FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 19, 2011--
American Anesthesiology, a division of MEDNAX, Inc., (NYSE: MD) today
announced the acquisition of Burlington Anesthesia Associates (BAA), a
physician group practice that provides anesthesia services in Mt. Holly,
NJ.
Burlington Anesthesia Associates is the first New Jersey-based group
practice to join American Anesthesiology. The practice consists of 17
anesthesiologists, who practice as part of an Anesthesia Care Team model
that includes 25 Certified Registered Nurse Anesthetists (CRNAs). BAA
provides anesthesia services at Virtua Memorial Hospital, in Mt. Holly,
Virtua Memorial Ambulatory Surgery Center and various other out-patient
clinics and surgery centers.
“There were several factors that went into our decision to become a part
of American Anesthesiology,” said Richard Gargiulo, M.D., who will serve
as medical director of the American Anesthesiology practice. “As we look
forward into the changing face of healthcare, it was important for us to
partner with a proven national group model that supports the growth of
our longstanding practice and brings the resources necessary to provide
stability as we focus on what we do best, take care of our patients. Our
talented group of physicians can now focus on helping to shape the
future of anesthesiology by focusing on better patient care through
clinical quality improvement, research and education. Ultimately this
will advance the care that we provide to our patients and local
community.”
Today, American Anesthesiology has more than 850 anesthesia providers,
including more than 400 physicians and 500 CRNAs and anesthesia
assistants practicing in North and South Carolina, Virginia, Georgia,
Florida, Texas, and New Jersey, with administrative offices in Sunrise,
FL and Raleigh, NC.
MEDNAX paid cash for the practice, and the transaction is expected to be
immediately accretive to its earnings. No additional terms of the
transactions were disclosed.
With this acquisition, three physician group practices have become part
of American Anesthesiology and seven physician group practices have
become part of Pediatrix Medical Group during 2011.
ABOUT MEDNAX
MEDNAX, Inc., is a national medical group that comprises the nation's
leading provider of neonatal, maternal-fetal and pediatric physician
subspecialty services as well as anesthesia services. Physicians and
advanced practitioners practicing as part of MEDNAX are reshaping the
delivery of care within their specialties and subspecialties, using
evidence-based tools, continuous quality initiatives and clinical
research to enhance patient outcomes and provide high-quality,
cost-effective care. Pediatrix Medical Group, a unit of MEDNAX, was
founded in 1979 and now includes neonatal physicians who provide
services at more than 300 neonatal intensive care units, who collaborate
with affiliated maternal-fetal medicine, pediatric cardiology and
pediatric critical care physician subspecialists to provide a clinical
care continuum. Pediatrix is also the nation's largest provider of
newborn hearing screens. In 2007, the Company expanded into anesthesia
services. Today, American Anesthesiology includes more than 900
anesthesia providers, including more than 375 physicians and 475
Certified Registered Nurse Anesthetists (CRNAs) and anesthesia
assistants that provide comprehensive surgical anesthesia, acute and
chronic pain, and critical care services in hospitals, surgery centers
and physician offices. MEDNAX, through its affiliated professional
corporations, employs more than 1,800 physicians in 34 states and Puerto
Rico. Additional information is available at www.mednax.com.
Certain statements and information in this press release may be
deemed to contain forward-looking statements which may include, but are
not limited to, statements relating to our objectives, plans and
strategies, and all statements, other than statements of historical
facts, that address activities, events or developments that we intend,
expect, project, believe or anticipate will or may occur in the future.
These statements are often characterized by terminology such as
"believe", "hope", "may", "anticipate", "should", "intend", "plan",
"will", "expect", "estimate", "project", "positioned", "strategy" and
similar expressions, and are based on assumptions and assessments made
by MEDNAX's management in light of their experience and their perception
of historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Any forward-looking
statements in this press release are made as of the date hereof, and
MEDNAX undertakes no duty to update or revise any such statements,
whether as a result of new information, future events or otherwise.
Forward-looking statements are not guarantees of future performance and
are subject to risks and uncertainties. Important factors that could
cause actual results, developments, and business decisions to differ
materially from forward-looking statements are described in MEDNAX's
most recent Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q, including the sections entitled "Risk Factors", as well MEDNAX's
current reports on Form 8-K,filed with the Securities and Exchange
Commission.
Source: MEDNAX, Inc.
MEDNAX, Inc.
David Parker, 954-384-0175, x-5300
Vice
President, Corporate Communications and Investor Relations
david_parker@mednax.com