FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Mar. 4, 2014--
MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Piedmont
Neonatology, P.C., a private neonatal physician group practice based in
Greensboro, N.C. The practice will become part of MEDNAX’s Pediatrix
Medical Group division, a national group practice consisting of the
nation’s leading neonatal, maternal-fetal medicine, pediatric
cardiology, and other pediatric specialty physicians.
Piedmont Neonatology consists of six neonatologists who provide a wide
spectrum of services including neonatal intensive care; delivery room;
and maternal, newborn nursery and emergency department consults at Cone
Health Women's Hospital. Physicians at Piedmont Neonatology have been
providing services at Women’s Hospital for more than 20 years. Women’s
Hospital is the first free-standing hospital in North Carolina dedicated
to the care of women and newborns and has a Level III, 36-bed neonatal
intensive care unit (NICU). The practice will also begin providing
neonatal intensive care services at Alamance Regional Medical Center,
beginning on July 1.
“Joining a national group practice was especially appealing as we began
to see the impact of healthcare reform on physician groups. Becoming
part of Pediatrix Medical Group will reduce our administrative burden
and provide leadership in clinical research, education and quality so
that we can further develop innovative approaches to neonatal care and
enhance the services we provide,” said McCrae Smith, M.D., who will
serve as corporate medical director for the practice. “We also look
forward to continuing our work with the Perinatal Quality Collaborative
of North Carolina and other groups to focus on patient outcomes and
increase the value of perinatal healthcare in the state.”
The practice was acquired for cash and the transaction is expected to be
immediately accretive to earnings. No additional terms of the
transaction were disclosed.
ABOUT MEDNAX
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 1,925 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 2,350 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
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.
MEDNAX, Inc.
Vivian Lopez-Blanco, 954-384-0175, Ext. 5020
Chief
Financial Officer/Treasurer
vivian_lopezblanco@mednax.com