American Anesthesiology division enters two new states
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jul. 31, 2014--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Associated
Anesthesiologists of Joliet, S.C., a private physician group practice
based in Joliet, Ill., and its related entities: Madison Avenue
Anesthesia Placement Services, LLC, Crawford Avenue Anesthesia Placement
Services, LLC and Pain Centers of Chicago, LLC.
At closing, 85 full-time anesthesia providers (37 anesthesiologists and
48 anesthetists) and 12 other clinical and administrative staff will
become part of MEDNAX’s American Anesthesiology division, and serve as
one integrated practice providing care in Southern Illinois and Northern
Indiana. This marks the division’s entry into these two states.
Associated Anesthesiologists of Joliet was established in 1971 and later
formed three related entities that together provide anesthesia services
across a wide spectrum of subspecialty areas including general surgery,
cardiac, neurosurgery (including spine), orthopedic, obstetrics and
acute and chronic pain management at 12 locations. These include two
Methodist Hospitals and a related ambulatory surgery center, as well as
four Presence Health hospitals and a related ambulatory surgery center
and pain center. Presence Health is the largest Catholic health system
in Illinois, and its flagship hospital in Joliet has the fifth largest
surgical volume in the state.
“Becoming part of a national medical group was essential for the future
of our practice as hospital needs and data requirements rapidly change
in this new era of healthcare reform,” said Ronald Hayes, M.D., who will
serve as medical director for the practice. “American Anesthesiology’s
back-office support and expertise in credentialing, nationally-sourced
recruiting and other crucial business needs, combined with the company’s
leadership in research, education and quality initiatives, will give us
the opportunity to grow and most importantly, to positively impact
patient outcomes and patient satisfaction.”
MEDNAX’s American Anesthesiology division consists of more than 2,150
anesthesia providers, including more than 900 physicians and 1,250
anesthetists practicing in 12 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, seven physician group practices have become part
of MEDNAX in 2014, six as part of American Anesthesiology, and one as
part of Pediatrix Medical Group.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group that comprises the nation's
leading providers of neonatal, anesthesia, maternal-fetal and pediatric
medical and surgical subspecialty services. The Company is reshaping the
delivery of care within its 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 division of MEDNAX, was
founded in 1979 and includes neonatal physicians who provide services at
more than 360 neonatal intensive care units, and collaborate with
affiliated maternal-fetal medicine, pediatric cardiology, pediatric
critical care and physician subspecialists to provide a clinical care
continuum. Pediatrix is also the nation's largest provider of newborn
hearing screens. American Anesthesiology, a division of MEDNAX, was
established in 2007 and includes more than 2,150 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 approximately 2,500 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
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historical facts, that address activities, events or developments that
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the future. These statements are often characterized by terminology such
as “believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”,
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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, x 5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com