MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Pediatric Cardiology of Austin, a physician group practice that provides pediatric cardiology services throughout the central Texas region.
The addition of Pediatric Cardiology of Austin to MEDNAX’s Pediatrix Medical Group division brings four cardiologists and 10 other clinical and administrative staff members to the national group practice. The practice is affiliated with 11 hospitals within the Seton Medical System and St. David’s Medical System throughout Austin and surrounding counties, including Dell Children’s Medical Center. Both the Pediatrix and American Anesthesiology divisions of MEDNAX are already established providers of specialty services in the Austin area.
Pediatric Cardiology of Austin was established in 2001 by Ronald Shapiro, M.D. and provides a full spectrum of inpatient and outpatient services including consultations, echocardiography, fetal echocardiography, interventional cardiac catheterizations, treatment of adult congenital heart disease, and pre- and post-operative care for cardiac surgery.
“Our practice’s core values of quality care, customer service and patient satisfaction, are very much aligned with those of Pediatrix Medical Group,” said Ronald Shapiro, M.D., founder and president of Pediatric Cardiology of Austin, “We look forward to being a part of this leading national medical group and collaborating with more than 100 pediatric cardiologists throughout the country. This partnership not only supports our growth prospects but also our infrastructure, and will in turn, benefit our patients within the community.”The physicians and employees joining as a result of this transaction will now be part of MEDNAX’s Pediatrix Medical Group, a national group practice consisting of the nation’s leading neonatal, maternal-fetal medicine, pediatric cardiology, and other pediatric specialty physicians. The 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, five physician group practices have become part of Pediatrix Medical Group and five group practices have become part of American Anesthesiology in 2012.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV