Sun Capital Partners acquires Miami Beach Medical Group
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.”