MEDNAX Announces the Acquisition of Washington State Pediatric
Critical Care Practice
Critical Care Practice
FORT LAUDERDALE, Fla., Dec 01, 2010 (BUSINESS WIRE) --
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of a pediatric critical care physician group based in Spokane, WA.
Pediatric Critical Care Associates, P.S., consists of six physicians who provide a range of pediatric critical care services to patients in the pediatric intensive care unit (PICU) at Sacred Heart Medical Center & Children's Hospital in Spokane. The group will practice as part of MEDNAX's Pediatrix Medical Group.
Pediatric critical care physicians, also called pediatric intensivists, are hospital-based physicians who provide specialized care to children and adolescents who are critically ill or present with an unstable medical condition. These critically ill patients are typically cared for in a PICU.
Pediatrix Medical Group is a national group practice that comprises the nation's leading provider of neonatal, maternal-fetal medicine and pediatric cardiology physicians, as well as other pediatric subspecialists. There are currently more than 75pediatric critical care specialists who are part of the Pediatrix group.
"Our practice has a long-standing relationship with the local community because of our consistent focus on delivering the highest quality care to our patients and their families. Now, as part of Pediatrix, we will have the ability to further build upon this commitment by collaborating with other pediatric specialists from around the country," said Peter Graves, M.D., who will serve as Pediatrix's medical director for the practice. "We are excited to be joining a physician group that is expanding in the area of pediatric critical care and that demonstrates a strong vision for improving patient care by working together, sharing data and clinical pathways, and applying best practices to help achieve the best possible outcomes for our pediatric patients."
MEDNAX paid cash for the practice, and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transaction were disclosed.
With this acquisition, 11 physician group practices have become part of Pediatrix Medical Group and American Anesthesiology during 2010.
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 275 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric intensivist 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 650 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,625 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 as MEDNAX's current reports on Form 8-K,filed with the Securities and Exchange Commission.
SOURCE: MEDNAX, Inc.
Bob Kneeley, Vice President, Investor Relations