MBF HEALTHCARE PARTNERS - Key Persons

Job Titles:

• CEO of Health Holdings, LLC
• Operating Partner

Fowad Choudhry is the CEO of Health Holdings, LLC, which operates Palm Medical Centers (PMC), a primary care medical group managing medical care for over 50,000 patients on Medicare Advantage (MA) and managed Medicaid products, in 37 medical centers throughout Florida and Texas. Prior to joining MBF, Fowad served in executive roles as the CEO for North Texas Specialty Physicians (NTSP), a managed IPA in Fort Worth, Texas and as the CEO of Care N' Care Insurance Company, Inc., an MA health plan also in Fort Worth, Texas, leading both to a successful sale in 2018. Fowad also worked in various managed care roles with PacifiCare of Texas and spent 5 years active duty as a medical service officer in the United States Air Force. Fowad received a BBA degree from Southern Methodist University in Dallas, TX and dual MBA and MSHA degrees from the University of Colorado in Denver, CO.

Job Titles:

• Chief Financial Officer
• Chief Financial Officer and Chief Compliance Officer for the Firm and Is Responsible

Heather serves as Chief Financial Officer and Chief Compliance Officer for the firm and is responsible for the firm's financial and compliance reporting. She has more than 35 years of public and private company financial experience. Previously, Heather served as Chief Financial Officer for Brightline, a Fortress Investment Group portfolio company; Vice President and Chief Financial Officer of Ryder System's Global Fleet Management Solutions Division and Senior Vice President of Corporate Finance for MasTec, Inc. Heather began her career with Deloitte & Touche LLP spending 10 years in audit and consulting. Heather holds a Bachelor of Accounting Science Degree and Honors Degree in Accounting Science from the University of South Africa, has passed the CPA exam and is a Chartered Accountant.

Job Titles:

• Director of Business Development

Jack Euston is the Director of Business Development at MBF Healthcare Partners. He joined the firm in 2023 and is responsible for investment origination and qualification, business development, and working with executives and entrepreneurs to implement operational and growth strategies. Jack also supports MBF's portfolio companies' with their growth initiatives. Prior to joining MBF, Jack spent 9 years in investment and corporate banking at Citizens Financial Group (NYSE: CFG) in Chicago, New York and Boston. At Citizens, Jack focused exclusively on healthcare services and healthcare technology, advising companies on M&A and capital raising. Jack began his career in foreign exchange trading at Associated Foreign Exchange in Chicago. Jack received his B.S.B.A. in Financial Management from the Sam M. Walton College of Business at the University of Arkansas

Job Titles:

• Managing Partner
• Member of the Board of Directors of Navarro Discount Pharmacies

Jorge Rico is a Co-Founding Partner of MBF and has served as a Managing Partner of the firm since they first opened their doors. He directs MBF's development and manages all aspects of MBF's investment activities. Mr. Rico has served as a member of the Board of Directors of Navarro Discount Pharmacies, Nutri-Force Nutrition, Simply Healthcare Holdings, Medical Specialties Distributors, Suncrest Healthcare, Affinity Hospice, Acorn Health and is currently a member of the Board of Directors of Carisk Partners and Palm Medical Centers. He is also a Vice Chairman of the Board of Trustees at St. Thomas University in Miami, Florida. Mr. Rico holds an MBA in Healthcare and Leadership from University of Miami and a Bachelor of Arts in Computer Science from St. Thomas University.

Job Titles:

• Chief Executive Officer
• Operating Partner

Joseph Berardo, Jr. serves as Chief Executive Officer and as a member of the Board of Carisk Partners. Mr. Berardo's other activities include Board positions with the Brighton Health Group, BeneLynk and AMS. Prior to Carisk, has spent 18 years with MagnaCare, 10 years as CEO before transitioning to Non-Executive Chairman in January 2016. Mr. Berardo started his career in healthcare services with U.S. Healthcare in 1990. He subsequently held leadership positions at Mount Sinai Health System, Empire Blue Cross/Blue Shield and Multiplan. A former Crain's NY Business "40 under 40" and NJBIZ "Power 50 in Health Care," Mr. Berardo has authored numerous articles related to health plan strategies for carriers, providers, employers and advisors. He is also a frequent speaker and panel member at industry events. Mr. Berardo currently resides in Jupiter, FL. He and his wife, Alyssa, have been active in multiple charitable endeavors over the years. Mr. Berardo has also supported the various sports and educational programs in which his four children, Tyler, Madison, Grant and Jonathan, have participated. Mr. Berardo holds a BA in Economics from Rutgers University.

