Pediatrix Expands Neonatal Services in Houston
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 25, 2004--Pediatrix Medical Group, Inc. (NYSE:PDX) has expanded its national group practice to include the services of three neonatal physicians practicing at hospitals in Houston, Texas. Pediatrix is the nation's largest provider of newborn and maternal-fetal physician services.
The addition of three Houston-based physicians through acquisition introduces Pediatrix's patient care model to babies cared for in the Level III neonatal intensive care unit (NICU) at Memorial Hermann Southwest Hospital, as well as in three Level II NICUs at nearby hospitals. At all of the units combined, the practice has annual patient volume in excess of 9,000 NICU patient days.
Pediatrix paid cash to acquire the physician group, and specific terms were not disclosed. The Houston group practice is expected to contribute immediately to Pediatrix's earnings.
During 2004, Pediatrix has completed acquisitions that expand its national group presence in eight markets and across four physician subspecialties: neonatal intensive care, maternal-fetal medicine, pediatric intensive care and pediatric cardiology.
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. Pediatrix provides services at more than 200 neonatal intensive care units, and through Obstetrix, provides maternal-fetal subspecialty services in many markets where Pediatrix provides patient services. Combined, Pediatrix and its affiliated professional corporations employ more than 715 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 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
Investor Relations: Bob Kneeley, 954-384-0175 Ext. 5300
SOURCE: Pediatrix Medical Group, Inc.