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Metropolitan Health Networks Files Application With Centers for Medicare & Medicaid Services
Thursday March 17, 7:00 am ET
Company Expands Market Area Application to Include Three Additional Florida Counties


WEST PALM BEACH, Fla.--(BUSINESS WIRE)--March 17, 2005-- Metropolitan Health Networks, Inc. (AMEX:MDF - News), a provider of high quality, comprehensive healthcare services to patients in South and Central Florida, announced today that its wholly owned subsidiary, METCARE Health Plans, Inc., (METCARE Health Plans), has successfully submitted its application with the Centers for Medicare & Medicaid Services (CMS) to participate in the Medicare Advantage program. Upon approval from CMS, it is expected that METCARE Health Plans will be awarded a contract with CMS. The CMS contract would entitle METCARE Health Plans to receive federal monies to offer a Medicare Advantage HMO Plan to Medicare beneficiaries located in its approved markets.
In addition, Metropolitan announced that it has expanded its intended Medicare Advantage HMO market area to include Charlotte, Sarasota and Lee Counties on Florida's west coast. These markets are being added to Martin, St. Lucie and Okeechobee Counties on Florida's eastern Treasure Coast.

Commenting on the submission, Michael Earley, Metropolitan's Chairman and Chief Executive Officer, stated, "We are pleased to announce that our application has been accepted for consideration by CMS. Further to our announcement in November of 2004 of our application with the requisite Florida state licensing agencies to create our HMO, the application to CMS is an important next step in the regulatory process. Additionally we have now added three new counties to our state and federal application process. This is an exciting development for Metropolitan as these west coast Florida counties are home to more than 260,000 Medicare eligible residents, and similar to our Treasure Coast target market, are currently underserved by Medicare Advantage providers. We look forward to reporting our continued progress with the HMO application and licensing process in due course."

About Metropolitan Health Networks, Inc.:

Metropolitan is a growing healthcare organization in Florida that provides comprehensive healthcare services for Medicare Advantage members and other patients in South and Central Florida. To learn more about Metropolitan Health Networks, Inc. please visit its website at http://www.metcare.com.