MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Florida Atlantic Anesthesia, Inc., a physician group practice that provides anesthesia services in Fort Lauderdale, Fla.
Florida Atlantic Anesthesia consists of 24 anesthesiologists and five full-time anesthetists. The practice provides anesthesia services at Holy Cross Hospital and Holy Cross HealthPlex, both located in Fort Lauderdale. The Pediatrix division of MEDNAX is also an established provider of NICU services at Holy Cross Hospital.
Florida Atlantic Anesthesia was founded in 1998 and provides anesthesia services across a wide spectrum of subspecialty areas including cardiology, orthopedics, endoscopy procedures and plastic surgery.
“As one of the area’s leading anesthesiology practices, we realized we needed to be prepared for today’s changing healthcare environment,” said Alan Cordover, M.D., who will serve as the medical director of the American Anesthesiology practice. “Being part of American Anesthesiology’s proven national group model will provide us with the resources we need, such as research, education, technology, infrastructure and administrative support, to allow us to focus on superior clinical care and the best patient outcomes into the future.”The physicians joining as a result of this transaction will now be part of MEDNAX’s American Anesthesiology division, which consists of more than 1,000 anesthesia providers, including more than 430 physicians and 580 anesthetists practicing in North Carolina, Virginia, Georgia, Florida, Texas, and New Jersey, with administrative offices in Sunrise, Fla. and Raleigh, N.C. This 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, four physician group practices have become part of Pediatrix Medical Group and three group practices have become part of American Anesthesiology in 2012. ABOUT MEDNAX MEDNAX, Inc. is a national medical group that comprises the nation's leading provider 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 300 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 1,000 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 1,875 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.
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