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MEDNAX Announces Acquisition of Leading Tennessee Radiology Practice

MD | November 1, 2018

MEDNAX Announces Acquisition of Leading Tennessee Radiology Practice

MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Associates in Diagnostic Radiology, P.C., a private radiology physician group based in Chattanooga, Tenn. The practice will integrate with Radiology Alliance, P.C., a MEDNAX-affiliated physician practice located in Nashville.

This marks the Company’s eighth radiology services practice acquisition, further establishing MEDNAX Radiology Solutions as an industry leader, an innovator in health care informatics and a pioneer in telemedicine.

Associates in Diagnostic Radiology was established in 1974. Comprising 14 board certified and subspecialty-trained physicians, the practice specializes in diagnostic imaging, interventional radiology, neuroradiology, pediatric radiology, neuro-interventional radiology, body imaging, musculoskeletal imaging and nuclear medicine. It provides services to Parkridge East Hospital, Parkridge West Hospital, Parkridge Medical Center and Parkridge Medical Group – Diagnostic Center. In addition, the group services five imaging center facilities, including Chattanooga Imaging’s Downtown, East, Hixson and Ooltewah locations as well as Cleveland Imaging.

“Our strategic partnership with MEDNAX will greatly enhance the delivery of our services and offer continued, long-term growth,” said Martin Simms, M.D., president of Associates in Diagnostic Radiology. “We look forward to the many benefits of joining a top national practice and collaborating with our colleagues across the country to provide cutting-edge, high-quality care.”

Upon completion of the transaction, MEDNAX’s affiliated radiologists will read more than 11.7 million studies annually.

This was a cash transaction and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.

With this acquisition, eight physician group practices have become part of MEDNAX in 2018.

ABOUT MEDNAX

MEDNAX, Inc. is a national health solutions partner based in Sunrise, Fla. comprised of the nation's leading providers of physician 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, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 4,200 physicians in all 50 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to healthcare facilities and physicians in over 40 states through two complementary businesses, consisting of a revenue cycle management company and a consulting services company. 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.