FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), today announced its affiliation with Central Coast Perinatal Medical Group, Inc., a private maternal-fetal medicine practice based in Santa Barbara, Calif.
Founded in 1993, Central Coast Perinatal is an established group that has provided perinatal services to the Central Coast community for more than 25 years. Comprising three physicians, the practice specializes in care for expectant mothers, including those with high-risk pregnancies. Central Coast Perinatal provides services to two regional hospitals, Santa Barbara Cottage Hospital and Ventura County Medical Center; one private OBGYN group, San Dimas Medical Group; and two outpatient facilities in Santa Barbara and Ventura.
“Becoming part of the MEDNAX national network gives us the infrastructure we need to excel in today’s evolving healthcare environment while continuing to provide outstanding patient care,” said Alex Soffici, M.D., who will serve as medical director for the practice. “Additionally, MEDNAX’s nationally-recognized research, education and quality initiatives will further enhance our practice and the care we deliver.”
This affiliation adds to the services MEDNAX provides in California through its affiliated network of physicians across multiple specialties, including maternal-fetal medicine, neonatology, newborn hearing screen, obstetric hospitalist, pediatric cardiology, pediatric critical care, pediatric hospitalist and radiology.
MEDNAX’s affiliated physician practices provide excellent Women’s and Children’s care in the Central Coast community. Its physician network provides maternal-fetal medicine, neonatology and pediatric critical care services to nine area hospital partners.
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 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.
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, and include the effects of economic conditions on MEDNAX’s business; the effects of the Affordable Care Act and potential changes thereto or a repeal thereof; MEDNAX’s relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; MEDNAX’s ability to consummate the proposed disposition of MedData; the effects of share repurchases; and the effects of MEDNAX’s shared services and operational initiatives.