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MEDNAX Announces Acquisition of Anesthesiology Practice in New York

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.


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

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.

Charles Lynch, 954-384-0175, Ext. 5692
Vice President, Strategy and Investor Relations