FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 29, 2014--
MEDNAX, Inc. (NYSE: MD) today announced the signing of a definitive
agreement to acquire The NEXus Medical Group, LLC and its subsidiary,
Meridian Anesthesia Consultants, LLC in Macon, Georgia.
As part of this transaction, 64 full-time anesthesia providers (15
anesthesiologists and 49 anesthetists) and six other clinical and
administrative staff will become part of MEDNAX’s American
Anesthesiology division, serving as an integrated physician group
The NEXus Medical Group was established in 2003 and provides anesthesia
services across a wide spectrum of subspecialty areas including general
surgery, orthopedics, cardiac, obstetric, neurosurgery (including spine)
and acute pain management at Medical Center, Navicent Health (formerly
the Medical Center of Central Georgia) and its ambulatory surgery
center. NEXus, through its subsidiary, Meridian Anesthesia Consultants,
also provides services to the Georgia Neurological Institute, another
ambulatory surgery center.
“Becoming part of MEDNAX offers us a variety of advantages. We can
maintain our group’s culture and autonomy, and when it comes to rapidly
changing demands in a post-reform healthcare environment, such as payor
negotiations, billing and benchmarking, we now have the support of a
national medical group,” said Alvin Sewell, M.D., who will serve as
medical director for the practice. “We also look forward to having
access to data collected and evaluated at a national level, and being
part of the collaborative research, education and quality initiatives we
need to maintain successful operations and achieve the best possible
Medical Center, Navicent Health is a designated Level I Trauma Center
with 637 inpatient beds and is one of 42 twice-designated Magnet®
hospitals for nursing excellence nationwide. It is the second largest
hospital in Georgia. MEDNAX’s Pediatrix Medical Group division has been
providing neonatology services at the hospital since 2005.
“Our partnership with MEDNAX builds upon our commitment to providing the
highest quality, patient-centered care,” said President and CEO Dr.
Ninfa M. Saunders, Navicent Health.
“By offering coordinated and integrated clinical care to patients, we
can achieve optimized efficiencies, a better patient experience and
improved outcomes,” added Chief Clinical Officer at Navicent Health,
Fady Wanna, M.D.
MEDNAX’s American Anesthesiology division consists of more than 2,225
anesthesia providers, including more than 925 physicians and 1,300
anesthetists practicing in 13 states.
This is a cash transaction, and it is expected to be immediately
accretive to earnings upon closing, which is scheduled for October 31,
2014 subject to normal closing conditions. No additional terms of the
transaction were disclosed.
With this acquisition, nine physician group practices have become part
of MEDNAX in 2014, seven as part of American Anesthesiology, and two as
part of Pediatrix Medical Group.
MEDNAX, Inc. is a national medical group that comprises the nation's
leading providers of neonatal, anesthesia, maternal-fetal and pediatric
subspecialty services. The Company is reshaping the delivery of care
within its 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 division of MEDNAX, was founded in 1979 and includes
neonatal physicians who provide services at more than 360 neonatal
intensive care units, and collaborate with affiliated maternal-fetal
medicine, pediatric cardiology, pediatric critical care and physician
subspecialists to provide a clinical care continuum. Pediatrix is also
the nation's largest provider of newborn hearing screens. American
Anesthesiology, a division of MEDNAX, was established in 2007 and
includes more than 2,225 anesthesiologists and advanced practitioners
who provide anesthesia care to patients in connection with surgical and
other procedures as well as pain management. MEDNAX, through its
affiliated professional corporations, employs approximately 2,575
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 within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements 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.
Charles Lynch, 954-384-0175, x 5692
President, Strategy and Investor Relations