Pediatrix Acquires Albuquerque Pediatric Cardiology Group Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 16, 2007--Pediatrix Medical Group, Inc. (NYSE:PDX) has completed the acquisition of Pediatric Cardiology Associates of New Mexico, a pediatric cardiology physician group practice based in Albuquerque.
The four physicians and clinical and administrative support staff provide comprehensive pediatric cardiology services, including echocardiography, electrocardiography and interventional catheterization, from their Albuquerque office and at outreach clinics across the state.
The group joined Pediatrix in response to increased patient care demand in their community, and an accompanying desire to add clinical and administrative infrastructure.
"We've used several national benchmarks to compare our outcomes and it will be helpful, as part of Pediatrix, to use their electronic medical record to build a clinical data warehouse of pediatric cardiology patient outcomes," said Steven M. Yabek, M.D., one of the founding physicians of Pediatric Cardiology Associates, and Pediatrix's medical director for pediatric cardiology in Albuquerque. "I'm looking forward to collaborating with Pediatrix's pediatric cardiologists across the country, and particularly those practices in the southwest, to identify ways to improve care and support the growth of our services throughout New Mexico."
Pediatrix is the nation's largest provider of pediatric cardiology physician services, with more than 65 physicians providing patient care in 12 metropolitan areas across the country.
Pediatrix used its cash to complete the acquisition of Pediatric Cardiology Associates, and the transaction is expected to contribute to Pediatrix's earnings.
During 2007, Pediatrix has used its cash to complete nine physician group practice acquisitions, including two pediatric cardiology groups, four neonatal physician groups, one maternal-fetal medicine group, an ultrasound radiology group and an anesthesia group.
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 240 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 1,000 physicians in 32 states and Puerto Rico. Pediatrix is also the nation's largest provider of newborn hearing screens and newborn metabolic screening. Additional information is available at www.pediatrix.com.
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