FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Physicians Anesthesia Associates, P.A., a physician group practice primarily based in Baltimore, Md. It will be the first Maryland-based anesthesiology practice to join MEDNAX’s American Anesthesiology division, which now consists of 24 practices throughout 10 states.
Physicians Anesthesia Associates, which incorporated in 1973, is a private group practice that employs 48 anesthesiology providers (31 anesthesiologists and 17 anesthetists) and two administrative support staff providing anesthesia services across a wide spectrum of subspecialty areas. Physicians in this group have been the sole providers of anesthesiology services to Greater Baltimore Medical Center since it opened as a regional medical center in 1965. The practice also provides services to The Sheppard and Enoch Pratt Hospital and four surgical centers throughout the greater Baltimore metropolitan area. Anesthesia services provided include, but are not limited to, general surgery, neurosurgery (including spine), orthopedic surgery, ophthalmology, pediatric, obstetric and gynecological, as well as acute pain management services.
“Knowing the challenges that lie ahead in the changing healthcare landscape with reform and consolidation, we knew it was the right time to join a national group practice,” said Lewis Hogge, M.D., who will serve as medical director for the practice. “We will continue to achieve excellence in clinical care, but now we will be able to focus more on our patients, versus the business of healthcare. Further, we look forward to collaborating with other leading anesthesiologists and taking part in American Anesthesiology’s advanced research, education and quality initiatives.”
MEDNAX’s American Anesthesiology division consists of more than 1,850 anesthesia providers, including more than 775 physicians and 1,075 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.
MEDNAX, Inc. is a national medical group comprised of the nation's leading providers of neonatal, maternal-fetal and pediatric physician subspecialty services as well as anesthesia 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 330 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 1,850 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 2,300 physicians in 34 states and Puerto Rico. Additional information is available at www.mednax.com.
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