Metropolitan Health Networks, Inc. Q4 2007 Earnings Call Transcript

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2008-03-24 08:18:08.0

Tags: Metropolitan Health Networks Inc.

Question-and-Answer Session

Operator

(Operator Instructions) Your first question will be from the line of Bob Leatherman [ph] of Hissup and Mammoth [ph]. Please proceed.

Michael Earley

Hi, Bob.

Operator

Bob, your line is open now.

Bob Leatherman – Hissup and Mammoth

Can you hear now?

Michael Earley

Yes, we can hear you now, Bob.

Bob Leatherman – Hissup and Mammoth

Okay, good. What is your account for the fourth quarter?

Michael Earley

The outstanding?

Bob Leatherman – Hissup and Mammoth

Yes.

Michael Earley

Outstanding was $51,556?I am sorry, $51,500,736.

Bob Leatherman – Hissup and Mammoth

Okay, great. Thanks. The other question relates to Care Plus and question is how is that progressing and may be you could give me an idea what the membership or member months were and what do you project that for ’08? How is that going to grow?

Michael Earley

We got them to this contract very late in ’07 so there is very little impact on our result in 2007, not enough to matter. Care Plus is aggressively growing their business in the several counties to them in Florida and we are participating with them. We expect that it will be a growth business but at this point, it is too hard for us to project the impact to ’08 but we are gaining members in that business. Currently, we pick up a handful in the fourth quarter and we expect more in 2008.

Bob Leatherman – Hissup and Mammoth

Okay, great. Relating to the acquisition opportunities that you are seeing more opportunities in position practices to grow the PSN or in the whole HMOs, I know some of those have been in Florida have been high in financial difficulty like America’s health choice, are you seeing more of those type of opportunity?

Michael Earley

Does not, the biggest group of opportunities we are seeing are small MSOs serving Humana that are coming on the market. I think that in general, the players in the industry are recognizing that scale is very important and that this is an interesting time for them to explore their opportunities for their business. We are also seeing primary care practices that serve principally the Medicare segment, many of them want to be for service bases, also available in the market and we are actively looking at a number of those.

Bob Leatherman – Hissup and Mammoth

Okay, great. Thanks.

Michael Earley

 

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