FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Radiology Alliance, PC and Infinity Management, LLC based in Nashville, Tenn.
Founded in 2001, Radiology Alliance, PC is the largest private practice radiology group in Tennessee. Comprised of 64 physicians and 6 clinical support staff, the practice provides diagnostic radiology, interventional radiology, women’s imaging, and nuclear medicine services to nine TriStar Health System hospitals in Middle Tennessee, hospitals in Southern Kentucky, and many other treatment and outpatient imaging centers. Infiniti Management is a comprehensive medical management platform, offering a variety of services and solutions to Radiology Alliance and other radiology practices across the central Tennessee and Kentucky regions.
“I’m proud to be announcing that Radiology Alliance will be the first on-site radiology group to join MEDNAX,” said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. “We believe the technological capabilities MEDNAX offers through vRad, combined with our own practice-management expertise and physician-centric leadership, make us an extremely valuable partner to radiology practices. I’m excited at the opportunities we have with Radiology Alliance, particularly given this group’s long-standing leadership position in radiology and its partnership with TriStar Health. Together, Radiology Alliance and MEDNAX leadership share a common vision of becoming a recognized national leader in radiology by combining on-site radiology excellence with world-class technology, analytics and telemedicine capabilities.”
Radiology Alliance physicians are all board certified and many have received extensive training in the complex subspecialties of interventional radiology, musculoskeletal radiology, neuroradiology, nuclear medicine, oncology imaging and women's imaging.
“Our partnership with MEDNAX will allow Radiology Alliance to maintain and enhance our strong on site physician footprint with our hospital partners, and also will provide the IT platform and remote technology to expand our coverage in an efficient and highly specialized manner,” said Jason Shipman, M.D., President of Radiology Alliance. “In addition, we look forward to having the size and scale of a national network to grow our presence as a radiology leader in a changing health care environment, and to having access to a robust data analytics platform to ensure success as new payment models are developed.”
This was a cash and equity transaction and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
MEDNAX, Inc. is a national health solutions partner comprised of the nation's leading providers of physician 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, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 3,650 physicians in all 50 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to healthcare facilities and physicians in over 40 states through two complementary businesses, consisting of a revenue cycle management company and a consulting services company. 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.