MEDNAX Announces Acquisition of Illinois-based Anesthesiology Practices

American Anesthesiology division enters two new states

FORT LAUDERDALE, Fla.--()--MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Associated Anesthesiologists of Joliet, S.C., a private physician group practice based in Joliet, Ill., and its related entities: Madison Avenue Anesthesia Placement Services, LLC, Crawford Avenue Anesthesia Placement Services, LLC and Pain Centers of Chicago, LLC.

At closing, 85 full-time anesthesia providers (37 anesthesiologists and 48 anesthetists) and 12 other clinical and administrative staff will become part of MEDNAX’s American Anesthesiology division, and serve as one integrated practice providing care in Southern Illinois and Northern Indiana. This marks the division’s entry into these two states.

Associated Anesthesiologists of Joliet was established in 1971 and later formed three related entities that together provide anesthesia services across a wide spectrum of subspecialty areas including general surgery, cardiac, neurosurgery (including spine), orthopedic, obstetrics and acute and chronic pain management at 12 locations. These include two Methodist Hospitals and a related ambulatory surgery center, as well as four Presence Health hospitals and a related ambulatory surgery center and pain center. Presence Health is the largest Catholic health system in Illinois, and its flagship hospital in Joliet has the fifth largest surgical volume in the state.

“Becoming part of a national medical group was essential for the future of our practice as hospital needs and data requirements rapidly change in this new era of healthcare reform,” said Ronald Hayes, M.D., who will serve as medical director for the practice. “American Anesthesiology’s back-office support and expertise in credentialing, nationally-sourced recruiting and other crucial business needs, combined with the company’s leadership in research, education and quality initiatives, will give us the opportunity to grow and most importantly, to positively impact patient outcomes and patient satisfaction.”

MEDNAX’s American Anesthesiology division consists of more than 2,150 anesthesia providers, including more than 900 physicians and 1,250 anesthetists practicing in 12 states.

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, seven physician group practices have become part of MEDNAX in 2014, six as part of American Anesthesiology, and one as part of Pediatrix Medical Group.

ABOUT MEDNAX

MEDNAX, Inc. is a national medical group that comprises the nation's leading providers of neonatal, anesthesia, maternal-fetal and pediatric medical and surgical subspecialty services. The Company is reshaping the delivery of care within its 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 division of MEDNAX, was founded in 1979 and includes neonatal physicians who provide services at more than 360 neonatal intensive care units, and collaborate with affiliated maternal-fetal medicine, pediatric cardiology, pediatric critical care and physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation's largest provider of newborn hearing screens. American Anesthesiology, a division of MEDNAX, was established in 2007 and includes more than 2,150 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 approximately 2,500 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 Associated Anesthesiologists of Joliet, S.C., a private physician group practice based in Joliet, Ill., and its related entities.

Sharing

Contacts

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