MEDNAX, Inc. (NYSE:MD), the national medical group specializing in
neonatal, maternal-fetal, pediatric cardiology, other pediatric
subspecialties and anesthesia physician services, today announced that
its Board of Directors authorized a two-for-one split of MEDNAX’s common
stock. Shareholders of record on the effective date of December 19, 2013
will receive one additional share of MEDNAX common stock for each share
of MEDNAX common stock then held, without any further action on the part
of MEDNAX’s shareholders. Shareholders do not need to exchange existing
stock certificates and will receive additional shares as a result of the
stock split through the Direct Registration System on December 20, 2013.
In order to complete the stock split, MEDNAX’s Board of Directors has
also authorized the amendment of the Company’s Articles of Incorporation
to increase the number of authorized shares of common stock from 100
million to 200 million.
“We are proud of the value MEDNAX has delivered to our shareholders over
the long-term. This stock split is the result of the Company’s strong
financial and stock price performance and reflects our continued
confidence in MEDNAX’s long-term growth opportunities, as well as our
ongoing determination to continue building long-term shareholder value,”
said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. Prior to
this action, the most recent MEDNAX stock split occurred in 2006.
The Company’s common stock trades on the New York Stock Exchange under
the symbol MD and is expected to trade on a post-split basis at the
opening of trading on December 20, 2013. Upon completion of the stock
split, MEDNAX will have approximately 101 million shares of common stock
outstanding.
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 1,700
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 2,200 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