Job Titles:

• Managing Director

Josh Weber is the Managing Director at MBF Healthcare Partners. He joined the firm in 2017 and is responsible for many aspects of the firm's investment activities including thesis development, portfolio company monitoring, executive search initiatives, as well as sourcing, evaluating and consummating acquisition opportunities for MBF's portfolio of companies. Josh works closely with executive teams to assist in meeting their respective growth strategies and leads the deal origination team for MBF and the firm's portfolio companies. Josh is a member of the Board of Directors of Carisk Partners. Prior to joining MBF, Josh was Vice President at a buy-side healthcare investment bank located in Miami, FL where he was focused entirely on sourcing acquisitions in the healthcare industry. Josh received a B.S. in Finance at Miami University, OH.

Job Titles:

• Co - Founder
• Managing Partner

Marcio Cabrera is Managing Partner and Co-Founder of MBF Healthcare Partners. Mr. Cabrera was also Co-Founder and Chief Executive Officer of Simply Healthcare Holdings, Inc., an MBF portfolio company. Under his leadership, Mr. Cabrera and his team grew Simply Healthcare from a start-up, one-county Medicaid plan to a multi-product, statewide, managed care organization with over $1.2B in run rate revenues and over 800 employees in less than five years of operation. The Company was sold to Anthem, Inc. in February 2015 for a return of capital to its investors of more than 20 times. Mr. Cabrera has also served on numerous boards, including Navarro Discount Pharmacies, Nutri-Force Nutrition, Simply Healthcare Holdings, Medical Specialties Distributors and Atlantic Dental. Mr. Cabrera is currently a member of the Board of Directors of Strategic Health Services and the Foundation for Human Rights in Cuba. Mr. Cabrera's background includes over 25 years of progressively responsible positions in various healthcare companies. Prior to MBF, Mr. Cabrera was Chief Financial Officer, Executive Vice President and Secretary of Ramsay Health Care, Inc. (NASDAQ: RHCI), a publicly held psychiatric hospital company. During his tenure at RHCI, he was a key member of the management team that developed and executed the strategy that led to the turnaround of the Company and the eventual sale to Psychiatric Solutions, Inc. (NASDAQ: PSYS). Prior to RHCI, he was Executive Vice President and Vice President of Finance of Ramsay-HMO, Inc. (NYSE: RMO). He was a key member of the management team that developed and implemented the strategy that led to the successful statewide expansion and eventual sale of the Company to United HealthCare (NYSE: UNH). Prior to RMO, he held various positions at Deloitte & Touche, including Lead Manager for the firm's largest client in the Southeastern United States.

Job Titles:

• Associate

Job Titles:

• CEO
• Chairman
• University of Miami Miller School of Medicine Dean 's Advisory Council

Miguel "Mike" B. Fernandez currently serves as Chairman of MBF Healthcare Partners, LP, a private investment firm located in Coral Gables, Florida. The firm focuses on investing in healthcare service companies nationwide. He has been the Founder and/or majority shareholder of over 20 healthcare related companies. Most of these companies have been acquired by publicly traded companies. Mr. Fernandez is a member of the University of Miami Miller School of Medicine Dean's Advisory Council. He has served on the Board of Directors of Mednax (NYSE: MD), and on the Board of Trustees of Loyola University Maryland and the University of Miami. He has also served on the Boards of Dana Farber Cancer Institute, the United Way, Sylvester Comprehensive Cancer Center, and others. Mr. Fernandez has been frequently honored for his business acumen. He has been recognized dozens of times with business and community awards.

Job Titles:

• Business Development Officer

Sebastian Zuluaga is the Business Development Officer at MBF Healthcare Partners. He joined the firm in 2018 and is involved in all aspects of the fund's investment activities from thesis development to portfolio company sourcing and monitoring. Sebastian is also responsible for supporting MBF's portfolio companies' growth initiatives through originating, evaluating, and completing acquisitions. Prior to joining MBF in 2018, Sebastian was the Director of Business Development at a buy-side healthcare investment bank headquartered in Miami, FL. He was responsible for managing the firms domestic and cross-border M&A activity across various healthcare verticals. Sebastian received a B.S. in Economics and a minor in Business at Florida State University.