Metropolitan Health Networks, Inc. and PRIMUS Physician Services, Inc. Terminate Acquisition Plans

Business Wire, Oct 16, 1998

BOCA RATON, Fla.--(BUSINESS WIRE)--Oct. 16, 1998--Metropolitan Health Networks, Inc. (Nasdaq:MDPA) (Metropolitan) and PRIMUS Physician Services, Inc. of Miami, announced today that the parties have jointly decided to no longer pursue an acquisition of Primus by METCARE, as announced on August 19, 1998.

Headquartered in Boca Raton, Metropolitan Health Networks, Inc. provides primary and specialized healthcare. The Company's fundamental strategy is to develop the dominant integrated group practice and network management company in each of the regions in which it operates, beginning with the South Florida market, providing medical treatment and ancillary services to patients, and management services to the medical community.

Certain statements contained in this news release which are not based on historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to uncertainties and risks including, but not limited to, the demand for this Company's products and services, economic and competitive conditions, cost of providing medical services versus payment received for capitated contracts, integration of acquired operations, difficulty in controlling healthcare cost, negative effects of prospective healthcare reform, the availability of appropriate acquisition candidates, the Company's ability to close on its letters of intent and/or contracts, access to borrowed or equity capital on favorable terms for the funding of operations, obligations and acquisitions, and other risks detailed in the Company's Securities and Exchange Commission filings that may cause actual results to materially differ from projections. Although Metropolitan Health Networks, Inc. believes its expectations are reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from their expectations.