MEDNAX Announces the Acquisition of St. Louis, MO Maternal-Fetal
FORT LAUDERDALE, Fla., Oct 03, 2011 (BUSINESS WIRE) --
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of a maternal-fetal medicine physician group practice based in St. Louis, MO.
Midwest Maternal-Fetal Medicine, L.L.C., consists of six maternal-fetal medicine physicians and 15 clinical and administrative support staff who provide care to expectant mothers, including the management of high-risk and complicated pregnancies, throughout the greater St. Louis, MO area. Midwest Maternal-Fetal Medicine has long-term relationships with three large area hospitals, including Mercy Hospital St. Louis, St. Luke's Hospital and St. Anthony's Medical Center.
"By aligning ourselves with Pediatrix we believe that our practice will have a strong platform for future growth that will enable us to further build out the clinical and administrative support necessary for the increasing demand of high-risk pregnancy care required by our patients and their families," said Gilbert Webb, M.D., who will serve as Pediatrix's medical director for the practice. "We view this partnership as an opportunity to enhance our quality improvement initiatives, share clinical outcome data and best practices, and have a greater role in advancing healthcare while achieving the best possible outcomes for our patients."
The physicians joining as a result of this transaction 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.
The practice was acquired for cash and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transaction were disclosed.
With this acquisition, six physician group practices have become part of Pediatrix Medical Group and one physician group practice has become part of American Anesthesiology during 2011.
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 750 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,700 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 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 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.
David Parker, 954-384-0175, x-5300
Vice President, Investor Relations & Corporate Communications