FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Palm Beach Pediatric Urology, PA, a private pediatric urology physician practice based in Palm Beach, Fla.
Established in 2000, Palm Beach Pediatric Urology employs two physicians, one nurse practitioner, three medical assistants and 12 non-clinical associates. The practice provides consults for all pediatric and fetal genitourinary disorders; bladder, kidney and genitalia reconstructive and corrective surgery; cystoscopy; circumcision; ultrasound; and urinalysis services to children. Palm Beach Pediatric Urology has five patient offices and provides services to seven regional hospitals, including Boca Raton Regional Hospital, West Boca Medical Center, Bethesda Hospital East, St. Mary’s Medical Center, Palms West Hospital, Jupiter Medical Center and Lawnwood Regional Medical Center.
“I greatly respect the MEDNAX national network as I have had the unique pleasure of watching the Company grow from its early beginnings at many of the local hospitals I’ve been on staff at for the past 22 years,” said Charles E. Flack, M.D., who will serve as medical director for the practice. “As the premier group providing pediatric urologic care in six counties, this partnership will allow Palm Beach Pediatric Urology to continue to flourish and hopefully set a new standard of services for this niche subspecialty in Florida and beyond.”
This acquisition adds to the services MEDNAX provides in Florida through its affiliated network of physicians across multiple specialties which include anesthesiology, maternal-fetal medicine, neonatology, newborn hearing screens, obstetric hospitalist, pediatric cardiology, pediatric hospitalist, pediatric intensive care, pediatric surgery and radiology.
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, nine physician group practices have become part of MEDNAX in 2017.
MEDNAX, Inc. is a national health solutions partner based in Sunrise, Fla. 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 3,850 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.