MEDNAX MD today announced the acquisition of Summit Anesthesia
Associates, P.A., a physician group practice primarily based in Summit, New
Jersey. The practice will become part of MEDNAX's American Anesthesiology
division and is the second New Jersey-based anesthesiology practice to join
this division.
Established in 1993, Summit Anesthesia Associates is a private group practice
that employs 37 anesthesiologists, eight anesthetists and three other clinical
and administrative staff, providing anesthesia services across a wide spectrum
of subspecialty areas at Overlook Medical Center as well as at several
ambulatory and radiology centers. Services include, but are not limited to,
neurosurgery (including spine), pediatric, obstetric, gynecological,
orthopedic, cosmetic, general surgery and acute pain management.
“Joining American Anesthesiology is a great fit for us, both clinically and
culturally because our goals are very much aligned,” said Glen Paris, M.D.,
who will serve as medical director for the practice. “American
Anesthesiology's clinical research, education and quality initiatives will
serve to further support the high quality care we have provided our patients
for more than 20 years. And, the stability of a national medical group with a
reputation for strong back-office infrastructure and efficiencies will enhance
our business operations, as our country's healthcare environment continues to
become more complex.”
MEDNAX's American Anesthesiology division consists of more than 1,750
anesthesia providers, including more than 750 physicians and 1,000
anesthetists practicing in Florida, Georgia, Michigan, New Jersey, New York,
North Carolina, Tennessee, Texas, and Virginia.
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, 11 physician group practices have become part of MEDNAX
in 2013, six as part of American Anesthesiology, and five as part of Pediatrix
Medical Group.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's leading
providers of neonatal, maternal-fetal and pediatric physician subspecialty
services as well as anesthesia 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 330 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 1,750 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 2,250 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.
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