In a release, the company noted event details:

What: Metropolitan Health Networks Third Quarter 2009 Results Conference Call

When: Thursday, November 5, 11 a.m. Eastern

Web cast address:

http://www.streetevents.com, http://www.fulldisclosure.com

Dial-in Numbers: (888) 679-8035 (domestic) or (617) 213-4848 (international), pass code # 84390127

Contact:

Al Palombo, Cameron Associates, (212) 554-5488 or al@cameronassoc.com

Participants may pre-register for the call at:

https://www.theconferencingservice.com/prereg/key.process?key=PGYE6TQCE

Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

If you are unable to participate, an audio replay of the call will be available beginning two hours after the call and will be available until 11:59 p.m. on November 12, by dialing (888) 286-8010 (domestic) or (617) 801-6888 (international) using confirmation pass code 66911284.

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-- operating income excluding the impact of the sale of the HMO was $3.4 million for the three months ended September 30, 2009 compared to $2.3 million in the prior year period;

-- revenue for the nine months ended September 30, 2009, of $265.7 million, a 12.0% increase from the same period in 2008;

-- operating income excluding the impact of the sale of the HMO was $14.4 million for the nine months ended September 30, 2009 compared to $7.4 million in 2008;

-- a 7.1% increase in total customer months for the nine months ended September 30, 2009 compared to the same period in 2008; and

-- the repurchase of 11.2 million shares since October 6, 2008.

Third Quarter Financial Highlights:

The company recognized revenue of $88.1 million for the third quarter as compared to $78.9 million in the 2008 third quarter, an 11.6% increase. Operating income before gain on sale of HMO of $3.4 million for the three months ended September 30, 2009, compared to $662,000 for the same period in 2008. Included in operating income before gain on sale of the HMO for the third quarter of 2008 were one-time stay bonuses and termination costs, related to the sale, of $1.6 million. Net income for the 2009 third quarter was $2.4 million or $0.05 per share, basic and diluted, as compared to $4.3 million or $0.08 per share, basic and diluted for the same quarter last year. Excluding the gain on the sale of the HMO and related stay bonuses, net income for the three months ended September 30, 2008, would have been $1.7 million or $0.03 per diluted share.

The company's medical expense ratio ("MER") was 91.3% in the third quarter of 2009 compared to 90.2% in the same quarter of 2008. Operating expenses dropped 39.8% from $7.0 million in the third quarter of 2008 to $4.2 million in the same period in 2009, primarily the result of the reduction in administrative costs resulting from the sale of the Company's HMO in August 2008.

Nine Months Year to Date Financial Highlights:

For the nine months ended September 30, 2009, the company's revenue totaled $265.7 million compared to $237.2 million in the prior year period, an increase of 12.0%. Operating income before gain on sale of HMO for the nine months ended September 30, 2009, increased to $14.4 million, compared to $5.9 million for the same nine months ended September 30, 2008. Included in operating income before gain on sale of the HMO for the nine months ended September 30, 2008, were one-time stay bonuses and termination costs, related to the sale, of $1.6 million. Net income was $9.6 million compared to $7.6 million for the same period of 2008. Earnings per share were $0.21 per basic share and $0.20 per diluted share, compared to $0.15 per basic share and $0.14 per diluted share for the nine months ended September 30, 2009 and 2008, respectively. Excluding the gain on the sale of the HMO and related stay bonuses, net income for the nine months ended September 30, 2008, would have been $5.1 million or $0.10 per diluted share.

The company's MER was 89.7% in the first nine months of 2009 compared to 88.4% in the first nine months of 2008. Operating expenses dropped 39.5% from $21.6 million in the first nine months of 2008 to $13.0 million in the same period in 2009, primarily the result of the reduction in administrative costs resulting from the sale of the Company's HMO.

Customer Information:

The total number of Medicare Advantage customers served by the company increased by 2,700 between September 2008 and September 2009 to 35,800. With the sale of the HMO and the new provider risk agreement reached late in the third quarter of 2008 with Humana in the 13 HMO counties, all of our customers are in the core PSN business. Total customer months, the combined total customers for each month of the measurement period, increased by 7.1% to 318,300 in the first nine months of 2009, up from 297,300 in the 2008 period.

Balance Sheet Highlights:

Cash, cash equivalents and investments at September 30, 2009, was approximately $37.2 million. This compares to $36.3 million at December 31, 2008. The Company had a working capital surplus of approximately $32.2 million at September 30, 2009, compared to a surplus of approximately $34.5 million as of December 31, 2008. The Company's total stockholders' equity was approximately $42.0 million at September 30, 2009 and total common shares outstanding at that date totaled 43.0 million.

