MEDNAX Announces Acquisition of Anesthesiology Practice in New York
American Anesthesiology Division Makes Entry into Ninth State
FORT LAUDERDALE, Fla. -- June 11, 2013
MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Anesthesia Group
of Onondaga, P.C., a physician group practice based in Syracuse, New York, to
MEDNAX’s American Anesthesiology division. The practice, which was acquired by
one of the company's affiliated professional contractors in New York, is the
first New York-based anesthesiology practice to join the division, which now
consists of 20 practices throughout nine states.
Anesthesia Group of Onondaga is a private group practice that employs 20
anesthesiologists, 22 anesthetists and four other clinical and administrative
staff. The practice provides services across a wide spectrum of subspecialty
areas, including critical care, orthopedics, cardiac, obstetrics, pediatrics
and acute pain management and has been the sole provider of anesthesia
services to St. Joseph’s Hospital Health Center since 1975. Anesthesia Group
of Onondaga also provides services to the hospital’s affiliated surgery
centers, Northeast Surgery Center and North Medical Surgery Center.
“We believe that American Anesthesiology’s core values of commitment to
quality of care, research and education and patient satisfaction are very much
aligned with our own,” said Ralph Firestone, M.D., who will serve as medical
director for the American Anesthesiology practice. “We found in them a partner
that offered superior clinical expertise as well as business and
administrative infrastructure to positively impact our practice and most
importantly, our patient outcomes, which is essential in today’s uncertain
MEDNAX’s American Anesthesiology division consists of more than 1,650
anesthesia providers, including more than 675 physicians and 975 anesthetists
practicing in Florida, Georgia, Michigan, New Jersey, New York, North
Carolina, Tennessee, Texas, and Virginia.
MEDNAX’s Pediatrix Medical Group division currently provides neonatal
intensive care services at St. Joseph’s Hospital.
This was a cash transaction, and it is expected to be immediately accretive to
earnings. No additional terms of the transaction were disclosed.
With this acquisition, four physician group practices have become part of
MEDNAX in 2013, three as part of American Anesthesiology, and one as part of
Pediatrix Medical Group.
MEDNAX, Inc. is a national medical group comprised of the nation's leading
providers 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 330 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 1,650 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 2,175 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.
David T. Parker, 954-384-0175, x 5300
Vice President, Investor Relations & Corporate Communications
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