Pediatrix Acquires Atlanta Maternal-Fetal, OB Physician Group
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 19, 2008--Pediatrix Medical Group, Inc., (NYSE: PDX) today announced that it has completed the acquisition of Northside Women's Specialists, P.C., a physician group practice that provides maternal-fetal medicine and obstetrical and gynecological services to women in Atlanta.
The practice consists of 13 physicians, including seven maternal-fetal medicine subspecialists and six physicians who specialize in obstetrics and gynecology, four certified nurse midwives and three certified nurse practitioners.
The group provides comprehensive care for women at four physician office locations in northern Atlanta and delivers babies at Atlanta's Northside Hospital, while providing consultations for patients at Gwinnett Medical Center, Emory Johns Creek Hospital, and North Fulton Regional Hospital. The practice was founded as an obstetrics/gynecology physician group in the late 1970s and expanded to include maternal-fetal medicine during the 1990s, successfully integrating the two specialties. The group's growth coincides with the development of the Atlanta metropolitan area, particularly the communities in North Atlanta.
"We've been experiencing rapid growth in the demand for our services, including new, more comprehensive screening and diagnostic tools that are available to our patients," said Daniel Eller, M.D., a maternal-fetal medicine subspecialist who will serve as medical director for the practice. "With the resources of a larger organization, we will be able to continue to provide excellent care for our patients while expanding faster to meet the demands of a growing population. We also see an opportunity to collaborate with other Pediatrix physicians practicing around the country by conducting clinical research to improve care for our patients."
With the acquisition of Northside Women's Specialists, Pediatrix has more than 115 affiliated maternal-fetal medicine physician subspecialists practicing throughout the country as part of its national group.
Pediatrix paid cash for the practice and the transaction is expected to be accretive to earnings.
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 1,050 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". Additional factors include, but are not limited to: the possible discovery of additional facts beyond those reviewed by the Audit Committee; litigation related to the matters investigated by the Pediatrix's Audit Committee or the restatements to Pediatrix's financial statements and other historical disclosures; and any regulatory actions of the SEC or the U.S. Attorney related to such matters.
Pediatrix Medical Group, Inc.
Bob Kneeley, 954-384-0175, x-5300
Director, Investor Relations,
SOURCE: Pediatrix Medical Group, Inc.