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MEDNAX Announces Acquisition of Anesthesiology Practice in Tennessee

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 5, 2015-- MEDNAX, Inc., (NYSE: MD) today announced the acquisition, effective December 31, 2014, of Metropolitan Anesthesia Alliance, PLLC, a private physician group practice based in Memphis, Tenn. The practice will become part of MEDNAX’s American Anesthesiology division and represents the Company's fourth anesthesiology practice acquisition in Tennessee.

Metropolitan Anesthesia Alliance was established in 2001 following the merger of Affiliated Anesthesiologists, Medical Center Anesthesiologists and Anesthesia Specialists of Tennessee. The practice employs 73 full-time anesthesia providers (27 anesthesiologists and 46 anesthetists) at several Baptist Memorial Health Care hospitals and ambulatory surgery centers, as well as four office-based clinics throughout the Memphis metropolitan area. Baptist Memorial Health Care is the largest health care system in the Mid-South.

The practice’s anesthesia services include general surgery, cardiac, vascular, orthopedic, neurosurgery (including spine), obstetric, pediatric and acute pain management.

“In an era of increasing bureaucracy, shrinking reimbursement and growing quality and performance expectations, our practice needed the support of a national medical group,” said Rodger Funderburg, M.D., who will serve as medical director for the practice. “Access to American Anesthesiology’s research, education, quality and patient safety initiatives, as well as the Quantum Clinical Navigation System™, will help us provide better care to our patients and further solidify our relationships with our hospital partners as the healthcare industry evolves and becomes more complex.”

MEDNAX’s American Anesthesiology division consists of more than 2,350 anesthesia providers, including more than 950 physicians and 1,400 anesthetists practicing in 13 states.

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 and a one-physician pediatric cardiology practice in Tennessee, also acquired during the fourth quarter, 11 physician group practices became part of MEDNAX in 2014, eight as part of American Anesthesiology, and three as part of Pediatrix Medical Group. In addition, MEDNAX completed two non-practice acquisitions. The total purchase price for the 13 acquisitions completed during 2014 was over $490 million, consisting of closing cash and contingent consideration, MEDNAX's highest level of annual acquisition spend to date.


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 2,350 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 2,625 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, x 5692
Vice President, Strategy and Investor Relations