Pediatrix to Change its Name to MEDNAX, Inc.
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 19, 2008--Pediatrix Medical Group, Inc. (NYSE:PDX) announced that the Company will change its name to MEDNAX, Inc., to reflect the Company's development as a national medical group that provides services beyond its historical pediatric and maternal-fetal physician subspecialties.
Pediatrix's stock symbol on the New York Stock Exchange will become "MD" at the same time that the name change becomes effective, which is expected to occur at the beginning of 2009.
"This name change is in recognition of what we have become over the past several years, a physician services organization that has expanded beyond our roots as a single specialty organization," said Roger J. Medel, M.D., the Company's Chief Executive Officer. "Today our scope includes a clinical continuum around maternal-fetal, newborn and pediatric subspecialty care, as well as the development of our national anesthesia group. The MEDNAX name reflects our commitment to medical care, as well as our national presence. Our dedication to patient care, which has been synonymous with Pediatrix, will be extended to MEDNAX."
MEDNAX, Inc., will be organized as a new holding company with Pediatrix Medical Group and American Anesthesiology as its principal subsidiaries. As part of the tax-free reorganization, each share of Pediatrix common stock will become a share of MEDNAX, Inc.
The Pediatrix subsidiary's operations will include the Company's historic physician services in the neonatal, maternal-fetal, pediatric cardiology, and pediatric intensive care subspecialties, as well as the Company's newborn hearing screen program. American Anesthesiology was formed in 2007 and currently includes anesthesia physician services provided to patients in northern Virginia and Atlanta, Georgia.
Physicians and advanced practitioners will continue to practice under the Pediatrix and American Anesthesiology subsidiaries.
Pediatrix Medical Group, Inc. is the nation's leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services and recently expanded to include anesthesiology 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 250 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 1,100 physicians in 32 states and Puerto Rico. Pediatrix is also the nation's largest provider of newborn hearing screens. 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".
CONTACT: Pediatrix Medical Group, Inc., Fort Lauderdale Bob Kneeley, Director, Investor Relations 954-384-0175, Ext. 5300 firstname.lastname@example.org SOURCE: Pediatrix Medical Group, Inc. Pediatrix Medical Group, Inc.