment knowledge, and tenured relationships to rapidly accelerate value creation. The partners of MBF have substantial operating experience in healthcare and have held senior management positions in both private and publicly traded healthcare companies. MBF principals have managed and helped build some of the nation’s most innovative and successful healthcare companies. The firm is headquartered in Coral Gables, Florida. For more information, please visit www.mbfhp.com.