UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                            Current Report pursuant
                         to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

       Date of report (Date of earliest event reported): October 16, 2006

                       METROPOLITAN HEALTH NETWORKS, INC.
             (Exact name of registrant as specified in its charter)

                                    Florida
                 (State or other jurisdiction of incorporation)

        0-28456                                     65-0635748
(Commission file number)               (I.R.S. Employer Identification No.)


                     250 Australian Avenue South, Suite 400
                            West Palm Beach, FL 33401
          (Address of principal executive offices, including zip code)

                                 (561) 805-8500
              (Registrant's telephone number, including area code)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)
|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))
|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))




Section 1 - Registrant's Business and Operations

Item  1.01 Entry into a Material Definitive Agreement

      On October 18, 2006,  Metropolitan  Health Networks,  Inc. (the "Company")
announced  the  appointment  of Mr.  Robert  J.  Sabo to the  position  of Chief
Financial  Officer.  Mr.  Sabo is  expected  to join the Company in that role on
November 9, 2006.

      Mr.  Sabo  has  entered  into an  Employment  Agreement  (the  "Employment
Agreement")  with the Company,  effective as of November 9, 2006. The Employment
Agreement  has an initial term of one year and is  automatically  renewable  for
successive one-year terms, unless terminated in accordance with the terms of the
agreement.  The  Employment  Agreement  provides  for an annual  base  salary of
$250,000 and the  Company's  Compensation  Committee  and Board of Directors has
approved a grant of 200,000 options to purchase common stock to be issued to Mr.
Sabo upon commencement of his employment with the Company. The options will vest
over four years and have an exercise  price  equal to the  closing  price of the
Company's common stock on the American Stock Exchange on November 8, 2006.

      The  Employment  Agreement  provides  for an  automobile  allowance in the
amount of $800 per month, a telephone allowance in the amount of $250 per month,
four  weeks of  vacation,  participation  in all  benefit  plans  offered by the
Company to its executives and the reimbursement of reasonable business expenses.

      Either party may  terminate the  Employment  Agreement at any time. In the
event that Mr. Sabo (i) is terminated by the Company without cause, (ii) dies or
becomes disabled or (iii) terminates his employment for good reason,  he will be
entitled to  reimbursement of all  unreimbursed  expenses  incurred prior to the
date of  termination,  payment of unused  vacation  days and payment of his then
annual  base  salary  and  benefits  for a  period  of one  year  following  the
termination.

      The Employment  Agreement also contains  non-disclosure,  non-solicitation
and non-compete restrictions.  The non-solicitation and non-compete restrictions
survive for a period of two years and one year, respectively, following the date
of the termination of Mr. Sabo's employment with the Company.

      The foregoing  description of the Employment Agreement is qualified in its
entirety by reference to such agreement,  filed as Exhibit 10.1 hereto, which is
hereby incorporated by reference herein.


Section 5 - Corporate Governance and Management

Item  5.02 Departure of Directors or Principal Officers;  Election of Directors;
           Appointment of Principal Officers.

      As anticipated,  on October 16, 2006, the Company accepted the resignation
of David S. Gartner from his role as the Company's Chief Financial Officer.  The
resignation was tendered pursuant to the Transition and Severance  Agreement the
Company  entered  into with Mr.  Gartner on August 18,  2006.  The  Company  has
appointed Mr.  Michael  Earley,  its Chief  Executive  Officer,  to serve as the
acting Chief Financial  Officer until Mr. Sabo commences his employment with the
Company.



      From  November,  2003 to October,  2006, Mr. Sabo, 55, served as the Chief
Financial  Officer of Hospital  Partners of America  ("HPA"),  a privately  held
healthcare  services  company.  At HPA, Mr. Sabo was involved in the  successful
completion of several  hospital  acquisitions  that led to the  operational  and
financial  growth of HPA. Prior to joining HPA, Mr. Sabo was employed by Ernst &
Young for over 30 years in a variety of positions.  Most recently, from January,
1999 until June,  2003, Mr. Sabo served as the Market Leader for Ernst & Young's
Health  Science  Practice in both North Carolina and South  Carolina.  From 1985
until  1998,  Mr.  Sabo  served as a Partner  at Ernst & Young  where he led the
Managed  Care  Practice for the State of Florida.  Mr.  Sabo's  experience  with
health care related practices includes,  among others,  serving as audit partner
for publicly and privately held companies, assisting clients with accounting and
securities  reporting  issues,   implementing  Sarbanes  Oxley  regulations  and
preparing annual and quarterly financial reports.

      Please see Item 1.01 "Entry into a Material  Definitive  Agreement" above,
incorporated herein by reference, for a description of the material terms of Mr.
Sabo's Employment Agreement with the Company.

      A press  release  announcing  the  appointment  of the Company's new Chief
Financial  Officer and Mr.  Gartner's  resignation is attached hereto as Exhibit
99.1 and incorporated herein by reference.


Section 9 - Financial Statements and Exhibits

      Item 9.01 Financial Statements and Exhibits

            (d) Exhibits


            10.1 Employment  Agreement,  made and entered into as of November 9,
2006, by and between Robert J. Sabo and Metropolitan Health Networks, Inc.

            99.1 Press Release dated October 18, 2006




                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

Date: October 20, 2006

                                        METROPOLITAN HEALTH NETWORKS, INC.


                                        By: /s/ Roberto Palenzuela
                                            -----------------------------
                                            Roberto Palenzuela
                                            Secretary and General Counsel