MEDNAX Announces Expansion in Maryland with Acquisition of
Maternal-Fetal Medicine Group Practice
Maternal-Fetal Medicine Group Practice
Maryland Perinatal Associates also includes more than 45 clinical and administrative support staff who work with the physicians providing care to expectant mothers, including the management of high-risk and complicated pregnancies, in communities throughout Maryland. Maryland Perinatal Associates has four offices, and relationships with four area hospitals in Rockville, Frederick, Silver Springs and Takoma Park, Maryland.
The group will practice as part of MEDNAX's Pediatrix Medical Group, a national group practice that consists of the nation's leading neonatal, maternal-fetal medicine and pediatric cardiology physicians, as well as other pediatric subspecialists. Pediatrix's national group practice already includes neonatal and pediatric cardiology physician subspecialists practicing in Maryland and the northern Virginia area.
"As part of Pediatrix, we anticipate that our practice will benefit greatly from the administrative resources and clinical support of a national group network, both of which are very important factors in our growth given the consistently increasing demand for maternal-fetal services in our community," said Wayne Kramer, M.D., who will serve as Pediatrix's medical director for the practice. "From a patient care perspective, we will have the opportunity to collaborate directly with Pediatrix's pediatric cardiology and neonatal subspecialists to provide a continuum of care model that we believe will help us further improve outcomes for our 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 transactions were disclosed.
With this acquisition, MEDNAX has announced four physician group practice acquisitions in 2010.
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 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 550 anesthesiologists and advanced practitioners. MEDNAX, through its affiliated professional corporations, employs more than 1,450 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.
MEDNAX, Inc.
Bob Kneeley, Director, Investor Relations, 954-384-0175 x 5300
bob_kneeley@mednax.com