Expands Continuum of Women's and Newborn Care in Houston Market
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 20, 2014--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Houston
Perinatal Associates, P.A., a private physician group practice based in
Houston, Texas. The practice will become part of MEDNAX’s Pediatrix
Medical Group division.
Established in 1994, Houston Perinatal Associates consists of four
physicians and 30 other clinical and administrative staff who provide
comprehensive high-risk maternal-fetal medicine services at The Woman’s
Hospital of Texas and 10 satellite perinatal clinics. The practice
provides services including obstetrics and delivery, ultrasounds,
prenatal diagnosis, medical and surgical complications of pregnancy, as
well as the management of multiple gestations. In addition, the practice
provides maternal-fetal medicine services to three Houston metropolitan
area hospitals and one surgery center, as well as telemedicine services
to patients in Lufkin, Texas.
This acquisition extends MEDNAX’s ability to provide a continuum of care
in the Houston market, including neonatal, perinatal, pediatric
cardiology, pediatric hospitalist and anesthesia services. It also
enhances the services MEDNAX provides at The Woman’s Hospital of Texas,
which include perinatal care, neonatal care at the hospital's Level II
and Level III neonatal intensive care units, pediatric cardiology and,
through MEDNAX's American Anesthesiology division, anesthesia services.
“As a physician-led national medical group, MEDNAX will allow us to
maintain our clinical autonomy while supporting the growth of our
practice and improving office efficiencies in a changing healthcare
environment,” said Brian Kirshon, M.D., who will serve as medical
director for the practice. “We look forward to collaborating with
clinicians across the country on high-risk maternal-fetal care, and to
being part of the research, education and quality initiatives that are
the foundation of the company.”
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, eight physician group practices have become part
of MEDNAX in 2014, two as part of Pediatrix Medical Group and six as
part of American Anesthesiology.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group that comprises the nation's
leading providers of neonatal, anesthesia, maternal-fetal and pediatric
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 more than 2,550 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.
Charles Lynch, 954-384-0175, x-5692
Vice
President, Strategy and Investor Relations
charles_lynch@mednax.com