FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sep. 11, 2013--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Northern
Westchester Anesthesia Services, P.C. (NWAS), a physician group practice
primarily based in Mt. Kisco, New York. The practice, which was acquired
by one of the company's affiliated professional contractors in New York,
will become part of MEDNAX’s American Anesthesiology division and is the
second New York-based anesthesiology practice to join this division.
Established in 2003, NWAS is a private group practice that employs 16
anesthesiologists and 9 anesthetists providing anesthesia services
across a wide spectrum of subspecialty areas to Northern Westchester
Hospital, Westchester Health Associates, The Institute of Aesthetic
Surgery and Medicine at Northern Westchester Hospital, and Westchester
Bronx OB/GYN at its Bronx and Yonkers locations. Services include, but
are not limited to, neurosurgery (including spine), pediatric,
obstetric, gynecological, thoracic, general surgery, reconstructive
surgery, orthopedic surgery, minimally invasive robotic surgery, as well
as acute pain management services.
Through the practice’s partnership with Northern Westchester Hospital,
NWAS is part of the LifeWings Patient Safety Initiative, a comprehensive
program designed to ensure that a "culture of safety" exists throughout
the entire perioperative process. The program, a critical component to
improving patient outcomes, encompasses the same principles found in
High Reliability Organizations (HROs), such as those in the aerospace
and aviation industries. American Anesthesiology has already implemented
a similar patient safety program at its Atlanta-based practice, and has
plans to roll out the program in other practices.
“Our practice’s mission is aligned with that of American Anesthesiology,
therefore our ability to focus on delivering the highest quality care to
our patients will be supported by their established infrastructure as we
face the changing healthcare environment together,” said David Miller,
M.D., who will serve as medical director for the practice. “Further, our
clinical focus on achieving better patient outcomes will only be
enhanced by our participation in American Anesthesiology’s innovative
research, education and quality initiatives.”
MEDNAX’s American Anesthesiology division consists of more than 1,700
anesthesia providers, including more than 700 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, eight physician group practices have become part
of MEDNAX in 2013, five as part of American Anesthesiology, and three 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 1,700
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 2,200 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