Pediatrix Acquires Pediatric Cardiology Practice in Washington
FORT LAUDERDALE, Fla., Jun 16, 2006 (BUSINESS WIRE) -- Pediatrix Medical Group, Inc. (NYSE:PDX), the nation's leading provider of newborn and maternal-fetal physician services, today announced the acquisition of a pediatric cardiology practice in Tacoma, Washington.
NorthWest Children's Heart Care consists of three physicians who provide comprehensive cardiology services to prenatal, pediatric and adolescent patients with congenital and acquired heart disease. In addition to their principal location in Tacoma, the group operates clinics in nine additional locations in the South Puget Sound area. The group's expertise includes a variety of diagnostic, interventional and therapeutic procedures including echocardiograms, electrocardiograms, cardiac catheterizations, fetal monitoring and cardiopulmonary exercise testing.
"As we grow, joining Pediatrix will enhance our clinical resources by connecting us to a national community of pediatric cardiologists, giving us a wider platform to share ideas and advance therapies for infants and children with heart disease," said John P. McCloskey M.D., who will serve as Pediatrix's Medical Director. "Accessibility is vital in serving the needs of our patients and referring physicians, which is why our outreach programs offer a full range of services to the southwest Washington communities."
Recently, the group launched a preventive cardiology clinic to deal with fat abnormalities, hypertension, and obesity in children. The goal of the clinic, according to Dr. McCloskey, is to change nutritional and lifestyle patterns of children who are at risk for early heart disease, before they manifest into life-long illnesses in adulthood.
With the completion of this transaction, more than 50 pediatric cardiologists currently practice as part of Pediatrix.
Pediatrix paid cash for the Tacoma practice and the transaction is expected to be 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 http://www.pediatrix.com.
SOURCE: Pediatrix Medical Group, Inc.
Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, 954-384-0175, x-5300