MEDNAX Announces Acquisition of Maternal-Fetal Medicine Practice in Georgia
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- MEDNAX, Inc., (NYS: MD) today announced the acquisition of a maternal-fetal medicine physician practice based in Lithia Springs, Georgia. The practice will become part of MEDNAX's Pediatrix Medical Group division.
Raj K. Bansal, M.D., P.C., was established in 2002 and is a private practice that consists of one maternal-fetal medicine physician and eight clinical and administrative support staff who provide care to expectant mothers, including the management of high-risk and complicated pregnancies, throughout the Atlanta area. The practice provides maternal-fetal services at five area hospitals, including Wellstar Cobb Hospital, Wellstar Douglas Hospital, Wellstar Kennestone Hospital, Piedmont Hospital and Atlanta Medical Center.
"Given the changing and uncertain healthcare environment, we felt that now is the ideal time to partner with a leading national medical group practice," said Raj Bansal, M.D., who will serve as medical director for the practice. "We look forward to experiencing the support of a national administrative infrastructure that allows us the opportunity to spend more time caring for our patients."
Dr. Bansal will now be part of MEDNAX's Pediatrix Medical Group, a national medical group 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 its earnings. No additional terms of the transaction were disclosed.
With this acquisition, 13 physician group practices have become part of MEDNAX in 2012, seven as part of Pediatrix Medical Group, and six as part of American Anesthesiology.
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 1,250 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 1,925 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
KEYWORDS: United States North America Florida Georgia
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