Share Repurchase Program:

On August 3, 2009, the Company's Board of Directors approved a 5 million share increase to its previously announced share repurchase program bringing the total number of shares of common stock authorized for repurchase under the program to 15 million shares. Through September 30, 2009 the Company has repurchased 10.5 million shares of its common stock at an average cost of $1.81 per share. Shares repurchased as of November 2, 2009 totaled approximately 11.2 million. With the increased authorization, approximately 3.8 million shares are currently available for purchase under the plan. The number of shares to be repurchased and the timing of the purchases will be influenced by a number of factors, including the then prevailing market price of the common stock of the Company, other perceived opportunities that may become available to the Company, and regulatory requirements.

Michael Earley, Chairman and Chief Executive Officer of Metropolitan Health Networks, Inc., commented, "2009 continues to be a very good year for our business, with continued growth in terms of customers, revenues and earnings. Our operations and balance sheet remain strong and we are well-positioned to face the challenges and opportunities that confront our business, and most health care companies in the future."

Earley continued, "We continue to believe that providing and coordinating care for people with Medicare will remain a good and growing business that is demographically driven. Aside from our positive results, we have made important strides in positioning our company for the future with initiatives such as e-prescribing, electronic medical records, and the now much-discussed Patient Centered Medical Home primary care operating model. We recently submitted applications to secure NCQA ("National Committee for Quality Assurance") accreditation as Patient Centered Medical Homes for ten of our owned medical practices. We believe that these and other similar investments will allow us to deliver more effective and efficient care to our customers, in a customer-centric environment. We also believe that these strategies are indeed consistent with real health care reform."

Conference Call Information:

Metropolitan Health Networks will hold a conference call to review its third quarter 2009 results on Thursday, November 5, 2009 at 11:00 a.m. Eastern. The call will be hosted by Michael Earley, Chairman and Chief Executive Officer. Interested parties may access the conference call by dialing the following numbers: (888) 679-8035 (domestic) or 617-213-4848 (international), pass code # 84390127. The call will also be available via web cast at www.metcare.com, http://www.streetevents.com, http://www.fulldisclosure.com.

Participants may pre-register for the call at https://www.theconferencingservice.com/prereg/key.process?key=PGYE6TQCE. Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

If you are unable to participate, an audio replay of the call will be available beginning two hours after the call and will be available until 11:59 p.m. on November 12, 2009, by dialing (888) 286-8010 (domestic) or (617) 801-6888 (international) using confirmation pass code 66911284.

About Metropolitan Health Networks, Inc.:

Metropolitan is a growing healthcare organization that provides comprehensive healthcare services for Medicare Advantage members and other patients in Florida. To learn more about Metropolitan Health Networks, Inc. please visit its website at www.metcare.com.

Forward Looking Statements:

Except for historical matters contained herein, statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.

Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, (i) our ability to meet our cost projections under various provider agreements with Humana; (ii) our failure to accurately estimate incurred but not reported medical benefits expense; (iii) pricing pressures exerted on us by managed care organizations and the level of payments we indirectly receive under governmental programs or from other payors; (iv) future legislation and changes in governmental regulations; (v) the impact of Medicare Risk Adjustments on payments we receive for our managed care operations; (vi) a loss of any of our significant contracts or our ability to increase the number of Medicare eligible patient lives we manage under these contracts. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2008, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009, which is anticipated to be filed within several business days.

METROPOLITAN HEALTH NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
ASSETS                                                                                     September 30       December 31,
                                                                                           (unaudited)        2008
CURRENT ASSETS
             Cash and equivalents                                                          $      5,163,330   $      2,701,243
             Investments, at fair value                                                           32,029,904         33,641,140
             Accounts receivable, net                                                             712,459            286,003
             Due from Humana                                                                      -                  2,823,355
             Inventory                                                                            181,214            315,811
             Prepaid expenses                                                                     632,654            570,792
             Deferred income taxes                                                                599,296            262,874
             Other current assets                                                                 119,350            266,007
                                               TOTAL CURRENT ASSETS                               39,438,207         40,867,225
PROPERTY AND EQUIPMENT, net                                                                       1,623,529          1,336,094
RESTRICTED CASH                                                                                   1,413,528          1,408,089
DEFERRED INCOME TAXES                                                                             1,159,293          980,842
OTHER INTANGIBLE ASSETS, net                                                                      1,027,223          1,184,142
GOODWILL, net                                                                                     4,362,332          2,587,332
OTHER ASSETS                                                                                      774,474            780,631
                                               TOTAL ASSETS                                $      49,798,586  $      49,144,355
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
             Accounts payable                                                              $      451,619     $      483,621
             Due to Humana                                                                        3,776,123          -
             Accrued payroll and payroll taxes                                                    1,300,594          2,288,224
             Income taxes payable                                                                 729,762            1,865,926
             Current portion of long term debt                                                    318,182            -
             Accrued termination costs of HMO administrative services agreement                   -                  1,080,000
             Accrued expenses                                                                     634,691            621,854
                                               TOTAL CURRENT LIABILITIES                          7,210,971          6,339,625
LONG-TERM DEBT, net of current portion                                                            556,818            -
TOTAL LIABILITIES                                                                                 7,767,789          6,339,625
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
             Preferred stock, par value $.001 per share; stated value $100 per
             share;
             10,000,000 shares authorized; 5,000 issued and outstanding                           500,000            500,000
             Common stock, par value $.001 per share; 80,000,000 shares
             authorized;
             42,987,000 and 48,251,000 issued and outstanding at September 30,                    42,987             48,251
             2009 and December 31, 2008, respectively
             Additional paid-in capital                                                           27,267,735         37,649,331
             Retained earnings                                                                    14,220,075         4,607,148
                                               TOTAL STOCKHOLDERS' EQUITY                         42,030,797         42,804,730
                                               TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $      49,798,586  $      49,144,355

