Pediatrix Acquires Physician Group Practice Providing Neonatal, Pediatric Specialty Care in Tallahassee
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 23, 2004--The nation's largest provider of maternal-fetal and newborn physician services, Pediatrix Medical Group, Inc., (NYSE:PDX), has expanded its national group practice with the acquisition of a Tallahassee, Florida-based physician group practice that staffs the neonatal intensive care, pediatric intensive care and pediatric units at Tallahassee Memorial Hospital.
The practice consists of three physicians and seven advanced practitioners who staff several of the hospital's units that have combined annual patient volume of more than 13,500 pediatric patient days, including more than 8,000 neonatal and 1,500 pediatric intensive care patient days. The practice also provides care in the well baby nursery, and manages the newborn hearing screen program at Tallahassee Memorial.
"We were very deliberate in our decision to join Pediatrix and we are excited about the opportunities that our integration into this national group of physicians will create for our patients at Tallahassee Memorial," said Todd Patterson, D.O. Dr. Patterson founded the practice in 1985, and will serve as Pediatrix's Medical Director at Tallahassee Memorial. In addition to his clinical duties, he is a member of the board of directors of Tallahassee Memorial Hospital and is the immediate-past Chief of Staff at the hospital.
Tallahassee Memorial is a not-for-profit 770-bed acute care facility that serves patients in northern Florida, southern Georgia and southern Alabama. The hospital is a recipient of a Robert Wood Johnson Pursuing Perfection grant and is participating in several programs to improve clinical quality.
Pediatrix's acquisition of the Tallahassee practice expands its national physician group practice within the State of Florida, from a base that includes neonatal physician services in Fort Lauderdale, West Palm Beach, Melbourne, Orlando, Tampa, and Pensacola, pediatric intensive care services in Fort Lauderdale, and pediatric cardiology services in South Florida.
Pediatrix was founded in 1979. Pediatrix physicians 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 200 NICUs, and through Obstetrix, its perinatal physicians provide services in many markets where Pediatrix's neonatal physicians practice. Pediatrix also employs pediatric intensivists, pediatric hospitalists, and pediatric cardiologists. Combined, Pediatrix and its affiliated professional corporations employ more than 690 physicians in 30 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 under "Risk Factors" in Pediatrix's most recent Annual Report on Form 10-K.
Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, 954-384-0175, x-5300
SOURCE: Pediatrix Medical Group, Inc.