John K. Carlyle Elected Chairman of Pediatrix
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 5, 2003--The Board of Directors of Pediatrix Medical Group (NYSE:PDX) has elected John K. Carlyle as non-executive Chairman of the Board. His election as Chairman is part of Pediatrix's previously-announced efforts to enhance corporate governance.
Roger J. Medel, M.D., founder of Pediatrix, retains the titles of President and Chief Executive Officer.
"This change in the board's structure creates an environment that further strengthens the oversight role of the Board of Directors," said Mr. Carlyle. "I look forward to assuming these new responsibilities as the principal liaison between the board of directors and Pediatrix management."
"We have an excellent and strong corporate and regional management team in place at Pediatrix, and this change at the Board level has no impact on the day-to-day operations of Pediatrix," said Dr. Medel. "John has been a valued contributor to Pediatrix, and we will benefit from his strong healthcare services background."
Mr. Carlyle, 48, has served as a member of Pediatrix's Board of Directors for two years. He was Chief Executive Officer of Magella Healthcare Corporation from 1998 until Magella was acquired by Pediatrix in May 2001.
From 1990 through 1997 Mr. Carlyle served as President, Chief Executive Officer and Chairman of Concentra Managed Care, Inc., formerly OccuSystems, Inc., a health care services and cost-containment company focused on workers' compensation and occupational health care. He was Senior Vice President, Chief Financial Officer of Medical Care International, Inc., operators of outpatient surgery centers, from 1986 through 1990.
Mr. Carlyle serves on the Board of Directors of Odyssey Healthcare, Inc., National Surgical Care, Concentra Managed Care, Inc., and IC Langford Systems.
Pediatrix was founded in 1979. Its neonatal physicians provide services at more than 200 NICUs, and through Obstetrix, its perinatal physicians provide services in many markets where Pediatrix's neonatal physicians practice. Combined, Pediatrix and its affiliated professional corporations employ more than 625 physicians in 30 states and Puerto Rico. Additional information is available on the Internet at http://www.pediatrix.com.
Matters discussed in this release may include forward-looking statements within the meaning of the securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Pediatrix intends, expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions and assessments made by Pediatrix'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 relevant. Any forward-looking statement is not a guarantee of future performance and is subject to various risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statement. Such risks and uncertainties include, among others: pending and future billing and other investigations by government authorities; Pediatrix's ability to comply with laws and regulations applicable to the healthcare industry; limitations of, reductions in or retroactive adjustments to reimbursement amounts or rates by government-sponsored healthcare programs; whether physicians appropriately record the services they provide; Pediatrix's ability to find suitable acquisition candidates and to successfully integrate future or recent acquisitions; laws protecting the privacy of patient healthcare information; federal and state healthcare reform or changes in government-sponsored healthcare programs; Pediatrix's ability to successfully recruit and retain qualified physicians; malpractice and other lawsuits; the value of Pediatrix's intangible assets, such as goodwill; Pediatrix's ability to manage growth; fluctuations in quarterly results; and competition in the healthcare industry.
Pediatrix more fully describes these and other risk factors in its Annual Report on Form 10-K for the year ended December 31, 2002, filed with the Securities and Exchange Commission. Any forward-looking statements in this press release are made as of the date hereof based on management's current beliefs and expectations and Pediatrix has no obligation to update and revise any such statements, whether as a result of new developments, information or otherwise.
CONTACT: Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, Investor Relations, 954/384-0175, x-5300