FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Associates in Diagnostic Radiology, P.C., a private radiology physician group based in Chattanooga, Tenn. The practice will integrate with Radiology Alliance, P.C., a MEDNAX-affiliated physician practice located in Nashville.
This marks the Company’s eighth radiology services practice acquisition, further establishing MEDNAX Radiology Solutions as an industry leader, an innovator in health care informatics and a pioneer in telemedicine.
Associates in Diagnostic Radiology was established in 1974. Comprising 14 board certified and subspecialty-trained physicians, the practice specializes in diagnostic imaging, interventional radiology, neuroradiology, pediatric radiology, neuro-interventional radiology, body imaging, musculoskeletal imaging and nuclear medicine. It provides services to Parkridge East Hospital, Parkridge West Hospital, Parkridge Medical Center and Parkridge Medical Group – Diagnostic Center. In addition, the group services five imaging center facilities, including Chattanooga Imaging’s Downtown, East, Hixson and Ooltewah locations as well as Cleveland Imaging.
“Our strategic partnership with MEDNAX will greatly enhance the delivery of our services and offer continued, long-term growth,” said Martin Simms, M.D., president of Associates in Diagnostic Radiology. “We look forward to the many benefits of joining a top national practice and collaborating with our colleagues across the country to provide cutting-edge, high-quality care.”
Upon completion of the transaction, MEDNAX’s affiliated radiologists will read more than 11.7 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, eight 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 4,200 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.
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