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MEDNAX Announces Acquisition Of Anesthesiology Practice In Knoxville, Tenn.

Stocks in this article: MD

MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Anesthesia Medical Alliance of East Tennessee (AMAET) a physician group practice based in Knoxville, Tenn. that provides anesthesia services at 16 practice locations throughout the East Tennessee region.

AMAET will become part of MEDNAX’s American Anesthesiology division, and is the first Tennessee-based practice to join the division.

AMAET was founded in 2001 and consists of 45 anesthesiologists and 158 anesthetists, providing anesthesia services across a wide spectrum of subspecialty areas including cardiovascular, obstetric, neuroanesthesia, regional anesthesia and pain management.

AMAET serves five hospitals including Parkwest Medical Center, Fort Sanders Regional Medical Center and Physicians Regional Medical Center; eight Ambulatory Surgery Centers; and three hospital-based pain practices.

"Our longstanding relationships with the area’s hospitals and surgeons, combined with American Anesthesiology’s commitment to delivering the highest quality patient care, will be an asset to the communities we serve," said Tucker Gentry, M.D., partner at AMAET.

"We look forward to collaborating with a national medical group of anesthesiologists where we can have an even greater impact on improving anesthesia care and outcomes,” adds Mitch Dickson, M.D., partner at AMAET.

The physicians joining as a result of this transaction will now be part of MEDNAX’s American Anesthesiology division, which consists of more than 1,200 anesthesia providers, including more than 475 physicians and 735 anesthetists practicing in North Carolina, Virginia, Georgia, Florida, Texas, New Jersey, and Tennessee 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 transactions were disclosed.

With this acquisition, eight physician group practices have become part of MEDNAX in 2012, four as part of American Anesthesiology and four as part of Pediatrix Medical Group.

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 1,200 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 1,900 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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