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Mednax's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Focusing on recent additions and future growth prospects for American Anesthesiology, three of our 10 acquisitions were in anesthesia, with two coming in the fourth quarter. In November, we added Austin Anesthesiology Group, the first Texas-based group to join American Anesthesiology. This group practice employed 66 physicians and 71 cRNA, practicing as part of an anesthesia care team model with annual anesthesia volumes that the practice exceeding 85000 cases. In December, we also announced the acquisition of Burlington Anesthesia Associates in Mount Holly, New Jersey, the first New Jersey practice to join American Anesthesiology. This practice consists of 17 anesthesiologists who practice as part of an anesthesia care team model that employs 25 cRNAs.

Both of these groups by joining MEDNAX are seeking the stability and resources that come with our national group model so that they can focus on doing what they do best taking care of their patients.

With the addition of Texas and New Jersey anesthesia practices, we are expanding beyond the Southeast to our national model as planned. Both of these states are solid geographies for us in our historical pediatric business and now they represent an expanded footprint and the advancement of the American Anesthesiology national model.

We plan to continue this path in 2012 as we expand into states in which we currently have pediatric business while at the same time moving into states which represent a new footprint for American Anesthesiology. Overall, we are not seeing anything that would suggest the level of acquisition activity we've experienced in the recent past will slowdown.

We're managing a very full pipeline that includes practices within our historical neonatal, maternal fetal medicine and pediatric cardiology practices. Additionally, we are confident that now is the time to take our foot off the brake a bit and that we have the team in place to further grow our anesthesia operations.

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