MEDNAX Announces Acquisition of Neonatology Practice in North Carolina

FORT LAUDERDALE, Fla.--()--MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Piedmont Neonatology, P.C., a private neonatal physician group practice based in Greensboro, N.C. The practice will become part of MEDNAX’s Pediatrix Medical Group division, a national group practice consisting of the nation’s leading neonatal, maternal-fetal medicine, pediatric cardiology, and other pediatric specialty physicians.

Piedmont Neonatology consists of six neonatologists who provide a wide spectrum of services including neonatal intensive care; delivery room; and maternal, newborn nursery and emergency department consults at Cone Health Women's Hospital. Physicians at Piedmont Neonatology have been providing services at Women’s Hospital for more than 20 years. Women’s Hospital is the first free-standing hospital in North Carolina dedicated to the care of women and newborns and has a Level III, 36-bed neonatal intensive care unit (NICU). The practice will also begin providing neonatal intensive care services at Alamance Regional Medical Center, beginning on July 1.

“Joining a national group practice was especially appealing as we began to see the impact of healthcare reform on physician groups. Becoming part of Pediatrix Medical Group will reduce our administrative burden and provide leadership in clinical research, education and quality so that we can further develop innovative approaches to neonatal care and enhance the services we provide,” said McCrae Smith, M.D., who will serve as corporate medical director for the practice. “We also look forward to continuing our work with the Perinatal Quality Collaborative of North Carolina and other groups to focus on patient outcomes and increase the value of perinatal healthcare in the state.”

The practice was acquired for cash and the transaction is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.

ABOUT MEDNAX

MEDNAX, Inc. is a national medical group comprised of the nation's leading providers of neonatal, anesthesia, maternal-fetal and pediatric physician subspecialty 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 360 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 1,925 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 2,350 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.

Contacts

MEDNAX, Inc.
Vivian Lopez-Blanco, 954-384-0175, Ext. 5020
Chief Financial Officer/Treasurer
vivian_lopezblanco@mednax.com

Release Summary

MEDNAX, Inc. today announced the acquisition of Piedmont Neonatology, P.C., a private neonatal physician group practice based in Greensboro, N.C.

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Contacts

MEDNAX, Inc.
Vivian Lopez-Blanco, 954-384-0175, Ext. 5020
Chief Financial Officer/Treasurer
vivian_lopezblanco@mednax.com