Pediatrix Acquires Pediatric Cardiology Practice in Central Florida
FORT LAUDERDALE, Fla., Jul 28, 2006 (BUSINESS WIRE) -- Pediatrix Medical Group, Inc. (NYSE: PDX), the nation's leading provider of physician services to maternal-fetal, neonatal and pediatric patients, today announced the acquisition of a pediatric cardiology practice based in metropolitan Orlando, Florida.
Pediatric Cardiology Associates provides non-invasive pediatric cardiology physician services to infants and children with congenital and acquired heart disease, including echocardiograms, electrocardiograms, treadmill stress tests and fetal cardiology assessments.
"We're pleased to join Pediatrix because it offers us the best of two worlds: the resources to support the practice and an environment that embraces the intellectual pursuit of clinical and research interests," said Janusz Burzynski, M.D., who will serve as Pediatrix's Medical Director for the practice. "Pediatrix is quickly becoming one of the leading pediatric cardiology groups in the country and working together with fellow subspecialists, we have tremendous potential to incorporate clinical studies and advance the practice of pediatric cardiology."
The group provides inpatient services at several neighboring hospitals as well as an outreach clinic in the Central Florida city of Lake Wales.
Pediatrix paid cash for the practice and the transaction is expected to be immediately accretive to earnings.
Pediatrix Medical Group, Inc., is the nation's leading provider of newborn, maternal-fetal and pediatric physician subspecialty services. Pediatrix physicians and advanced nurse practitioners are reshaping the delivery of maternal-fetal and newborn care by identifying best demonstrated processes and participating in clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Founded in 1979, its neonatal physicians provide services at more than 240 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 860 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 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."
SOURCE: Pediatrix Medical Group, Inc.
Pediatrix Medical Group, Inc.
Bob Kneeley, 954-384-0175, ext. 5300