Conference Call/Webcast Scheduled for January 3rd at 10 a.m. EST
to Summarize 2012 Acquisitions
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 2, 2013--
MEDNAX, Inc., (NYSE: MD) today announced the acquisitions of
Anesthesiologists Associated, P.C., a private physician group practice
that provides anesthesia services in the Chattanooga, Tenn. metropolitan
area, and Pediatric Surgical and Associates, a pediatric surgery
physician group practice serving the Dallas-Fort Worth Metroplex and
surrounding North Texas area. The due diligence process for these two
acquisitions was ongoing over the last several months, resulting in both
acquisitions being closed and effective as of December 31, 2012.
Anesthesiologists Associated consists of 34 anesthesiologists, 100
anesthetists and 24 other clinical and administrative staff, providing
anesthesia care at four hospitals and two surgery centers. The practice,
which is one of the longest standing physician group practices in
Tennessee, offers anesthesia services across a wide spectrum of
subspecialty areas, including orthopedic, cardiac, and oncology.
“Faced with an uncertain healthcare environment, we were looking to
partner with an established national medical group with a long track
record of successful practice management,” said Chris Yetter, M.D., who
will serve as medical director of the practice. “The resources American
Anesthesiology will provide, such as research and education, clinical
support, and administrative infrastructure, will allow us to provide the
highest quality care to our patients moving forward.”
The physicians joining as a result of this transaction will now be part
of MEDNAX’s American Anesthesiology division, which consists of more
than 1,475 anesthesia providers, including more than 600 physicians and
875 anesthetists practicing in North Carolina, Florida, Georgia,
Michigan, New Jersey, Tennessee, Texas and Virginia, with administrative
offices in Sunrise, Fla. and Raleigh, N.C.
The acquisition of Plano-based Pediatric Surgical and Associates brings
six pediatric surgeons and 15 other clinical and administrative staff
who provide pediatric general and thoracic surgical care of infants,
children, and adolescents, to MEDNAX’s Pediatrix Medical Group division.
This is the second pediatric surgery group to join the division.
The practice, which has been serving its community for approximately 50
years, has seven office locations, and is affiliated with nine hospitals
and three certified ambulatory surgery centers throughout the
Dallas-Fort Worth Metroplex and surrounding North Texas area.
Pediatric surgeons provide specialized care for patients ranging from
newborns to adolescents, for all problems or conditions affecting
children that require surgical intervention. They work closely with
neonatologists, pediatric cardiologists, and other pediatric specialists.
“Partnering with a national medical group that provides us with the
resources and stability we need to achieve long-term growth is a
necessity given today’s healthcare environment,” said Darrell Hermann,
M.D., who will serve as medical director for the practice. “We look
forward to incorporating Pediatrix research, education and clinical
initiatives into the day-to-day operations of our practice to positively
impact patient care.”
The physicians and employees joining as a result of this transaction
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 earnings. No additional terms of these
transactions were disclosed.
With these acquisitions, 16 physician group practices have become part
of MEDNAX in 2012, eight as part of American Anesthesiology, and eight
as part of Pediatrix Medical Group.
A conference call/webcast to summarize the 2012 acquisitions is
scheduled for Thursday, January 3, 2013 at 10 a.m. EST. To access the
call, dial (800) 230-1085. This call will be webcast on MEDNAX’s website
at www.mednax.com/investors.
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, MEDNAX expanded into anesthesia
services. Today, American Anesthesiology includes more than 1,475
anesthesiologists and advanced practitioners who provide anesthesia care
to patients in connection with surgical and other procedures as well as
pain management. MEDNAX, through its affiliated professional
corporations, employs more than 2,000 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 within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements 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 T. Parker, 954-384-0175, ext. 5300
Vice
President, Investor Relations & Corporate Communications
david_parker@mednax.com