MEDNAX Announces the Acquisition of Wilmington, NC Maternal-Fetal
FORT LAUDERDALE, Fla., Dec 13, 2010 (BUSINESS WIRE) --
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of a maternal-fetal medicine physician group based in Wilmington, NC.
Wilmington Maternal-Fetal Medicine, PLLC, consists of two maternal-fetal medicine physicians and 12 clinical support staff who provide care to expectant mothers, including the management of high-risk and complicated pregnancies, throughout 10 counties in southeast North Carolina and northeast South Carolina. Wilmington Maternal-Fetal Medicine has two office locations and a long-term relationship with New Hanover Regional Medical Center in Wilmington, NC.
The physicians will practice as part of MEDNAX's Pediatrix Medical Group, a national medical group that comprises the nation's leading provider of neonatal, maternal-fetal medicine and pediatric cardiology physicians, as well as other pediatric subspecialists.
"Our practice has provided care for thousands of pregnant women in the communities that we serve in North and South Carolina, and we believe that becoming part of a national group practice will give us the support necessary to grow and expand our services while continuing to deliver the highest quality patient care," said Lydia Wright, M.D., who will serve as medical director for the practice. "Furthermore, we are very excited to be joining a physician group that is on the cutting edge of improving patient care through research programs and clinical quality initiatives that focus on collaborating with physicians around the country and applying best practices, to help achieve the best possible outcomes for patients and their families."
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.
Through its American Anesthesiology division, MEDNAX provides anesthesiology services at two hospitals in Wilmington, including New Hanover Regional Medical Center, as well as two ambulatory surgery centers in that metropolitan area, as a result of a physician group practice acquisition completed in December 2009.
With this acquisition, 12 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 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