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MEDNAX, Inc. (NYSE: MD), the national medical group specializing in neonatal, maternal-fetal, pediatric cardiology, other pediatric subspecialties and anesthesia physician services, today reported earnings of $1.32 per share for the three months ended December 31, 2012.
For the 2012 fourth quarter compared to the prior year period, MEDNAX reported:
Revenue growth of 16.4 percent to $471.3 million;
Net income growth of over 13 percent to $66.1 million; and
Cash flow from operations growth of approximately 18 percent to $106 million.
For the 2012 full year compared to the prior year period, MEDNAX reported:
Revenue growth of 14.4 percent to $1.82 billion;
Net income growth of over 10 percent to $240.9 million; and
Cash flow from operations growth of approximately 20 percent to $326 million.
During 2012, a total of 16 physician group practices have become part of MEDNAX, with eight physician group practices becoming part of American Anesthesiology and eight group practices becoming part of Pediatrix Medical Group.
“Our solid 2012 fourth quarter and full year results reflect our unique, proven, and time-tested growth model of attracting, acquiring and integrating physician group practices,” said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. “We are very encouraged by the strategic roadmap that we have planned out for 2013, which reflects the size, depth and breadth of our full and robust pipeline. This acquisition pipeline is a result of the core competencies and operational strengths that bring practices to our national group practice model, along with the uncertainties related to the ever-changing healthcare and regulatory environment.”
For the three months ended December 31, 2012, MEDNAX’s net patient service revenue increased by 16.4 percent, to $471.3 million, from $404.9 million for the comparable prior-year period.