Sun Capital Partners has signed a definitive agreement to acquire Miami Beach Medical Group, enhancing its position in the growing Medicare Advantage market in South Florida.

Target Company Overview

Miami Beach Medical Group (MBMG), founded in 1997 and based in Doral, Florida, is a prominent provider of primary care, specialty care, and ancillary services specifically for Medicare Advantage plan members in South Florida. It stands as the second largest independent provider of capitated primary care services in the region, operating a network of 19 medical centers across four counties. MBMG has established contractual agreements with 10 health plans and runs a management services organization (MSO), employing 74 independent physicians who collectively serve over 1,750 Medicare Advantage patients.

Industry Overview in South Florida

The Medicare Advantage sector in the United States is experiencing substantial growth, with national enrollment projected to increase at an approximate rate of 8% annually. This rise is anticipated to reach 37 million members by 2025, largely driven by the expanding U.S. senior population. Florida is a significant player in this market, ranking as the second largest in terms of Medicare Advantage enrollment in the country.

South Florida, in particular, represents a key area within Florida, accounting for about 30% of the total Medicare Advantage enrollees in the state. This regional concentration u