Pediatrix Acquires Seattle Ultrasound Physician Group Practice
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 20, 2007--Pediatrix Medical Group, Inc. (NYSE: PDX) has expanded its patient services offering in the Seattle metropolitan area with the acquisition of a physician group that concentrates on obstetrical and high-risk maternal-fetal medicine ultrasounds.
The seven physicians joining Pediatrix are board-certified radiologists who support obstetricians and maternal-fetal medicine subspecialists in that community, and work closely with Pediatrix's maternal-fetal medicine physician subspecialists based in Seattle.
The ultrasound radiology practice was formed in the mid 1970s, when obstetrical ultrasounds were routinely performed by radiologists. The Seattle ultrasound practice maintains a focus on delivering high quality efficient diagnostic radiology services for patients referred by obstetricians and maternal-fetal medicine subspecialists.
"As our practice has grown, we've attracted radiologists who enjoy working in a clinical setting that involves patient interaction," said Jack H. Hirsch, M.D., a partner in the practice and Pediatrix's medical director. "We've made sure that we're adding value to referring physicians in our community by focusing on high-quality diagnostic service and managing an efficient office, which includes readily available appointments for patients, as well as comprehensive diagnostic reporting to referring physicians managing pregnancies. Working with Pediatrix and the physicians here in Seattle, I expect that we'll be able to expand on important diagnostic initiatives in maternal-fetal care."
Physicians who practice as part of Pediatrix staff neonatal intensive care and pediatric intensive care units in Seattle. Pediatrix's physician services also include a pediatric cardiology practice in Tacoma, as well as maternal-fetal medicine practices with offices throughout Seattle.
Pediatrix paid cash for the ultrasound radiology practice, which is expected to positively contribute to earnings. No other terms of the acquisition were disclosed.
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: the possible discovery of additional facts beyond those reviewed by the Audit Committee; possible litigation related to the matters investigated by the Pediatrix's Audit Committee or the restatements to Pediatrix's financial statements and other historical disclosures; and any regulatory actions of the SEC or the U.S. Attorney related to such matters.
CONTACT: Pediatrix Medical Group, Inc. Bob Kneeley, 954-384-0175, ext. 5300 Director, Investor Relations email@example.com SOURCE: Pediatrix Medical Group, Inc.