FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 2, 2014--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Summit
Anesthesia Associates, P.A., a physician group practice primarily based
in Summit, New Jersey. The practice will become part of MEDNAX’s
American Anesthesiology division and is the second New Jersey-based
anesthesiology practice to join this division.
Established in 1993, Summit Anesthesia Associates is a private group
practice that employs 37 anesthesiologists, eight anesthetists and three
other clinical and administrative staff, providing anesthesia services
across a wide spectrum of subspecialty areas at Overlook Medical Center
as well as at several ambulatory and radiology centers. Services
include, but are not limited to, neurosurgery (including spine),
pediatric, obstetric, gynecological, orthopedic, cosmetic, general
surgery and acute pain management.
“Joining American Anesthesiology is a great fit for us, both clinically
and culturally because our goals are very much aligned,” said Glen
Paris, M.D., who will serve as medical director for the practice.
“American Anesthesiology’s clinical research, education and quality
initiatives will serve to further support the high quality care we have
provided our patients for more than 20 years. And, the stability of a
national medical group with a reputation for strong back-office
infrastructure and efficiencies will enhance our business operations, as
our country’s healthcare environment continues to become more complex.”
MEDNAX’s American Anesthesiology division consists of more than 1,750
anesthesia providers, including more than 750 physicians and 1,000
anesthetists practicing in Florida, Georgia, Michigan, New Jersey, New
York, North Carolina, Tennessee, Texas, and Virginia.
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, 11 physician group practices have become part of
MEDNAX in 2013, six as part of American Anesthesiology, and five as part
of Pediatrix Medical Group.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's
leading providers 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 330 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 1,750
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 2,250 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.
Vivian Lopez-Blanco, 954-384-0175, x 5020
Chief
Financial Officer/Treasurer
vivian_lopezblanco@mednax.com