FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

FROST PHILLIP MD ET AL 		2. Issuer Name and Ticker or Trading Symbol

CONTINUCARE CORP [ CNU ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

4400 BISCAYNE BOULEVARD 		3. Date of Earliest Transaction (MM/DD/YYYY)

10/4/2011
(Street)

MIAMI, FL 33137
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   10/4/2011     M    25000   A $5.23   425000   D    
Common Stock   10/4/2011     M    25000   A $1.78   450000   D    
Common Stock   10/4/2011     M    25000   A $4.06   475000   D    
Common Stock   10/4/2011     M    25000   A $2.97   500000   D    
Common Stock   10/4/2011     M    20000   A $2.42   520000   D    
Common Stock   10/4/2011     M    25000   A $2.48   545000   D    
Common Stock   10/4/2011     M    20000   A $1.35   565000   D    
Common Stock   10/4/2011     D    565000   D   (1) 0   D    
Common Stock   10/4/2011     D    24771604   D   (1) 0   I   Frost Gamma Investments Trust   (2)
Common Stock   10/4/2011     D    819313   D   (1) 0   I   Frost Nevada Investments Trust   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)   $5.23   10/4/2011     M         25000      (4) 2/24/2021   Common Stock, par value $.0001   25000   $ 0   0   D    
Stock Option (Right to Buy)   $1.78   10/4/2011     M         25000      (4) 3/12/2019   Common Stock, par value $.0001   25000   $ 0   0   D    
Stock Option (Right to Buy)   $4.06   10/4/2011     M         25000      (4) 2/9/2020   Common Stock, par value $.0001   25000   $ 0   0   D    
Stock Option (Right to Buy)   $2.97   10/4/2011     M         25000      (4) 2/7/2017   Common Stock, par value $.0001   25000   $ 0   0   D    
Stock Option (Right to Buy)   $2.42   10/4/2011     M         20000      (4) 12/6/2015   Common Stock, par value $.0001   20000   $ 0   0   D    
Stock Option (Right to Buy)   $2.48   10/4/2011     M         25000      (4) 2/5/2018   Common Stock, par value $.0001   25000   $ 0   0   D    
Stock Option (Right to Buy)   $1.35   10/4/2011     M         20000      (4) 8/24/2014   Common Stock, par value $.0001   20000   $ 0   0   D    

Explanation of Responses:
( 1)  Disposed of pursuant to an Agreement and Plan of Merger, dated June 26, 2011, by and among Continucare Corporation, Metropolitan Health Networks, Inc. ("Metropolitan") and Cab Merger Sub, Inc., a wholly owned subsidiary of Metropolitan (the "Merger Agreement"), in exchange for $6.25 in cash, without interest, and 0.0414 of a share of Metropolitan common stock.
( 2)  These securities are held by Frost Gamma Investments Trust, of which Phillip Frost, M.D. is the trustee and Frost Gamma Limited Partnership is the sole and exclusive beneficiary. Phillip Frost, M.D. is one of two limited partners of Frost Gamma Limited Partnership. The general partner of Frost Gamma Limited Partnership is Frost Gamma, Inc., and the sole shareholder of Frost Gamma, Inc. is Frost?Nevada Corporation. Phillip Frost, M.D., is also the sole shareholder of Frost?Nevada Corporation.
( 3)  These securities are held by Frost Nevada Investments Trust, of which Phillip Frost, M.D. is the trustee and Frost?Nevada Limited Partnership is the sole and exclusive beneficiary. Phillip Frost, M.D., is one of five limited partners of Frost?Nevada Limited Partnership and the sole shareholder of Frost?Nevada Corporation, the sole general partner of Frost?Nevada Limited Partnership.
( 4)  These options were immediately exercisable on the grant date.

Remarks:
Exhibit 99.1 Joint Filer Information
Exhibit 99.2 Joint Filer Information

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
FROST PHILLIP MD ET AL
4400 BISCAYNE BOULEVARD
MIAMI, FL 33137 		X X

Frost Gamma Investments Trust
4400 BISCAYNE BOULEVARD
MIAMI, FL 33137
X

Frost Nevada Investments Trust
4400 BISCAYNE BOULEVARD
MIAMI, FL 33137
X


Signatures
/s/ Phillip Frost, M.D., Individually and as Trustee of Frost Gamma Investments Trust and Frost Nevada Investments Trust 10/6/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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