Miami Herald: Entrepreneur plans new HMO in South Florida

Sep 21, 2009

This article was opublished by the Miami Herald on September 21, 2009


Five years after Miguel “Mike” Fernandez sold CarePlus to Humana for $450 million, the veteran Coral Gables healthcare entrepreneur announced plans to start a new managed care insurance plan that will employ 1,000 in three Florida offices, with hopes of expanding outside the state later.

The HMO is expected to be launched late this year, according to a news release from MBF Healthcare Partners issued Monday morning. It will be named Simply Healthcare Plans.

MBF is filing an application for an HMO license and is planning paperwork for a Medicaid contract. In 2010, the firm plans filing for Medicare approval.

MBF, a healthcare investment company formed by Fernandez after the sale of CarePlus, has $100 million in commitments for the venture, with $80 million of that coming directly from Fernandez.

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

The company will start with offices in South Florida, Tampa and Orlando to manage claims administration, provider relations, member relations and medical affairs. When fully staffed, MBF expects the offices to have 1,000 employees.

“Our past success resulted in management and staff receiving approximately $90 million from the sale of our previous two HMOs,” Fernandez said in the press release. “Because of our track record, we already have more than 300 resumes on file for a wide variety of jobs.”

The company said those interested can contact MBF Healthcare at 121 Alhambra Plaza, Suite 1100, Coral Gables, FL 33134 or submit resumes to