MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Physicians
Anesthesia Associates, P.A., a physician group practice primarily based
in Baltimore, Md. It will be the first Maryland-based anesthesiology
practice to join MEDNAX’s American Anesthesiology division, which now
consists of 24 practices throughout 10 states.
Physicians Anesthesia Associates, which incorporated in 1973, is a
private group practice that employs 48 anesthesiology providers (31
anesthesiologists and 17 anesthetists) and two administrative support
staff providing anesthesia services across a wide spectrum of
subspecialty areas. Physicians in this group have been the sole
providers of anesthesiology services to Greater Baltimore Medical Center
since it opened as a regional medical center in 1965. The practice also
provides services to The Sheppard and Enoch Pratt Hospital and four
surgical centers throughout the greater Baltimore metropolitan area.
Anesthesia services provided include, but are not limited to, general
surgery, neurosurgery (including spine), orthopedic surgery,
ophthalmology, pediatric, obstetric and gynecological, as well as acute
pain management services.
“Knowing the challenges that lie ahead in the changing healthcare
landscape with reform and consolidation, we knew it was the right time
to join a national group practice,” said Lewis Hogge, M.D., who will
serve as medical director for the practice. “We will continue to achieve
excellence in clinical care, but now we will be able to focus more on
our patients, versus the business of healthcare. Further, we look
forward to collaborating with other leading anesthesiologists and taking
part in American Anesthesiology’s advanced research, education and
quality initiatives.”
MEDNAX’s American Anesthesiology division consists of more than 1,850
anesthesia providers, including more than 775 physicians and 1,075
anesthetists practicing in Florida, Georgia, Maryland, Michigan, New
Jersey, New York, North Carolina, Tennessee, Texas, and Virginia.
This was a cash transaction, and it 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 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 1,850
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 2,300 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 2014