MEDNAX Announces Acquisition Of Anesthesiology Practice In Leesburg, Va.

MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Loudoun Anesthesia Associates, a physician group practice that provides anesthesia services at Inova Loudoun Hospital and Inova Loudoun Ambulatory Surgery Center in Leesburg, Va.

American Anesthesiology has an established relationship with the Inova Health system as part of their first anesthesia acquisition of Fairfax Anesthesiology Associates, Inc. in 2007.

Loudoun Anesthesia Associates was founded in 1994 and consists of 12 anesthesiologists and 17 anesthetists, providing anesthesia services across a wide spectrum of subspecialty areas.

"Joining American Anesthesiology will provide us with the resources we need, from research, education and technology to infrastructure and administrative support, to ensure the future success of our practice," said Lorna Miller, M.D. who will serve as medical director for the American Anesthesiology practice. "We also look forward to collaborating with leading anesthesiologists across the country to help improve overall patient outcomes. This partnership will enable us to continue providing the highest level of care to our patients in this community.”

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 485 physicians and 750 anesthetists practicing in North Carolina, Florida, Georgia, New Jersey, Tennessee, Texas and Virginia, 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, nine physician group practices have become part of MEDNAX in 2012, five 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.

Copyright Business Wire 2010

If you liked this article you might like

Nasdaq Edges Higher as Tech Stocks Rebound, Dow Slips

Nasdaq Edges Higher as Tech Stocks Rebound, Dow Slips

These Stocks Are Making U-Turns

These Stocks Are Making U-Turns

Why the Boardroom Doesn't Need Ivy League Degrees

Why the Boardroom Doesn't Need Ivy League Degrees

Mednax: Solid Growth at a Good Price

Mednax: Solid Growth at a Good Price