FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Apr. 1, 2009--
MEDNAX, Inc., (NYSE: MD) today announced that it has completed two
separate physician group practice acquisitions, a neonatal group
practice based in the Hampton Roads region of Virginia, and a pediatric
cardiology practice serving patients in El Paso, Texas.
The physicians joining as a result of both transactions will practice as
part of MEDNAX’s Pediatrix Medical Group, a national medical group that
encompasses the nation’s leading neonatal, maternal-fetal medicine and
pediatric cardiology physician group practice.
Hampton Roads Neonatology, PLC, includes three physicians and six nurse
practitioners who staff the Level III neonatal intensive care unit
(NICU) and well-baby nursery at Riverside Regional Medical Center in
Newport News, Virginia. Annual patient volume is approximately 7,000
NICU patient days and 8,000 newborn nursery patient days.
“Our practice has grown as we’ve supported an expanding labor and
delivery program in our community,” said Adel Abdallah, M.D., who has
been practicing at Riverside since 1994, and will serve as Pediatrix’s
medical director at Riverside Regional. “We look forward to practicing
as part of Pediatrix as a way to take our practice to the next level.
Our physicians are excited about participating in clinical quality and
research programs that are now available to us as part of Pediatrix.”
Physicians practicing as part of Pediatrix Medical Group contribute to
the world’s largest neonatal outcomes database, which now has more than
10 million daily progress notes from more than half a million patients.
The database is used to drive clinical research, continuing education
and continuous quality improvement initiatives across the national group
Separately, MEDNAX announced that it had completed the acquisition of
Schuster Heart Center, P.A., a pediatric cardiology practice based in El
Paso, Texas, effective February 27.
Jeffrey D. Schuster, M.D., is the founder and sole physician in the
practice, which provides a range of cardiology services to pediatric
patients, as well as fetal echocardiography services to patients
throughout El Paso. Dr. Shuster has been providing patient care services
in El Paso since 1990.
MEDNAX paid cash for the practices, which are expected to contribute
immediately to the Company’s earnings. No additional terms of the
transaction were disclosed.
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 1,250 physicians
in 32 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.
Bob Kneeley, 954-384-0175, x-5300