MEDNAX Announces the Acquisition of Idaho-Based Neonatal Practice
The practice consists of two physicians who staff the Level III neonatal intensive care unit (NICU) at Eastern Idaho Regional Medical Center, as well as two area hospitals in the Southeast Idaho region. Annual NICU patient volume at Eastern Idaho Regional Medical Center exceeds 4,000 patient days.
The physicians will practice as part of MEDNAX's Pediatrix Medical Group, a national group practice that consists of the nation's leading neonatal, maternal-fetal medicine and pediatric cardiology physicians.
"As the only neonatal practice in southeastern Idaho, we want to bring Pediatrix's advancements in clinical information and the resources of a national group to the patients in our community as the region continues to grow in the coming years," said Shannon Jenkins, D.O., who will serve as Pediatrix's medical director for the practice. "Through this partnership, we will have the opportunity to further improve patient outcomes and provide cutting-edge care by participating in continuing medical education programs and clinical quality initiatives, and by sharing information with colleagues throughout the country."
MEDNAX paid cash for the practice, and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transactions were disclosed.
With this acquisition, MEDNAX has completed three neonatal physician group practice acquisitions in 2010.
MEDNAX, Inc., is a national medical group that comprises the nation's leading provider 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 275 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric intensivist physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation's largest provider of newborn hearing screens. In 2007, the Company expanded into anesthesia services. Today, American Anesthesiology includes more than 550 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,450 physicians in 33 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 which 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 couldcause 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.
Bob Kneeley, Director, Investor Relations, 954-384-0175 Ext. 5300