FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sep. 28, 2017--
MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Jefferson
Radiology, PC and Jefferson Imaging Associates, LLC based in Hartford,
Conn. This partnership meaningfully expands MEDNAX’s radiology services
and further establishes MEDNAX as the partner of choice for leading
radiology practices and radiology physician services by combining
physician excellence with world-class technological capabilities.
Established in 1963, Jefferson Radiology is the largest private
radiology group in Connecticut. Comprised of 60 physicians, the practice
offers a full spectrum of diagnostic imaging and interventional services
at 10 outpatient centers in Hartford County. In addition, the practice
is the exclusive provider of radiology services to seven regional
hospitals, including Hartford Hospital, Windham Hospital, Connecticut
Children’s Medical Center, Day Kimball Healthcare, Griffin Hospital,
Holyoke Medical Center and Baystate Noble Hospital.
“We are excited about the growth of radiology physician services at
MEDNAX and our ability to attract leading radiology providers such as
Jefferson Radiology, further enhancing our integrated physician services
offering,” said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX.
“The world-class technological capabilities MEDNAX offers through vRad,
combined with our own practice-management expertise and
physician-centric leadership, make us a valuable partner to radiology
practices. We see many exciting opportunities with Jefferson Radiology,
particularly given the group’s longstanding leadership position in the
field and its strategic partnerships with several key regional
The majority of Jefferson radiologists are highly subspecialized, and
they provide a full breadth of subspecialty services including: body
imaging, breast imaging, chest imaging, interventional and vascular
radiology, musculoskeletal imaging, onco-radiology, neuro-interventional
radiology, neuroradiology and head and neck imaging, nuclear medicine
and pediatric imaging.
“We were drawn to the energy and excitement of MEDNAX’S mission to build
the top radiology platform nationally and beyond, and wanted to be part
of a team that is leading the best practices in radiology and reshaping
the next generation of how radiology services will be delivered,” said
Ethan Foxman, M.D., Ph.D., President and CEO of Jefferson Radiology. “It
was a natural fit to partner with MEDNAX whose platform will support the
total radiology value chain in ways previously unimaginable by even the
most developed regional radiology practices like Jefferson Radiology.”
This marks the third radiology services practice acquisition in 2017.
Upon completion of the transaction, MEDNAX’s affiliated radiologists
will read nearly nine million studies annually.
This was a cash transaction and it is expected to be immediately
accretive to earnings. No additional terms of the transaction were
With this acquisition, eight physician group practices have become part
of MEDNAX in 2017.
MEDNAX, Inc. is a national health solutions partner based in Sunrise,
Fla. 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
3,850 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170928005241/en/
Source: MEDNAX, Inc.
Charles Lynch, 954-384-0175 ext. 5692
President, Strategy and Investor Relations