FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 4, 2016--
MEDNAX, Inc. (NYSE: MD), today announced the acquisition, effective Dec.
31, 2015, of Professional Anesthesia Associates, PC, a private physician
group practice based in Jackson, Tenn.
Professional Anesthesia Associates, PC, which has provided anesthesia
services in the Jackson market for more than 25 years, employs 10
full-time clinicians (9 anesthesiologists and 1 anesthetist). The
practice provides services at Jackson Madison County General Hospital
(JMCGH), a 635-bed tertiary care center that serves a 17-county area in
rural West Tennessee, and is the only tertiary care center between
Memphis and Nashville. In addition, the practice provides services at
the hospital’s West Tennessee Surgery Center and Skyline Endoscopy
Center as well as at Physicians Surgery Center. The practice’s
anesthesia services include general anesthesia, orthopedic, obstetric,
gynecologic, urologic, and ear, nose and throat (ENT).
“Faced with the challenges of today’s health care environment, we
were looking to partner with a national medical group with an
established footprint in the region and a proven track record of
successful practice management,” said Todd Seabrook, M.D., who will
serve as medical director for the practice. “MEDNAX provides that, as
well as leadership in clinical quality initiatives, research and
education that enhances our efforts to focus on data-driven solutions
and value-based care that meets the needs of our partners, exceeds
patient expectations and further positions our practice as an anesthesia
leader in West Tennessee.”
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, 10 physician group practices became part of
MEDNAX in 2015. In addition, MEDNAX completed two non-practice
acquisitions. The total purchase price for the 12 acquisitions was over
$850 million, consisting of closing cash and contingent consideration,
MEDNAX's highest level of annual acquisition spend to date.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's
leading providers of physician 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, clinical research and
telemedicine to enhance patient outcomes and provide high-quality,
cost-effective care. The Company was founded in 1979, and today, through
its affiliated professional corporations, MEDNAX provides services
through a network of more than 3,200 physicians in all 50 states and
Puerto Rico. In addition to its national physician network, MEDNAX
provides services to healthcare facilities and physicians in over 40
states through two complementary businesses, consisting of a revenue
cycle management company and a consulting services company. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160104005231/en/
Source: MEDNAX, Inc.
MEDNAX, Inc.
Charles Lynch, 954-384-0175, x 5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com