Pediatrix Expands Neonatal Services in Tampa-St. Petersburg
FORT LAUDERDALE, Fla., Jul 11, 2005 (BUSINESS WIRE) -- Pediatrix Medical Group (NYSE: PDX), the nation's leading physician group focused on neonatal and maternal-fetal care, expanded its services in Florida's Tampa- St. Petersburg area with the acquisition of a neonatal physician group practice serving patients admitted to Brandon Regional Hospital.
The physician group practice consists of two neonatal physicians and two advanced nurse practitioners and a neonatal physician assistant who provide critical care to sick and premature newborns admitted to the hospital's level III neonatal intensive care unit (NICU). The practice also provides well-baby physician services.
The practice has annual patient volume of more than 5,000 NICU patient days.
"As a small group, we often miss out on participating in clinical trials and maintaining collegial relationships with other neonatologists; joining Pediatrix enables us to expand our relationships and contribute to and benefit from significant research initiatives," said Nancy K. Landfish, M.D., Pediatrix's Medical Director at the Brandon practice. "I recently participated in a clinical trial with Pediatrix and through that experience learned its focus was similar to ours, only bigger, putting patients and quality first and I welcome being part of a national research group that is quality oriented."
In this clinical trial, Pediatrix researchers evaluated more than 5,000 neonatal outcomes to compare the effects of two different respiratory treatments. Pediatrix's Center for Research and Education routinely collaborates with physician practices, healthcare organizations and academic institutions across the country to conduct research programs aimed at advancing care for neonatal and maternal-fetal patients.
Pediatrix paid cash for the practice and the transaction is expected to be 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 220 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 790 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".
SOURCE: Pediatrix Medical Group
Pediatrix Medical Group
Bob Kneeley, 954-384-0175, Ext. 5300