MEDNAX Buys Pediatric Cardiology Practice in Virginia for Undisclosed Terms

MEDNAX, Inc.

revealed the acquisition of a private physician group, Pediatric Cardiology Associates, which was based in Fairfax, Virginia. According to the company, this was a cash transaction. Therefore, it expects the transaction to be accretive to earnings immediately. The company did not provide any other financial details of the transaction. MEDNAX said that the latest acquisition added to the services it provided in the Northern Virginia and Maryland markets in multiple specialties. That included anesthesiology, maternal-fetal, neonatology, pediatric intensive care, pediatric hospitalist, cardiology, audiology, hearing screen and radiology services. Pediatric Cardiology Associates' Sharon Karr commented about the transaction saying, "We chose to join MEDNAX because of the support and infrastructure that comes with being part of a national medical group. We are comfortable knowing we will have clinical autonomy but be relieved of some of the regulatory and reimbursement responsibilities that have become so complex in today's healthcare environment." MEDNAX indicated that he would serve as medical director for the practice. He continued to add, "In addition, MEDNAX's research, education and quality initiatives will give us the opportunity to engage with other pediatric subspecialty groups and strengthen the continuum of care we offer to our patients." Shares of the company ended Friday with a gain of 3.08 percent.