METROPOLITAN HEALTH NETWORKS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                                        Nine Months Ended September 30,               Three Months Ended September 30,
                                                        2009                   2008                   2009                  2008
                                                        (unaudited)            (unaudited)            (unaudited)           (unaudited)
REVENUE                                                 $    265,655,152       $    237,175,320       $    88,138,389       $    78,949,785
MEDICAL EXPENSE
              Medical claims expense                         227,399,839            200,522,906            76,929,010            68,072,724
              Medical center costs                           10,795,722             9,247,512              3,582,353             3,175,606
Total Medical Expense                                        238,195,561            209,770,418            80,511,363            71,248,330
GROSS PROFIT                                                 27,459,591             27,404,902             7,627,026             7,701,455
OPERATING EXPENSES
              Payroll, payroll taxes and benefits            7,413,908              9,911,209              2,252,490             2,897,108
              General and administrative                     5,431,880              8,306,534              1,863,853             2,405,884
              Marketing and advertising                      202,092                1,739,459              118,334               138,932
              Stay bonuses and termination costs             -                      1,597,674              -                     1,597,674
Total Operating Expenses                                     13,047,880             21,554,876             4,234,677             7,039,598
OPERATING INCOME BEFORE GAIN ON SALE OF HMO SUBSIDIARY       14,411,711             5,850,026              3,392,349             661,857
              Gain on sale of HMO subsidiary                 811,470                5,797,769              366,470               5,797,769
OPERATING INCOME                                             15,223,181             11,647,795             3,758,819             6,459,626
OTHER INCOME (EXPENSE)
              Investment income, net                         351,301                254,547                85,838                28,630
              Other income (expense)                         (6,592      )          (16,805     )          (6,081     )          (10,388    )
Total other income (expense)                                 344,709                237,742                79,757                18,242
INCOME BEFORE INCOME TAX EXPENSE                             15,567,890             11,885,537             3,838,576             6,477,868
INCOME TAX EXPENSE                                           5,954,963              4,250,590              1,412,095             2,209,542
NET INCOME                                              $    9,612,927         $    7,634,947         $    2,426,481        $    4,268,326
NET EARNINGS PER COMMON SHARE
              Basic                                     $    0.21              $    0.15              $    0.05             $    0.08
              Diluted                                   $    0.20              $    0.14              $    0.05             $    0.08

SOURCE: Metropolitan Health Networks, Inc.

Metropolitan Health Networks, Inc., West Palm Beach 
Michael Earley, Chief Executive Officer, 561-805-8500 
mearley@metcare.com 
or 
Cameron Associates 
Al Palombo, Investor Relations, 212-245-8800 Ext. 209 
al@cameronassoc.com

Participants may pre-register for the call at:

https://www.theconferencingservice.com/prereg/key.process?key=PGYE6TQCE

Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

If you are unable to participate, an audio replay of the call will be available beginning two hours after the call and will be available until 11:59 p.m. on November 12, 2009, by dialing (888) 286-8010 (domestic) or (617) 801-6888 (international) using confirmation pass code 66911284.

About Metropolitan Health Networks, Inc.:

Metropolitan is a growing healthcare organization in Florida that provides comprehensive healthcare services for Medicare Advantage members and other patients in Florida. To learn more about Metropolitan Health Networks, Inc. please visit its website at www.metcare.com.

SOURCE: Metropolitan Health Networks, Inc.

Metropolitan Health Networks 
Chairman & CEO 
Michael Earley, 561-805-8500 
mearley@metcare.com 
or 
Cameron Associates -- Investor Relations 
Al Palombo, 212-554-5488 
Al@cameronassoc.com