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Metropolitan Health Networks Reports 2008 Second Quarter Results
Date:8/5/2008

arley

Metropolitan Health Networks

Chief Executive Officer

(561) 805-8500

mearley@metcare.com

Al Palombo

Cameron Associates

Investor Relations

(212) 245-8800 Ext. 209

al@cameronassoc.com

Financial Tables to Follow

METROPOLITAN HEALTH NETWORKS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30, December 31,

2008 2007

ASSETS (unaudited)

CURRENT ASSETS

Cash and equivalents, including

$14.8 million in 2008 and $13.0 million

in 2007 statutorily limited to use

by the HMO $37,523,151 $38,682,186

Accounts receivable, net 239,210 1,563,370

Due from Humana 5,434,152 -

Inventory 289,192 196,154

Prepaid expenses 1,332,214 739,307

Assets of HMO subsidiary held for sale,

excluding cash of $14.8 million 3,466,410 -

Deferred income taxes 1,118,887 2,905,755

Other current assets 76,371 676,980

TOTAL CURRENT ASSETS 49,479,587 44,763,752

PROPERTY AND EQUIPMENT, net 1,363,890 2,181,119

INVESTMENT 688,997 688,997

GOODWILL, net 2,587,332 2,585,857

DEFERRED INCOME TAXES 1,200,000 1,403,082

OTHER INTANGIBLE ASSETS, net 1,36
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SOURCE Metropolitan Health Networks, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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