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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 20, 2003
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PEDIATRIX MEDICAL GROUP, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 0-26762 65-0271219
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1301 Concord Terrace
Sunrise, Florida 33323-2825
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (954) 384-0175
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. OTHER EVENTS
On November 20, 2003, Pediatrix Medical Group, Inc. (the "Company") issued a
press release (the "Press Release") announcing that its Nevada perinatal
practice was served with a search warrant by the State of Nevada. The warrant
requested information concerning Medicaid billings for perinatal patient care
rendered in Nevada since January 1, 2000. Medicaid payments to this perinatal
physician practice represented approximately two-tenths of a percent of the
Company's 2002 net patient service revenue
The Company does not know the full extent of the investigation at this point but
intends to follow its long-standing practice of cooperating fully with
regulatory agencies. The Company believes that its billing practices are
appropriate. The Press Release is attached as an exhibit hereto and incorporated
by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PEDIATRIX MEDICAL GROUP, INC.
Date: November 20, 2003 By: /s/ Karl B. Wagner
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Karl B. Wagner
Chief Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated November 20, 2003.
EXHIBIT 99.1
Pediatrix Informed of Nevada Medicaid Investigation
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 20, 2003--Pediatrix
Medical Group, Inc. (NYSE:PDX), the nation's largest provider of
newborn and perinatal physician services, reported that late yesterday
its Nevada perinatal practice was served with a search warrant by the
State of Nevada. The warrant requested information concerning Medicaid
billings for perinatal patient care rendered in Nevada since January
1, 2000. Medicaid payments to this perinatal physician practice
represented approximately two-tenths of a percent of the Company's
2002 net patient service revenue.
The Company does not know the full extent of the investigation at
this point but intends to follow its long-standing practice of
cooperating fully with regulatory agencies. The Company believes that
its billing practices are appropriate.
About Pediatrix
Pediatrix was founded in 1979. Pediatrix physicians 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 675 physicians in 30 states and Puerto Rico. Additional
information is available at www.pediatrix.com.
Matters discussed in this release may include forward-looking
statements within the meaning of the Federal securities laws. Such
forward-looking statements may include, but are not limited to,
statements relating to Pediatrix's objectives, plans and strategies,
and all statements (other than statements of historical facts) that
address activities, events or developments that Pediatrix intends,
expects, projects, believes or anticipates will or may occur in the
future are forward-looking statements. Such statements are often
characterized by terminology such as "believe", "hope", "may",
"anticipate", "should", "intend", "plan", "will", "expect",
"estimate", "project", "positioned", "strategy" and similar
expressions.
These statements 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 believed to be appropriate. Any
forward-looking statement is made as of the date hereof. We disclaim
any duty to update or revise any such statement, 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 that could cause actual results, developments
and business decisions to differ materially from those contemplated by
such forward-looking statements.
Some of the factors that may cause actual results, developments
and business decisions to differ materially from those projected or
anticipated by such forward-looking statements, as more fully
discussed under the section entitled "Risk Factors" in Pediatrix's
most recent Annual Report on Form 10-K filed with the Securities and
Exchange Commission, include, pending and future investigations by
federal and state government authorities of Pediatrix's billing or
other practices (including the previously disclosed investigations
regarding Pediatrix's Medicaid billing practices and an investigation
by the Federal Trade Commission); unfavorable regulatory or other
changes or conditions in geographic areas where Pediatrix's operations
are concentrated; determinations that Pediatrix failed to comply with
applicable health care laws and regulations, limitations, reductions
or retroactive adjustments reimbursement amounts or rates by
government-sponsored health care programs; audits by third party
payors with respect to Pediatrix's billings for services; failure of
physicians affiliated with us to appropriately record and document the
services that they provide; Pediatrix's failure to find suitable
acquisition candidates or successfully integrate any future or recent
acquisitions; Pediatrix's failure to successfully implement
Pediatrix's strategy of diversifying its operations; impairment of
long-lived assets, such as goodwill; federal and state health care
reform, including changes in the interpretation of
government-sponsored health care programs; Pediatrix's failure to
successfully recruit additional and retain existing qualified
physicians; pending and future malpractice and other lawsuits;
Pediatrix's failure to manage growth effectively and to maintain
effective and efficient information systems; Pediatrix's failure to
collect reimbursements from third party payors in a timely manner;
cancellation or non-renewal of Pediatrix's arrangements with
hospitals, or renewal of such arrangements on less favorable terms;
loss of Pediatrix's affiliated physicians' privileges or ability to
provide services in hospitals, or hospitals entering into arrangements
with physicians not affiliated with Pediatrix; and increased
competition in the health care industry.
CONTACT: Pediatrix Medical Group, Inc.
Bob Kneeley, 954-384-0175, x-5300
bob_kneeley@pediatrix.com