Market Overview

MEDNAX Commences $250 Million Accelerated Share Repurchase Program


MEDNAX, Inc. (NYSE:MD), the national medical group specializing in
neonatology, anesthesiology, radiology, maternal-fetal medicine, other
pediatric services, and management services, today announced the
commencement of a $250 million accelerated share repurchase (ASR)
program with Bank of America, N.A.

Under the terms of the ASR, MEDNAX will repurchase $250 million of its
common stock, with an aggregate initial delivery of approximately 4.2
million shares. The final number of shares to be repurchased will be
based on the volume-weighted average share price of the Company's common
stock during the term of the ASR, minus a discount. The final settlement
of the transactions under the ASR agreement is expected to occur in up
to six months. The Company is funding the ASR with borrowings under its
credit facility.

The ASR program is being executed as part of an authorization by
MEDNAX's Board of Directors to repurchase up to $500 million of the
Company's common stock, announced on August 2, 2018.

The $500 million authorization is incremental to the Company's existing
authorization to repurchase its common stock up to an amount sufficient
to offset the dilutive impact from the issuance of shares under MEDNAX's
equity programs. MEDNAX will continue to contemplate various methods to
effect future share repurchases, including, among others, open-market
purchases and additional accelerated share repurchase programs.


MEDNAX, Inc. is a national health solutions partner 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 more than 4,100 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 management
services company and a consulting services company. Additional
information is available at

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 MEDNAX's
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,
with the Securities and Exchange Commission.

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