MEDNAX, Inc. (NYSE: MD) today announced the signing of a
definitive agreement to acquire The NEXus Medical Group, LLC and
its subsidiary, Meridian Anesthesia Consultants, LLC in Macon,
Georgia.
As part of this transaction, 64 full-time anesthesia providers
(15 anesthesiologists and 49 anesthetists) and six other clinical
and administrative staff will become part of MEDNAX’s American
Anesthesiology division, serving as an integrated physician group
practice.
The NEXus Medical Group was established in 2003 and provides
anesthesia services across a wide spectrum of subspecialty areas
including general surgery, orthopedics, cardiac, obstetric,
neurosurgery (including spine) and acute pain management at Medical
Center, Navicent Health (formerly the Medical Center of Central
Georgia) and its ambulatory surgery center. NEXus, through its
subsidiary, Meridian Anesthesia Consultants, also provides services
to the Georgia Neurological Institute, another ambulatory surgery
center.
“Becoming part of MEDNAX offers us a variety of advantages. We
can maintain our group’s culture and autonomy, and when it comes to
rapidly changing demands in a post-reform healthcare environment,
such as payor negotiations, billing and benchmarking, we now have
the support of a national medical group,” said Alvin Sewell, M.D.,
who will serve as medical director for the practice. “We also look
forward to having access to data collected and evaluated at a
national level, and being part of the collaborative research,
education and quality initiatives we need to maintain successful
operations and achieve the best possible outcomes.”
Medical Center, Navicent Health is a designated Level I Trauma
Center with 637 inpatient beds and is one of 42 twice-designated
Magnet® hospitals for nursing excellence nationwide. It is the
second largest hospital in Georgia. MEDNAX’s Pediatrix Medical
Group division has been providing neonatology services at the
hospital since 2005.
“Our partnership with MEDNAX builds upon our commitment to
providing the highest quality, patient-centered care,” said
President and CEO Dr. Ninfa M. Saunders, Navicent Health.
“By offering coordinated and integrated clinical care to
patients, we can achieve optimized efficiencies, a better patient
experience and improved outcomes,” added Chief Clinical Officer at
Navicent Health, Fady Wanna, M.D.
MEDNAX’s American Anesthesiology division consists of more than
2,225 anesthesia providers, including more than 925 physicians and
1,300 anesthetists practicing in 13 states.
This is a cash transaction, and it is expected to be immediately
accretive to earnings upon closing, which is scheduled for October
31, 2014 subject to normal closing conditions. No additional terms
of the transaction were disclosed.
With this acquisition, nine physician group practices have
become part of MEDNAX in 2014, seven as part of American
Anesthesiology, and two as part of Pediatrix Medical Group.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group that comprises the
nation's leading providers of neonatal, anesthesia, maternal-fetal
and pediatric subspecialty services. The Company is reshaping the
delivery of care within its 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 division of MEDNAX,
was founded in 1979 and includes neonatal physicians who provide
services at more than 360 neonatal intensive care units, and
collaborate with affiliated maternal-fetal medicine, pediatric
cardiology, pediatric critical care and physician subspecialists to
provide a clinical care continuum. Pediatrix is also the nation's
largest provider of newborn hearing screens. American
Anesthesiology, a division of MEDNAX, was established in 2007 and
includes more than 2,225 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
approximately 2,575 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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