Pediatrix Acquires Louisiana Neonatal Physician Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 8, 2008--Pediatrix Medical Group, Inc. (NYSE: PDX), has expanded its national group practice of neonatal physicians with the acquisition of a practice based in Alexandria, Louisiana.
The practice, which covers the Level III regional neonatal intensive care unit at Rapides Regional Medical Center, has volume of approximately 8,000 annual patient days, and has grown in recent years along with economic development in the region.
"We're seeing more and more patients transported from outside of Alexandria as well as increased volume from an expanding obstetrical staff at our hospital," said Robert E. Schroeder, M.D., who has directed patient care at the NICU, and now serves as Pediatrix's medical director at Rapides Regional. "As part of Pediatrix we'll have access to a clinical database that will help us to enhance the delivery of evidence-based medicine to our patients."
Pediatrix paid for this practice acquisition with cash and expects it will contribute to earnings immediately. During 2008, Pediatrix has acquired eight physician group practices, including neonatal, maternal-fetal, pediatric cardiology and anesthesia practices.
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."
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SOURCE: Pediatrix Medical Group, Inc.