FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 1, 2014--
MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Cross River
Anesthesiologist Services, P.C., a private physician group practice
based in Kingston, 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.
Cross River Anesthesiologist Services was established in 1992 and
employs 22 full-time anesthesia providers (14 anesthesiologists and 8
anesthetists) who provide services across a wide spectrum of
subspecialty areas at Northern Dutchess Hospital, HealthAlliance of the
Hudson Valley including its Broadway, Mary’s Avenue and Margaretville
hospitals, as well as Kingston Ambulatory Surgical Center and five
office-based locations throughout Hudson Valley. The practice’s
anesthesia services include general surgery, orthopedic, obstetric,
gynecological, vascular and ear, nose and throat (ENT).
“We look forward to joining a national medical group of more than 2,000
anesthesia providers, many of whom are leaders in clinical research,
education and quality initiatives,” said Michael Moses, M.D., who will
serve as medical director for the practice. “It’s comforting to know
that with American Anesthesiology we can continue to focus on patient
satisfaction and outcomes as we have for more than 20 years, even as
healthcare reform makes office processes like billing, credentialing and
compliance more complex in the coming years.”
MEDNAX’s American Anesthesiology division consists of more than 2,000
anesthesia providers, including more than 850 physicians and 1,150
anesthetists practicing in Florida, Georgia, Maryland, 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, five physician group practices have become part
of MEDNAX in 2014, four 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, anesthesia, maternal-fetal and pediatric
physician subspecialty 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 360 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 2,000 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 2,400 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.
Charles Lynch, 954-384-0175, Ext. 5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com