At a glance
| Check size | $10M to $50M S2 |
|---|---|
| Deal types | Platform, Add-on, Growth S2 |
| Sectors | Healthcare Services |
What MBF Healthcare Partners buys
MBF Healthcare Partners is a Coral Gables, Florida firm that invests only in healthcare services. Its founders ran and sold healthcare businesses before they became investors, and the firm has been backing companies since 2005. Its stated focus areas are outpatient behavioral and mental health, post-acute care, home-based provider services, managed care, chronic care management and outsourced services. It usually puts $10 million to $50 million of equity into each company and can bring in co-investors for bigger deals.
MBF invests in two ways. It buys control of an existing company and grows it through new locations and acquisitions, the approach it is now taking with Arete Health in outpatient physical therapy. It also funds proven executives to start a new company, often alongside a first acquisition. A smaller practice or clinic group is most likely to meet MBF as an add-on to one of its current platforms: Arete Health, BrightPath Behavior in autism therapy, or Palm Medical Centers in primary care.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| May 2026 | Virginia Rehabilitation & Wellness and Summerville Physical Therapy & Balance for AdultsPhysical therapy practices in Northern Virginia and South Carolina added to Arete Health, which now runs 16 clinics | Add-on | Healthcare Services | Source |
| Sep 2025 | Arete HealthNew outpatient physical therapy platform formed with CEO Eric DeYoung through the purchase of Brunswick Physical Therapy and ProFlex Physical Therapy, giving it 11 clinics in North Carolina, Maryland and Virginia | Platform | Healthcare Services | Source |
| 2025 | HavenRise AcademyNew behavioral health program for students in grades 6 to 12 | Investment | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S4.
Behavioral Health
- BrightPath Behavior
Managed Care
- Palm Medical Centers
Mental Health
- HavenRise Academy
Physical Therapy
- Arete Health
Past investments: Acorn Health, Affinity Hospice, Carisk Partners, eMindful, Medical Specialties Distributors, Navarro Discount Pharmacies, Nutri-Force Nutrition, Simply Healthcare, Strive Dental Management, Suncrest Home Health
Greymont’s take
How MBF Healthcare Partners fits a seller
MBF suits owners of outpatient healthcare businesses, such as physical therapy, autism and behavioral health, primary care for Medicare Advantage and Medicaid patients, and other provider services, who want a buyer that knows how these businesses run day to day. Its partners helped build companies such as Simply Healthcare Plans and CarePlus Health Plans, so owners can expect hands-on operating help along with the capital.
A sale to MBF today usually means joining a regional platform as one of several clinic groups, as two physical therapy practices in Virginia and South Carolina did with Arete Health in May 2026. Arete says its operating partner model gives local clinical leaders support and room to grow, so a clinician owner may be able to keep a leadership role. Owners should ask how much equity they would roll into the platform, what role they would hold after closing, and how long MBF expects to own the business.
Questions owners ask
How much does MBF Healthcare Partners invest in a company?
MBF says it usually invests $10 million to $50 million of equity per company. For larger deals it can arrange extra money through co-investments from its limited partners and other private investment firms.
What kinds of healthcare companies does MBF buy?
Only healthcare services. Its listed focus areas are outpatient behavioral and mental health, post-acute care, home-based provider services, managed care services, chronic care management and outsourced services. Current holdings include Arete Health in physical therapy and BrightPath Behavior in autism therapy.
Will MBF back an executive who wants to start a new company?
Yes. Its criteria include funding a proven management team to launch a new company before or at the same time as a first acquisition. Arete Health was formed this way in September 2025 with CEO Eric DeYoung and two physical therapy acquisitions.
Is MBF still making acquisitions?
Yes. In May 2026 Arete Health bought Virginia Rehabilitation & Wellness and Summerville Physical Therapy & Balance for Adults, bringing it to 16 outpatient clinics, 14 of them acquired and 2 opened from scratch.
Sources
- S1MBF Healthcare Partners home page Accessed October 20, 2026
- S2MBF Healthcare Partners: Expertise and investment criteria Accessed October 20, 2026
- S3MBF Healthcare Partners: Our Story Accessed October 20, 2026
- S4MBF Healthcare Partners: Portfolio Accessed October 20, 2026
- S5Arete Health, a New Portfolio Company Formed by MBF Healthcare Partners and Eric DeYoung, Announces Two Acquisitions (September 9, 2025) Accessed October 20, 2026
- S6Arete Health Announces Acquisitions of Virginia Rehabilitation & Wellness and Summerville Physical Therapy & Balance for Adults (May 4, 2026) Accessed October 20, 2026
- S7MBF Healthcare Partners portfolio: HavenRise Academy Accessed October 20, 2026
- S8MBF Healthcare Partners portfolio: BrightPath Behavior Accessed October 20, 2026
- S9MBF Healthcare Partners: Latest News Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with MBF Healthcare Partners. Figures are as reported on the dates shown and may have changed. Request a correction