Pediatrix Expands National Group Practice to Macon, GA
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 4, 2005--Pediatrix Medical Group, Inc. (NYSE:PDX) today announced that it has completed the acquisition of a neonatal physician group practice based in Macon, Georgia that serves patients throughout the growing southern and central Georgia communities. The transaction became effective January 1, 2005. Pediatrix is the nation's largest provider of newborn and maternal-fetal physician services.
The group practice consists of three physicians who staff the neonatal intensive care units (NICUs) at two hospitals in Macon. Combined annual patient volume at both NICUs is approximately 17,000 patient days.
"As we moved through the process of deciding to join Pediatrix, we were encouraged that there will be very few changes to our day-to-day clinical activities but that we're going to see tremendous benefit from Pediatrix's proven research and education, business and financial resources," said Mitch Rodriguez, M.D., who will serve as Pediatrix's medical director in Macon. "We manage a busy unit that is one of Georgia's regional centers and joining Pediatrix provides us an opportunity to focus our energies on patient care in this rapidly growing region."
Pediatrix paid cash for the Macon practice and the transaction is expected to be immediately accretive to earnings.
Pediatrix was founded in 1979. Pediatrix physicians and advanced nurse practitioners 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. Combined, Pediatrix and its affiliated professional corporations employ more than 750 physicians in 31 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 in Pediatrix's most recent Annual Report on Form 10-K, including the section entitled "Risk Factors".
Pediatrix Medical Group, Inc., Fort Lauderdale
Bob Kneeley, 954-384-0175, x-5300 (Investor Relations)
SOURCE: Pediatrix Medical Group, Inc.