FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 2, 2017--
MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Palm Beach
Pediatric Urology, PA, a private pediatric urology physician practice
based in Palm Beach, Fla.
Established in 2000, Palm Beach Pediatric Urology employs two
physicians, one nurse practitioner, three medical assistants and 12
non-clinical associates. The practice provides consults for all
pediatric and fetal genitourinary disorders; bladder, kidney and
genitalia reconstructive and corrective surgery; cystoscopy;
circumcision; ultrasound; and urinalysis services to children. Palm
Beach Pediatric Urology has five patient offices and provides services
to seven regional hospitals, including Boca Raton Regional Hospital,
West Boca Medical Center, Bethesda Hospital East, St. Mary’s Medical
Center, Palms West Hospital, Jupiter Medical Center and Lawnwood
Regional Medical Center.
“I greatly respect the MEDNAX national network as I have had the unique
pleasure of watching the Company grow from its early beginnings at many
of the local hospitals I’ve been on staff at for the past 22 years,”
said Charles E. Flack, M.D., who will serve as medical director for the
practice. “As the premier group providing pediatric urologic care in six
counties, this partnership will allow Palm Beach Pediatric Urology to
continue to flourish and hopefully set a new standard of services for
this niche subspecialty in Florida and beyond.”
This acquisition adds to the services MEDNAX provides in Florida through
its affiliated network of physicians across multiple specialties which
include anesthesiology, maternal-fetal medicine, neonatology, newborn
hearing screens, obstetric hospitalist, pediatric cardiology, pediatric
hospitalist, pediatric intensive care, pediatric surgery and radiology.
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, nine physician group practices have become part
of MEDNAX in 2017.
ABOUT MEDNAX
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
Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171002005346/en/
Source: MEDNAX, Inc.
MEDNAX, Inc.
Charles Lynch, 954-384-0175, ext. 5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com