FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 7, 2013--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Dayton
Newborn Care Specialists, Inc., a neonatal physician group practice
based in Dayton, Ohio. 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.
Established in 2006, Dayton Newborn Care Specialists is a private
practice that consists of three neonatologists and one pediatrician, who
provide a wide spectrum of services, including neonatal intensive care,
labor and delivery, newborn nursery, and maternal consults at Dayton
Children’s Hospital, a Level III, 41-bed neonatal intensive care unit
(NICU), Springfield Regional Medical Center, a Level II NICU, as well as
services at nine other hospitals in the greater Dayton metropolitan area.
“We can only foresee positive outcomes from uniting with Pediatrix,
including more time focused on caring for Dayton’s most critical
newborns, as we have done for nearly 20 years,” said M. David Yohannan,
M.D., who will serve as medical director for the practice. “We knew
change would be inevitable if we were going to manage the challenges
ahead in the uncertain healthcare environment. Being part of Pediatrix
will provide us with the support we need for the business operations of
our practice, such as billing, compliance, credentialing and recruiting,
as well important research, education and quality initiatives.”
Pediatrix Medical Group currently provides NICU services at Miami Valley
Hospital, which earlier this year joined with Dayton Children’s Hospital
to form the Southwest Ohio Neonatal Collaborative. The purpose of the
collaborative is to elevate the quality of care and strengthen the
health care delivery system for mothers and babies by drawing on the
expertise of the two regional high-risk centers.
“Dr. Yohannan and the neonatology team at Dayton Newborn Care
Specialists have been an important part of the success of our regional
level III NICU. We are pleased they will continue to provide the highest
level of care to the critically ill newborns here at Dayton Children’s
as part of Pediatrix Medical Group,” stated Deborah Feldman, president
and CEO of Dayton Children’s Hospital. “We know the emphasis Pediatrix
places on driving clinical research, quality, education and improved
outcomes is parallel to ours and will only serve to enrich the mission
of Dayton Children’s and the Southwest Ohio Neonatal Collaborative.”
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.
With this acquisition, nine physician group practices have become part
of MEDNAX in 2013, four as part of Pediatrix Medical Group, and five as
part of American Anesthesiology.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's
leading providers 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 330 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 1,700
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 2,200 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, x 5020
Chief
Financial Officer/Treasurer
vivian_lopezblanco@mednax.com