💥New Chapter 11 Bankruptcy - MBMG Holding LLC💥

Business reminiscent of Cano Health (and CareMax) files to pursue a sale.

Back on October 13, 2024, Miami-based MBMG Holding LLC and 15 affiliates (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the Southern District of Florida (Judge Lopez-Castro) — a venue that’s been getting increased traction over the last year or so. The debtors provide healthcare services to 35k patients across 26 primary care centers in Florida, half of those in Miami-Dade County, according to the first-day declaration of CRO Nicholas Campbell, managing partner and co-founder of Meru LLC (“Meru”), the debtors’ financial advisor. Founded in ‘97 as Miami Beach Medical Group, the debtors fell into the clutches of private equity in ‘16, when Gauge Capital (“Gauge”) bought a controlling stake.