FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Texas Ear, Nose & Throat Consultants, PLLC, locally-known as Children’s ENT of Houston, located in Houston, Texas.
Children’s ENT of Houston is a private physician group practice with three office-based locations that employ three ENT specialists, two audiologists, two nurse practitioners and 15 other clinical and administrative staff. The practice, through a related entity included in the transaction, performs more than 15,000 newborn hearing screens annually at The Woman’s Hospital of Texas, Children's Memorial Hermann Hospital and Conroe Regional Medical Center. The practice has been providing hearing screen services at Woman's Hospital since 2005.
“We are excited about this partnership because our patients will ultimately benefit from the infrastructure and support that MEDNAX provides to address the challenges of an increasingly complex healthcare industry. This will allow our team of healthcare professionals to concentrate wholly on what is best for our patients,” said Joseph Edmonds, M.D., who will serve as medical director for the practice. “In addition, being part of a physician-led, national medical group that is committed to research, education and quality, will allow us to contribute to research that will improve the quality of care for our patients and our community.”
The acquisition of Children’s ENT expands the continuum of care MEDNAX currently provides at The Woman’s Hospital of Texas, which includes perinatal services, neonatal services at the hospital's Level II and Level III neonatal intensive care units, pediatric cardiology and anesthesia. It also enhances the services MEDNAX provides throughout the greater-Houston market.
This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group comprised of the nation's leading providers of neonatal, anesthesia, maternal-fetal and pediatric physician subspecialty 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 division of MEDNAX, was founded in 1979 and includes neonatal physicians who provide services at more than 370 neonatal intensive care units, and collaborate with affiliated maternal-fetal medicine, pediatric cardiology, pediatric critical care and other 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 2,400 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 2,650 physicians in 34 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to medical providers 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.
