MBF Healthcare Partners

The three founding partners—Miguel (Mike) B. Fernandez, Jorge Rico, and Marcio Cabrera—jointly lead the firm. The team has operated together for 20 years, bringing combined experience as former healthcare operating executives and investors. All investment decisions reflect the founder-operator model, where principals invest their own capital alongside limited partners.

MBF leans on the operating backgrounds and healthcare industry relationships of its three founders. The firm describes targeting inefficiencies in niche markets where its operational expertise and business relationships provide differentiated access. By positioning as a partner to entrepreneurial healthcare executives rather than a purely financial sponsor, MBF aims to see opportunities that traditional financial buyers miss.

MBF primarily executes direct control buyouts, recapitalizations, and growth-equity investments in mid-market healthcare services companies. The firm can arrange co-investments from limited partners and other private investment firms when an opportunity exceeds its typical $10 million to $50 million equity check size. There is no public indication that MBF itself makes fund commitments to third-party managers.

MBF targets both control-oriented buyouts and recapitalizations of existing platforms, as well as growth equity and earlier-stage partnerships. The firm will launch new companies alongside proven management teams prior to or concurrent with an acquisition, using flexible capital structures. This two-track approach allows MBF to back both established businesses ready for a buy-and-build strategy and high-growth vehicles needing foundation capital.

MBF concentrates solely on healthcare services, with stated focus areas including provider-based services, payor services, and managed care. The firm's published materials do not reference medical devices, biopharma, health IT, or other healthcare subsectors outside services—suggesting a deliberate avoidance of non-services healthcare verticals.

The founding partners invest their own capital in every deal, which the firm describes as creating better alignment, an intense focus on execution, and more creative investment structures than traditional commingled funds. This principal-capital model means the founding trio has direct personal exposure alongside institutional limited partners and portfolio-company management teams.

MBF's public materials do not disclose any affiliated philanthropic foundation or charitable vehicle. The firm's website focuses exclusively on its private equity strategy within healthcare services, with no mention of impact-investing mandates or mission-related investment programs.