FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 28, 2009--
MEDNAX, Inc., (NYSE:MD) today announced the acquisition of a neonatal
group based in Covington, Louisiana, consisting of two physicians who
provide neonatal intensive care and well-baby care at St. Tammany Parish
Hospital. The hospital’s Level III neonatal intensive care unit (NICU)
has annual patient volume in excess of 2,500 patient days.
The physicians will practice as part of MEDNAX’s Pediatrix Medical
Group, a national medical group consisting of the nation’s leading
neonatal, maternal-fetal medicine and pediatric cardiology physician
The two physicians made the decision to join Pediatrix because of its
commitment and devotion of resources to improving patient care and
outcomes. The physicians look forward to the opportunity to enhance the
level of care they provide to their patients in the NICU by working in a
collaborative environment, where they will have access to evidence-based
outcomes, continuing education, and clinical quality programs.
MEDNAX paid cash for the practice, and the transaction is expected to be
immediately accretive to its earnings. No additional terms of the
transaction were disclosed.
With this acquisition, MEDNAX has completed nine physician group
practice acquisitions during 2009.
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 250 neonatal intensive care units, who collaborate
with affiliated maternal-fetal medicine, pediatric cardiology and
pediatric intensivist 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 450
anesthesiologists and advanced practitioners. MEDNAX, through its
affiliated professional corporations, employs more than 1,400 physicians
in 33 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
Source: MEDNAX, Inc.
MEDNAX, Inc., Fort Lauderdale
Bob Kneeley, Director, Investor
Relations, 954-384-0175, Ext. 5300