FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--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.
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.
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