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In April of 2014, MIMC entered into a Development and Management Agreement with Nueterra Equity Partners, LLC (now called Nuehealth Equity Partners). The contract was signed by the same person for MIMC, Nueterra, and Miami Hospital Holdings. The agreement put Neuterra in charge of most aspects of managing the hospital business, from marketing to human resources to information systems. At an October 2015 meeting the Board of Managers approved a $1.5 million development fee for Nueterra Equity for "the time allocated by Nueterra staff and resources on site and behind the scenes to the successful completion of the project." This was on top of the reimbursement of all of Nueterra Equity's expenses.
In the MIMC bankruptcy, Nueterra Equity claimed it was owed $5,666,316.01 from MIMC - $1.5 million for "Development Fee," $3,040,452.01 for "Management Services", and $1,125,864.00 for "Payroll Advance Expenses". |