American Anesthesiology Division Makes Entry into Ninth State
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jun. 11, 2013--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Anesthesia
Group of Onondaga, P.C., a physician group practice based in Syracuse,
New York, to MEDNAX’s American Anesthesiology division. The practice,
which was acquired by one of the company's affiliated professional
contractors in New York, is the first New York-based anesthesiology
practice to join the division, which now consists of 20 practices
throughout nine states.
Anesthesia Group of Onondaga is a private group practice that employs 20
anesthesiologists, 22 anesthetists and four other clinical and
administrative staff. The practice provides services across a wide
spectrum of subspecialty areas, including critical care, orthopedics,
cardiac, obstetrics, pediatrics and acute pain management and has been
the sole provider of anesthesia services to St. Joseph’s Hospital Health
Center since 1975. Anesthesia Group of Onondaga also provides services
to the hospital’s affiliated surgery centers, Northeast Surgery Center
and North Medical Surgery Center.
“We believe that American Anesthesiology’s core values of commitment to
quality of care, research and education and patient satisfaction are
very much aligned with our own,” said Ralph Firestone, M.D., who will
serve as medical director for the American Anesthesiology practice. “We
found in them a partner that offered superior clinical expertise as well
as business and administrative infrastructure to positively impact our
practice and most importantly, our patient outcomes, which is essential
in today’s uncertain healthcare environment.”
MEDNAX’s American Anesthesiology division consists of more than 1,650
anesthesia providers, including more than 675 physicians and 975
anesthetists practicing in Florida, Georgia, Michigan, New Jersey, New
York, North Carolina, Tennessee, Texas, and Virginia.
MEDNAX’s Pediatrix Medical Group division currently provides neonatal
intensive care services at St. Joseph’s Hospital.
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, four physician group practices have become part
of MEDNAX in 2013, three as part of American Anesthesiology, and one 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 1,650
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 2,175 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