FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Radiology Specialists, LTD, a private radiology physician group based in Las Vegas. This marks the Company’s seventh radiology services practice acquisition and first in the state of Nevada, further establishing MEDNAX Radiology Solutions as a recognized leader in radiology, an innovator in health care informatics and a pioneer in telemedicine.
Comprising 25 board certified and fellowship trained physicians, the practice provides a broad range of diagnostic and interventional radiology services, including body imaging, neuroradiology, musculoskeletal imaging, cardiac imaging, breast imaging, pediatric radiology, nuclear medicine and image guided therapy. For more than 50 years, it has partnered with Sunrise Health, servicing Sunrise Hospital & Medical Center, Southern Hills Hospital & Medical Center, Sunrise Children’s Hospital and MountainView Hospital.
"As a leading, high-performance radiology practice notably serving Nevada's only Comprehensive Stroke Center, we recognize that our continuing success relies upon timely adaptation to a dynamic radiology environment, with the groups most responsive to change at a distinct advantage,” said Sean D. Beaty, M.D., president of Radiology Specialists. “In partnering with MEDNAX, we are confident that we will successfully navigate the many current challenges that radiology practices face. MEDNAX shares our mission to provide measurable, high-quality radiology services to achieve the greatest possible benefit for the patients, clinicians and facilities that we serve."
Upon completion of the transaction, MEDNAX’s affiliated radiologists will read more than 11.5 million studies annually.
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, six physician group practices have become part of MEDNAX in 2018.
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 4,100 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.