MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Neonatal
Intensive Care Associates, a neonatal physician group practice based in
Lubbock, Texas. The practice will become part of MEDNAX’s Pediatrix
Medical Group division, a national group practice consisting of the
nation’s leading neonatal, maternal-fetal medicine, pediatric
cardiology, and other pediatric specialty physicians.
Established in 1990, Neonatal Intensive Care Associates is a private
practice that consists of three neonatologists who provide a wide
spectrum of services, including neonatal intensive care, labor and
delivery, newborn nursery, and maternal consults at Covenant Women’s &
Children’s Hospital. The hospital has a Level III, 38-bed neonatal
intensive care unit (NICU).
“Pediatrix will provide our practice with the office infrastructure and
support we need to focus fully on patient care and outcomes,” said Edwin
Contreras, M.D., who will serve as medical director for the practice.
“In today’s complex healthcare environment, partnering with a leading
national medical group with a proven track record of neonatal excellence
and a commitment to quality, research and education is the best decision
we can make for our patients.”
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.
With this acquisition, five physician group practices have become part
of MEDNAX in 2013, two as part of Pediatrix Medical Group, and three as
part of American Anesthesiology.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's
leading providers 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 unit 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 1,650
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 2,175 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.
Copyright Business Wire 2013