FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 6, 2020--
MEDNAX, Inc. (NYSE: MD) today announced its affiliation with Boca Radiology Group, P.A., a private radiology physician group based in Boca Raton, Fla. The practice will integrate with Radiology Associates of South Florida, LLC (RASF), a MEDNAX-affiliated physician practice located in Miami and serving all of South Florida.
This marks the Company’s tenth radiology practice affiliation and the third in Florida, further establishing MEDNAX Radiology Solutions as one of the nation’s largest radiology practices, reading over 11.8 million studies annually through its more than 825 board-certified or eligible radiologists.
Established in 1967, Boca Radiology Group has provided state-of-the-art radiology services throughout Palm Beach County for more than 50 years and is one of the largest private radiology practices in Southeast Florida. Comprising 36 board-certified radiologists, the group provides a full range of diagnostic and interventional services, including musculoskeletal imaging, neuroradiology, cardiac imaging, oncology imaging, prostate imaging and women’s imaging. Since its inception, the practice has served Boca Raton Regional Hospital, now a Baptist Health South Florida (BHSF) facility, and six of its outpatient centers. Additionally, it reads for six regional Diagnostic Centers of America facilities as well as more than 40 imaging centers and single- and multispecialty physician offices in nine states across the U.S. Through RASF, MEDNAX Radiology Solutions now provides imaging services to the entire BHSF network.
“As the radiology marketplace consolidates, we wanted a strategic partner with geographic scale to further elevate the quality of care we provide to our patients,” said Joseph Kleinman, M.D., President of Boca Radiology Group. “Through our partnership with MEDNAX, we will be well-positioned to withstand the ever-evolving healthcare environment, including the transition to value-based care. We look forward to enhanced education opportunities and collaboration with our esteemed partners across the country as we transform Boca Radiology Group from the most successful regional practice in Palm Beach County to a renowned strategically-focused national practice providing world-class radiology services.”
This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
MEDNAX, Inc. is a national health solutions partner comprised of the nation's leading providers of physician 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, consulting services, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 4,275 physicians in all 50 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 as MEDNAX’s current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the effects of economic conditions on MEDNAX’s business; the effects of the Affordable Care Act and potential changes thereto or a repeal thereof; MEDNAX’s relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the timing and contribution of future acquisitions; the effects of share repurchases; and the effects of MEDNAX’s transformation and restructuring initiatives.
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Source: MEDNAX, Inc.
Vice President, Strategy and Investor Relations
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