Nashville Maternal-Fetal Physician Group Acquired by Pediatrix
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--
Pediatrix Medical Group, Inc. (NYSE:PDX) has completed the acquisition of Maternal-Fetal Group, PLLC, a physician group practice based in Nashville, Tennessee, that provides patient care for women with high-risk and complicated pregnancies. The group will practice as part of Obstetrix Medical Group, a maternal-fetal medicine national medical group that is part of Pediatrix.
Maternal-Fetal Group consists of three physicians who provide patient care at three offices in the Nashville metropolitan area. The practice also has agreements to support referring obstetrical practices by providing mobile ultrasound services at approximately 20 sites throughout the metropolitan area. In addition to the physicians, Maternal-Fetal Group also includes more than 40 clinical and administrative staff members.
Maternal-Fetal Group has participated in extensive research to identify causes of premature labor, including an understanding of infections associated with prenatal care, under the direction of Stephen J. Fortunato, M.D.
"Joining with a national group of maternal-fetal physicians gives us the ability to take our practice to a different level," said Salvatore J. Lombardi, M.D., who was one of Maternal-Fetal Group's founding physicians and will serve as Medical Director of Obstetrix in Nashville. "The value added for our subspecialty is the ability to support community-based obstetricians with prenatal diagnosis of fetal and maternal problems. We expect that our ability to collaborate with Obstetrix physicians across the country to accelerate research and conduct clinical quality initiatives will lead to improved outcomes for pregnant women in our community."
Pediatrix paid cash for Maternal-Fetal Group, and the practice is expected to contribute to the Company's earnings immediately. Additional terms of the transaction were not disclosed.
Investor conference call
Pediatrix Medical Group, Inc. will host an investor conference call to discuss the Nashville acquisition, as well as other corporate developments, at 10 a.m. (EDT) today. The conference call Webcast may be accessed from the Company's Website, www.pediatrix.com. A telephone replay of the conference call will be available from noon (EDT) today through midnight (EDT) October 15, 2008, by dialing 800-475-6701, access code 963245. The replay will also be available at www.pediatrix.com.
Pediatrix Medical Group, Inc. is the nation's leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services and recently expanded to include anesthesiology services. Pediatrix physicians and advanced practitioners are reshaping the delivery of care within the maternal-fetal, neonatal intensive care and pediatric cardiology subspecialties, using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Founded in 1979, its neonatal physicians provide services at more than 250 neonatal intensive care units, and in many markets they collaborate with affiliated maternal-fetal medicine, pediatric cardiology physician subspecialists and pediatric intensivists to provide a clinical care continuum. Combined, Pediatrix and its affiliated professional corporations employ more than 1,200 physicians in 32 states and Puerto Rico. Pediatrix is also the nation's largest provider of newborn hearing screens. Additional information is available at www.pediatrix.com.
Certain statements and information in this press release may be deemed to be "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. 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 are forward-looking statements. 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 Pediatrix'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 Pediatrix 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 Pediatrix's most recent Annual Report on Form 10-K, including the section entitled "Risk Factors".
Source: Pediatrix Medical Group, Inc.