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Sun Capital Partners acquires Miami Beach Medical Group

Sun Capital Partners recently announced that its affiliate it signed an agreement to acquire Miami Beach Medical Group from Gauge Capital. Terms of the private transaction were not disclosed.

MBMG, based in Doral, is the second-largest independent provider of capitated primary care services to Medicare Advantage plan members in South Florida, with a network of 19 medical centers across four counties. Besides contracted relationships to 10 health plans, its own management services organization has 74 physicians that serve more than 1,750 Medicare Advantage patients in the area.

“Working with the Sun Capital team gives us the resources we need to enhance operations and strengthen performance as we continue to deliver outstanding care to our patients and great value for our partners,” said Efrain Duarte, Chief Executive Officer, MBMG. “With the industry expertise Sun Capital brings to the table, we are well-positioned to build on our delivery model and take advantage of new growth opportunities.”

It’s certainly the right time for a move like this for private investment firm Sun Capital, which has offices in Boca Raton, New York and Los Angeles. National Medicare Advantage enrollment is forecast to grow approximately 8% a year and is expected to cover 37 million members by 2025, due to its attractive dynamics for patients, providers and payors, and driven by the rapid expansion of the U.S. senior population. Not to mention that Florida is the second largest Medicare Advantage market by enrollment in the country, and South Florida accounts for 30% of total enrollees in Florida.

“As Medicare Advantage enrollment continues to surge, MBMG is ideally positioned, both geographically and strategically,” said Marc Leder, co-chief executive officer of Sun Capital (pictured ab0ve). “They have a highly experienced management team, a scalable platform and have made a number of key investments in infrastructure and care delivery. We look forward to leveraging our deep expertise in building healthcare organizations to help MBMG accelerate growth while delivering the highest quality service.”

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.