FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 21, 2012--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of South
Oakland Anesthesia Associates, P.C., a physician group practice that
provides anesthesia care and pain management services at three
hospitals, four ambulatory surgery centers, one eye center, and four
pain management centers throughout Oakland, Wayne and Macomb counties in
Michigan. The practice will become part of MEDNAX’s American
Anesthesiology division and is the first Michigan-based practice to join
the division, which now consists of 16 practices throughout eight states.
South Oakland Anesthesia Associates was established in 1967 and is a
private group practice that employs 73 anesthesiologists that provide
services across a wide spectrum of subspecialty areas, including
orthopaedic, neurosurgical, pediatric, obstetric, cardiac, trauma, and
critical care as well as acute and chronic pain medicine. The physicians
practice in the anesthesia care-team model, which includes both
residents and anesthetists.
“We are looking forward to partnering with a national group practice
that will provide us with the resources we need to expand our services,
and continue improving the quality of care we provide our patients,”
said Rhonda Marvar, M.D., who will serve as medical director for the
American Anesthesiology practice. “We believe American Anesthesiology’s
research, education and clinical initiatives, along with its back-office
infrastructure and administrative support will provide us with long-term
stability in an uncertain healthcare environment.”
South Oakland physicians serve as the faculty for the Beaumont Health
System residency program in anesthesiology. The fully accredited
residency program consists of 24 residents over four years. The
department’s demonstrated focus on teaching and research is well-aligned
with MEDNAX’s commitment to leadership in clinical quality, research and
education.
“Being part of a national medical group practice offers collaborative
opportunities to develop and exchange best practices that will
positively impact patient care,” said James D. Grant, M.D. who serves as
the health system chair for the Department of Anesthesiology at Beaumont
Health System.
The physicians joining as a result of this transaction will now be part
of MEDNAX’s American Anesthesiology division, which consists of more
than 1,350 anesthesia providers, including more than 570 physicians and
780 anesthetists practicing in North Carolina, Florida, Georgia,
Michigan, New Jersey, Tennessee, Texas, Virginia and, with
administrative offices in Sunrise, Fla. and Raleigh, N.C.
This practice was acquired for cash and the transaction is expected to
be immediately accretive to earnings. No additional terms of the
transactions were disclosed.
With this acquisition, 14 physician group practices have become part of
MEDNAX in 2012, seven as part of American Anesthesiology, and seven as
part of Pediatrix Medical Group.
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, MEDNAX expanded into anesthesia
services. Today, American Anesthesiology includes more than 1,350
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 more than 1,975 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
Exchange Commission.
Source: MEDNAX, Inc.
MEDNAX, Inc.
David T. Parker, 954-384-0175, x 5300
Vice
President, Investor Relations & Corporate Communications
david_parker@mednax.com