Pediatrix Acquires Baton Rouge Neonatal Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 21, 2005--Pediatrix Medical Group, Inc. (NYSE:PDX), the nation's leading physician group practice focused on neonatal and maternal-fetal critical care, today announced the acquisition of a neonatal physician group practice based in Baton Rouge, Louisiana.
The acquired practice provides critical care services to ill and premature newborns at Baton Rouge General Hospital's Level III, 12-bed neonatal intensive care unit (NICU) that has annual patient volume that exceeds 3,000 NICU patient days. The practice also provides well-baby services to babies admitted to the hospital.
During 2005, Pediatrix has completed nine physician group practice acquisitions.
Pediatrix paid cash for the practice and the transaction is expected to be accretive to earnings.
Pediatrix promotes a patient-centric model for care and supports subspecialist physicians with powerful clinical tools, quality improvement initiatives and advanced educational programs available at http://www.pediatrixu.com.
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 220 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 790 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 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".
CONTACT: Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, 954-384-0175, ext. 5300
SOURCE: Pediatrix Medical Group, Inc.