Pediatrix Acquires Atlanta Neonatal Physician Group
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 22, 2004--The nation's largest provider of newborn and maternal fetal physician services, Pediatrix Medical Group, Inc. (NYSE:PDX), has completed the acquisition of a neonatal physician group practice that staffs the neonatal intensive care unit (NICU) at Atlanta Medical Center.
The NICU at Atlanta Medical Center has annual patient volume in excess of 7,000 patient days. In addition, the physician practice has annual well-baby patient care volume of approximately 3,000 patient days.
"We're pleased that the physicians practicing here at Atlanta Medical Center will now be a part of Pediatrix Medical Group," said William T. Moore, President and Chief Executive Officer of Atlanta Medical Center, which is part of the Tenet Healthcare system. "We're excited that these physicians will now be able to bring to our patients benefits that will accrue from their access to the vast clinical resources that Pediatrix has devoted to this specialized area of medicine."
Pediatrix physicians contribute to the world's largest neonatal outcomes database which has been used successfully to direct prospective clinical trials, for clinical quality initiatives and for retrospective studies that have been published in peer-reviewed literature.
Pediatrix's national group practice continues to attract specialized physician groups from throughout the nation. During 2004, Pediatrix has continued to grow through acquisition, expanding its national group model in eight markets, including Atlanta.
Pediatrix was founded in 1979. Pediatrix physicians and advanced nurse practitioners are reshaping the delivery of maternal-fetal and newborn care, identifying best demonstrated processes and participating in clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Its neonatal physicians provide services at more than 200 NICUs, and through Obstetrix, its perinatal physicians provide services in many markets where Pediatrix's neonatal physicians practice. Combined, Pediatrix and its affiliated professional corporations employ more than 750 physicians in 31 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 http://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".
Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, 954-384-0175, x-5300
SOURCE: Pediatrix Medical Group, Inc.