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MEDNAX Announces Acquisitions Of Anesthesiology Practice In Tennessee And Pediatric Surgery Practice In Texas

Stocks in this article: MD

MEDNAX, Inc., (NYSE: MD) today announced the acquisitions of Anesthesiologists Associated, P.C., a private physician group practice that provides anesthesia services in the Chattanooga, Tenn. metropolitan area, and Pediatric Surgical and Associates, a pediatric surgery physician group practice serving the Dallas-Fort Worth Metroplex and surrounding North Texas area. The due diligence process for these two acquisitions was ongoing over the last several months, resulting in both acquisitions being closed and effective as of December 31, 2012.

Anesthesiologists Associated consists of 34 anesthesiologists, 100 anesthetists and 24 other clinical and administrative staff, providing anesthesia care at four hospitals and two surgery centers. The practice, which is one of the longest standing physician group practices in Tennessee, offers anesthesia services across a wide spectrum of subspecialty areas, including orthopedic, cardiac, and oncology.

“Faced with an uncertain healthcare environment, we were looking to partner with an established national medical group with a long track record of successful practice management,” said Chris Yetter, M.D., who will serve as medical director of the practice. “The resources American Anesthesiology will provide, such as research and education, clinical support, and administrative infrastructure, will allow us to provide the highest quality care to our patients moving forward.”

The physicians joining as a result of this transaction will now be part of MEDNAX’s American Anesthesiology division, which consists of more than 1,475 anesthesia providers, including more than 600 physicians and 875 anesthetists practicing in North Carolina, Florida, Georgia, Michigan, New Jersey, Tennessee, Texas and Virginia, with administrative offices in Sunrise, Fla. and Raleigh, N.C.

The acquisition of Plano-based Pediatric Surgical and Associates brings six pediatric surgeons and 15 other clinical and administrative staff who provide pediatric general and thoracic surgical care of infants, children, and adolescents, to MEDNAX’s Pediatrix Medical Group division. This is the second pediatric surgery group to join the division.

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