FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Mar. 29, 2012--
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of three
practices formerly part of Children’s Specialists Medical Group of
Sacramento, Inc. (CSMGS) based in Sacramento, Calif.
The acquisition of these three subspecialty practices within CSMGS
includes neonatology, perinatology and pediatric critical care practices
which brings 9 neonatologists, 4 perinatologists and 6 pediatric
intensivists, as well as 17 other staff members (associate, clinical and
administrative) to MEDNAX’s Pediatrix Medical Group division. All of the
acquired practices are affiliated with Sutter Memorial Hospital and
Sutter Roseville Medical Center.
CSMGS, as a group, has provided high quality care for patients in the
Sacramento area since 1995 in hospital, clinical and office settings,
with a dedicated commitment to the community. Its physicians and
clinicians were pioneers of the Neonatal Advanced Life Support (NALS)
program for transports that has since been emulated throughout
California and other western states and were the first in Northern
California to practice the extracorporeal membrane oxygenation (ECMO)
technique in children. The annual NICU patient volume exceeds 22,000
patient days.
“We carefully evaluated our long term options for providing the highest
quality care in light of the shifting healthcare environment, and made
the decision to join a patient-focused group with a proven model of
success,” said Andrew Wertz, M.D., President of CSMGS. “This partnership
provides an opportunity for our physicians to continue to do what they
do best - take care of our patients. We now have the opportunity to
share best practices with more than 300 other neonatology intensive care
units and have access to research, education and administrative support
that will ultimately be a tremendous benefit to our Sacramento
community.”
The physicians joining as a result of these transactions will now be
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.
These practices were acquired for cash and the transactions are expected
to be immediately accretive to its earnings. No additional terms of the
transactions were disclosed.
With these acquisitions, three physician group practices have become
part of Pediatrix Medical Group in 2012.
ABOUT MEDNAX
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 900
anesthesiologists and advanced practitioners. MEDNAX, through its
affiliated professional corporations, employs more than 1,800 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.
MEDNAX, Inc.
David Parker, 954-384-0175, x-5300
Vice
President, Corporate Communications & Investor Relations
david_parker@mednax.com