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MEDNAX Announces Acquisition of Large Neonatology Practice in South Florida

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Oct. 10, 2018-- MEDNAX, Inc. (NYSE: MD), today announced the acquisition of South Dade Neonatology, a private neonatology practice based in Miami.

Founded in 1999, South Dade Neonatology is a well-established group that has provided neonatology services in South Florida for nearly 20 years. Comprising 33 physicians, 17 neonatal nurse practitioners, one physician assistant, 21 newborn hearing screen techs and six administrative staff, the practice provides neonatal care for pre-term newborns and critically ill babies in addition to newborn hearing screens and well-baby coverage. South Dade Neonatology services nine regional hospitals across four counties, including Baptist Hospital; HCA Healthcare’s JFK Medical Center, Kendall Regional Medical Center, Lawnwood Regional Medical Center & Heart Institute, Mercy Hospital, Northwest Medical Center, Palms West Hospital and St. Lucie Medical Center; and Nicklaus Children’s Hospital.

“Partnering with MEDNAX’s leading national physician network will support our continued growth while providing long-term stability in a competitive and uncertain healthcare environment,” said Alex B. Koetzle, M.D., partner, South Dade Neonatology. “Not only do we share the same philosophies, but MEDNAX also has the resources that we have been looking for, including clinical research, education and continuous quality improvement and safety initiatives aimed at improving patient care. Together with MEDNAX, we look forward to further expanding our neonatal services throughout South Florida.”

This acquisition adds to the services MEDNAX provides in Florida through its affiliated network of physicians across multiple specialties, including anesthesiology, maternal-fetal medicine, neonatology, newborn hearing screen, obstetric hospitalist, pediatric cardiology, pediatric hospitalist, pediatric intensive care, pediatric urology and radiology.

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, seven physician group practices have become part of MEDNAX in 2018.

ABOUT MEDNAX

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 approximately 4,175 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.

Source: MEDNAX, Inc.

MEDNAX, Inc.
Charles Lynch, 954-384-0175 ext. 5692
Vice President, Strategy and Investor Relations
charles_lynch@mednax.com