MEDNAX Announces Acquisition of Anesthesiology Practice in Tennessee
05 Gennaio 2015 - 1:00PM
Business Wire
MEDNAX, Inc., (NYSE: MD) today announced the acquisition,
effective December 31, 2014, of Metropolitan Anesthesia Alliance,
PLLC, a private physician group practice based in Memphis, Tenn.
The practice will become part of MEDNAX’s American Anesthesiology
division and represents the Company's fourth anesthesiology
practice acquisition in Tennessee.
Metropolitan Anesthesia Alliance was established in 2001
following the merger of Affiliated Anesthesiologists, Medical
Center Anesthesiologists and Anesthesia Specialists of Tennessee.
The practice employs 73 full-time anesthesia providers (27
anesthesiologists and 46 anesthetists) at several Baptist Memorial
Health Care hospitals and ambulatory surgery centers, as well as
four office-based clinics throughout the Memphis metropolitan area.
Baptist Memorial Health Care is the largest health care system in
the Mid-South.
The practice’s anesthesia services include general surgery,
cardiac, vascular, orthopedic, neurosurgery (including spine),
obstetric, pediatric and acute pain management.
“In an era of increasing bureaucracy, shrinking reimbursement
and growing quality and performance expectations, our practice
needed the support of a national medical group,” said Rodger
Funderburg, M.D., who will serve as medical director for the
practice. “Access to American Anesthesiology’s research, education,
quality and patient safety initiatives, as well as the Quantum
Clinical Navigation System™, will help us provide better care to
our patients and further solidify our relationships with our
hospital partners as the healthcare industry evolves and becomes
more complex.”
MEDNAX’s American Anesthesiology division consists of more than
2,350 anesthesia providers, including more than 950 physicians and
1,400 anesthetists practicing in 13 states.
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 and a one-physician pediatric cardiology
practice in Tennessee, also acquired during the fourth quarter, 11
physician group practices became part of MEDNAX in 2014, eight as
part of American Anesthesiology, and three as part of Pediatrix
Medical Group. In addition, MEDNAX completed two non-practice
acquisitions. The total purchase price for the 13 acquisitions
completed during 2014 was over $490 million, consisting of closing
cash and contingent consideration, MEDNAX's highest level of annual
acquisition spend to date.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the
nation's leading providers of neonatal, anesthesia, maternal-fetal
and pediatric physician subspecialty 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 360 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 2,350 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 2,625 physicians in 34 states and
Puerto Rico. 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.
MEDNAX, Inc.Charles Lynch, 954-384-0175, x 5692Vice President,
Strategy and Investor Relationscharles_lynch@mednax.com
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