Company makes first anesthesia practice acquisition in the state
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 8, 2016--
MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Associated
Anesthesiologists of Reno, P.C., a private physician group practice
based in Reno, Nev., adding anesthesia to the company’s footprint of
pediatric and other specialty services in the state.
Associated Anesthesiologists of Reno, established in 1949, is the
largest anesthesia practice in Northern Nevada. The practice provides
anesthesia care across a wide spectrum of subspecialty areas, including
orthopedic, obstetric, pediatric and cardiac and critical care.
Associated Anesthesiologists of Reno employs 56 (49 full-time and 7
part-time) anesthesiologists and is the exclusive provider of services
to Renown Regional Medical Center, an 808 bed facility and the only
children’s hospital and emergency room in the region. The practice also
provides services to Nevada Medical Center, Carson Valley Medical Center
and various ambulatory surgical centers throughout the region.
“We wanted to join a national organization that truly understands the
importance of hospital partnerships, and one whose culture and
commitment to delivering the highest quality patient care parallels our
own,” said Matthew Hoberg, M.D., who will serve as medical director for
the practice. “In addition, having access to a national network of
research, education and quality initiatives will enhance our efforts to
expand our evidence-based best practices as well as our quality and
performance improvement programs to directly benefit the patients we
serve in our community.”
This acquisition adds to the services MEDNAX provides in Nevada across
multiple specialties which include neonatology, pediatric intensive
care, pediatric emergency, pediatric hospitalist, hearing screen and
radiology services.
This was a cash transaction, and it is expected to be immediately
accretive to earnings. No additional terms of the transaction were
disclosed.
With this acquisition, nine physician group practices have become part
of MEDNAX in 2016.
ABOUT MEDNAX
MEDNAX, Inc. is a national health solutions partner comprised of the
nation's leading providers of physician 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, clinical research
and telemedicine to enhance patient outcomes and provide high-quality,
cost-effective care. The Company was founded in 1979, and today, through
its affiliated professional corporations, MEDNAX provides services
through a network of more than 3,400 physicians in all 50 states and
Puerto Rico. In addition to its national physician network, MEDNAX
provides services to healthcare facilities and physicians in over 40
states through two complementary businesses, consisting of a revenue
cycle management company and a consulting services company. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160808005087/en/
Source: MEDNAX, Inc.
MEDNAX, Inc.
Charles Lynch, 954-384-0175, x 5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com