Metropolitan Health Networks, Inc. to Acquire Continucare Corporation

BOCA RATON, Fla. & MIAMI--(BUSINESS WIRE)--Metropolitan Health Networks, Inc. (NYSE AMEX: MDF), (“Metropolitan”) and Continucare Corporation (NYSE: CNU), (“Continucare”) announced jointly today that they have entered into a definitive merger agreement whereby Metropolitan will acquire Continucare in a cash and stock transaction valued at approximately $416 million at the time of announcement. The transaction will create a company that provides care to over 68,000 Medicare Advantage and Medicaid customers. The combined company will own 31 primary care medical practices, utilize a network of more than 250 contracted, independent, primary care practices, and will operate in 18 Florida counties, including the Daytona, Miami, Ft. Lauderdale, West Palm Beach, and Tampa metropolitan areas.