MEDNAX Announces Acquisition of Anesthesiology Practice in Virginia

FORT LAUDERDALE, Fla.--()--MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Fredericksburg Anesthesia Associates, Inc., a private practice physician group based in Fredericksburg, Va. The practice will become part of MEDNAX’s American Anesthesiology division and is the third Virginia-based anesthesia practice to join the division.

Fredericksburg Anesthesia Associates employs 16 anesthesiologists who provide anesthesia services as part of a care team model that includes anesthetists at Mary Washington Hospital, Stafford Hospital and Fredericksburg Ambulatory Surgery Center. Their services include general surgery, orthopedic, cardiovascular, thoracic, neurosurgery (including spine), pediatric, obstetric and gynecological, as well as acute pain management. The practice’s founding physicians began providing anesthesia services to Fredericksburg and surrounding communities in 1965 and the practice was incorporated in 1992.

“We chose to partner with American Anesthesiology to ensure that our group can continue to focus on patient care and outcomes in an increasingly competitive and complicated healthcare environment,” said W. Scott Brosche, M.D., who will serve as medical director for the practice. “The company’s proven integration process ensures that we will have strong support in the areas of practice management, clinical quality initiatives, research and education, yet maintain clinical autonomy so we can do what we do best – take care of our patients.”

MEDNAX’s American Anesthesiology division consists of more than 1,950 anesthesia providers, including more than 825 physicians and 1,125 anesthetists practicing in Florida, Georgia, Maryland, Michigan, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia.

This was a cash transaction, and it 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 1,950 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.
Charles Lynch, 954-384-0175, x 5692
Vice President, Strategy and Investor Relations
charles_lynch@mednax.com

Release Summary

MEDNAX, Inc. today announced the acquisition of Fredericksburg Anesthesia Associates, Inc., a private practice physician group based in Fredericksburg, Va.

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Contacts

MEDNAX, Inc.
Charles Lynch, 954-384-0175, x 5692
Vice President, Strategy and Investor Relations
charles_lynch@mednax.com