Pediatrix Acquires Pediatric Cardiology Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 11, 2005--Pediatrix Medical Group, Inc. (NYSE:PDX), the nation's leading provider of newborn and maternal-fetal physician services, today announced it has completed the acquisition of a Dallas-based pediatric cardiology practice.
Texas Pediatric Cardiology Associates is a three-physician group that provides comprehensive pediatric cardiology services in Dallas and throughout surrounding north Texas cities. The physicians provide services including electrocardiograms, echocardiograms, ultrasound, stress tests and interventional cardiology to maternal-fetal, neonatal, pediatric and adult patients.
"I've worked for many years to build this practice and joining Pediatrix will help me to continue to grow and give me the opportunity to be part of a larger group of pediatric cardiologists across the country," said Damaris Y. Wright, MD, the Medical Director for the pediatric cardiology group. "We are also extremely excited about the prospect of collaborating with other Pediatrix physicians to research innovative treatments for patients with congenital heart disease."
Texas Pediatric Cardiology Associates is also one of the few practices in the country that specializes in treating patients suffering from eating disorders, which can significantly impact cardiovascular health.
Pediatrix Medical Group provides pediatric cardiology services in several locations across the nation, including Dallas and Austin in Texas; Miami, Fort Lauderdale and West Palm Beach in Florida; Phoenix and Tucson in Arizona; and in Denver, Colorado.
Pediatrix paid cash for the Dallas practice and the transaction is expected to be accretive to earnings. During 2005, Pediatrix has completed 11 physician group practice acquisitions.
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, x-5300
SOURCE: Pediatrix Medical Group, Inc.