MEDNAX Announces the Acquisition of Practices in San Antonio, TX and
FORT LAUDERDALE, Fla., Apr 01, 2011 (BUSINESS WIRE) --
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of three separate physician group practices based in San Antonio, TX and Miami, FL, as well as the expansion of new services in Topeka, KS.
Center for Maternal Fetal Care, P.A., consists of two maternal-fetal medicine physicians and four clinical support staff who provide care to expectant mothers, including the management of high-risk and complicated pregnancies, throughout the greater San Antonio, TX area. Center for Maternal Fetal Care has one primary office location and a long-term relationship with Santa Rosa Hospital-City Centre in San Antonio, TX.
"With the uncertainty that exists in today's healthcare environment, we believe that becoming part of a national physician group will provide us with a high level of support for the future growth of our practice while enabling us to continue providing the best possible care for patients in the local community," said Kenneth Higby, M.D., who will serve as Pediatrix's medical director for the practice. "As part of Pediatrix, we also look forward to being able to collaborate with other maternal-fetal physicians across the country to share clinical knowledge to help further improve outcomes and provide the highest quality care for our patients and their families."
MEDNAX announced the acquisition of a solo pediatric cardiology practitioner that joins Pediatrix's existing group of pediatric cardiologists in Miami, FL who serve patients in communities throughout Miami-Dade County.
Separately, MEDNAX also announced the acquisition of Good Night Pediatrics, P.A., a pediatric after-hours clinic located in San Antonio, TX. Pediatric after-hours clinics complement a patient's primary care physician while providing a more cost-effective and specialized alternative to urgent care centers and emergency departments. Good Night Pediatrics is the first pediatric after-hours clinic to join MEDNAX's network.
MEDNAX also announced the start of pediatric critical care physician services at Stormont-Vail Healthcare in Topeka, KS. Through a previous physician group practice acquisition, neonatologists who are part of MEDNAX's Pediatrix Medical Group division already provide care for infants in the neonatal intensive care unit (NICU) at Stormont-Vail Healthcare.
The physicians joining as a result of these transactions will practice as part of MEDNAX's Pediatrix Medical Group, a national medical group consisting of the nation's leading neonatal, maternal-fetal medicine, pediatric cardiology, and other pediatric specialty physicians.
MEDNAX paid cash for the practices acquired, and the transactions are expected to be immediately accretive to its earnings. No additional terms of the transactions were disclosed.
MEDNAX, Inc., is a national medical group that comprises the nation's leading provider 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 300 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, the Company expanded into anesthesia services. Today, American Anesthesiology includes more than 700 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,650 physicians in 33 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 which 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 couldcause 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.
Bob Kneeley, 954-384-0175, x-5300
Vice President, Investor Relations