MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Neonatology
Associates, Ltd. (NAL), a neonatal physician group practice based in
Phoenix, Arizona. The practice will become part of MEDNAX’s Pediatrix
Medical Group division.
NAL is a private practice that consists of 24 neonatologists, 5
pediatric hospitalists, 39 advanced practitioners, and 35 other clinical
and administrative support staff who provide a wide spectrum of
services, including neonatal intensive care, labor and delivery, and
hearing screen services, at 27 hospitals throughout Central and Northern
Arizona and in Tucson.
The practice, which has served the area for more than 40 years, performs
approximately 38,000 newborn hearing screens annually and its annual
NICU patient volume is approximately 60,000 days. NAL has been a leader
in neonatal education through conference and training programs and
several of the practice’s clinicians have been involved in research
programs and clinical trials.
“We are confident that partnering with such an established leader in the
industry will further advance the specialized and critical services we
have provided to the community's newborn babies for more than four
decades," said Ravi Gunawardene, M.D., who will serve as medical
director for the practice. “In an evolving, uncertain and complex
healthcare environment, this partnership will support our
infrastructure, provide collaborative research and education, and
ultimately enhance the ability of our physicians to focus on patient
care.”
Pediatrix Medical Group, through its affiliated entities, is an
established provider of a full spectrum of services including
neonatology, maternal-fetal, pediatric cardiology, pediatric and OB/GYN
hospitalist, developmental pediatric and newborn hearing screen services
at locations throughout the state of Arizona.
The practice was acquired for cash and the transaction is expected to be
immediately accretive to earnings. No additional terms of the
transaction were disclosed.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group that comprises the nation's
leading provider of neonatal, maternal-fetal and pediatric physician
subspecialty services as well as anesthesia services. Physicians and
advanced practitioners practicing as part of MEDNAX are reshaping the
delivery of care within their specialties and subspecialties, using
evidence-based tools, continuous quality initiatives and clinical
research to enhance patient outcomes and provide high-quality,
cost-effective care. Pediatrix Medical Group, a division of MEDNAX, was
founded in 1979 and now includes neonatal physicians who provide
services at more than 330 neonatal intensive care units, who collaborate
with affiliated maternal-fetal medicine, pediatric cardiology and
pediatric critical care physician subspecialists to provide a clinical
care continuum. Pediatrix is also the nation's largest provider of
newborn hearing screens. In 2007, MEDNAX expanded into anesthesia
services. Today, American Anesthesiology includes more than 1,475
anesthesiologists and advanced practitioners who provide anesthesia care
to patients in connection with surgical and other procedures as well as
pain management. MEDNAX, through its affiliated professional
corporations, employs more than 2,100 physicians in 34 states and Puerto
Rico. Additional information is available at www.mednax.com.
Certain statements and information in this press release may be
deemed to contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. 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. 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 MEDNAX’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
MEDNAX 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 MEDNAX’s
most recent Annual Report on Form 10-K and its Quarterly Reports on Form
10-Q, including the sections entitled “Risk Factors”, as well MEDNAX’s
current reports on Form 8-K, filed with the Securities and
Exchange Commission.
