Feb 17 2010
MBF Healthcare Partners, L.P. (“MBF”), a healthcare services focused
private equity firm, announced its plans to invest up to $50 million of
equity capital to support Simply Healthcare Plans of Florida, Inc.
(“SHP”), an HMO based in Coral Gables, Florida. The equity investment
will be used to fund expansion and acquisition efforts in Medicare and
Medicaid. SHP is a licensed HMO in Florida that has been approved by the
State to expand into the Medicare and Medicaid markets. MBF is
sponsoring a seasoned managed care team that is led by Peter Jimenez, an
exceptional executive with a long track record of value creation in
managed care that has been credited with the success of two large HMOs
in Florida, Physician Healthcare Plans, which was sold to Amerigroup
Corporation in 2002, and Care Plus Health Plans, which was sold to
Humana in 2005. SHP is aggressively pursuing acquisition opportunities
throughout the country while expanding its current operation and
capabilities in Florida.
Mike Fernandez, Chairman and CEO of MBF, said, “I believe that the
current healthcare environment in the United States presents an
opportune time to build and expand managed healthcare services. We
believe that managed care can be an integral part in coordinating high
quality healthcare services while controlling fraud and abuse in the
healthcare system in State and Federal funded programs. In addition, we
believe that Medicaid will play an integral part in the Federal
Government’s efforts to expand healthcare coverage to the uninsured
population and that Medicare Advantage plans will continue to expand as
the baby boomers reach the Medicare eligible age. Well run managed care
plans have proven that they can offer high quality services and benefits
to its members while providing State and Federal government with
predictable costs. We are extremely fortunate that we have been able to
assemble a team of senior executives who have a proven track record of
success in managed care. Peter Jimenez who is leading our executive team
is an exceptional executive and we look forward to collaborating with
him to capitalize on the opportunities created by the recent
developments in the healthcare market. Our partnership with Peter and
his executive team reflects another example of MBF’s current strategy in
a changing private equity market to identifying highly attractive
segments in healthcare services and partner with outstanding executives.”
Source MBF Healthcare Partners