Pediatrix Acquires San Antonio Pediatric Cardiology Practice
The five pediatric cardiologists practicing as Pediatric Cardiology Associates are now part of Pediatrix's national group practice, the nation's leading provider of newborn, maternal-fetal and pediatric subspecialty physician services.
"We're in a very dynamic area of medicine, which is why we're excited about practicing as part of Pediatrix," said Kenneth R. Bloom, M.D., who founded the practice in 1982 and will serve as Pediatrix's medical director for the San Antonio pediatric cardiology practice. "Pediatric cardiology has evolved to be part of a care continuum that includes maternal-fetal and neonatal intensive care services, and we're already working with Pediatrix physicians in those subspecialties in our communities. In addition, as pediatric cardiologists have positively impacted outcomes for children, our case load is increasing as we treat more and more adult patients with congenital heart disease. Pediatrix is a strong clinical and financial partner that will support our growth to meet this increasing demand for our services, and will do so within a framework that maintains our focus on patient care."
Pediatrix paid cash for the San Antonio practice and expects that this acquisition will be immediately accretive. During 2007, Pediatrix has completed three physician group practice acquisitions, including neonatal practices in San Francisco, CA, and Munster, IN, as well as the San Antonio practice.
About Pediatrix
Pediatrix Medical Group, Inc. is the nation's leading provider of neonatal, maternal-fetal and pediatric physician subspecialty 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 240 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 950 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." Additional factors include, but are not limited to, uncertainties related to: the time needed to complete the Audit Committee's inquiry into historic stock option grant practices; the pending restatement of Pediatrix's financial statements; the financial reporting impact of improperly dated stock options; the tax effects of improperly dated stock options; the potential discovery of accounting errors or other adverse facts and possible litigation or regulatory action resulting from the SEC's investigation or the U.S. Attorney's investigation of Pediatrix's stock option granting practices.
SOURCE: Pediatrix Medical Group, Inc.
Pediatrix Medical Group, Inc. Bob Kneeley, 954-384-0175, x-5300 Director, Investor Relations bob_kneeley@pediatrix.com