Pediatrix Acquires Atlanta Maternal-Fetal Physician Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 16, 2008--Pediatrix Medical Group, Inc. (NYSE:PDX) has acquired Maternal Fetal Diagnostic Center of Atlanta, Inc., a physician group that provides services to women with complicated pregnancies.
The practice was founded 18 years ago by Phillip L. Potter, M.D., a sole practitioner who sees patients at offices located near two Atlanta area hospitals. The group includes two nurse practitioners as well as clinical and administrative support staff, and Pediatrix will recruit an additional physician to the practice.
Dr. Potter has joined Pediatrix to gain additional practice administrative resources to support increasing demand that is coming from a growing referral base, as well as to participate in clinical research.
"I'm excited about the opportunities to collaborate on research with maternal-fetal medicine physicians throughout the country to find ways to improve the health of women with high-risk pregnancies," said Dr. Potter.
With the completion of this acquisition, the Company now has a network of more than 120 physicians practicing maternal-fetal medicine and obstetrics across the nation.
Pediatrix paid cash for the practice which is expected to contribute to earnings per share immediately. No additional terms of the transaction were announced.
Pediatrix has completed seven physician group practice acquisitions during 2008 including one neonatal group, three pediatric cardiology groups, two maternal-fetal groups and one 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 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 1,100 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".
CONTACT: Pediatrix Medical Group, Inc., Fort Lauderdale Bob Kneeley, Director, Investor Relations 954-384-0175, x-5300 email@example.com
SOURCE: Pediatrix Medical Group, Inc.