FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Central New York (CNY) Anesthesia Group, P.C., a private physician group practice based in Syracuse, N.Y. The practice was acquired by one of the company's affiliated professional contractors in New York.
Established in 1981, CNY Anesthesia Group is a private practice that employs 44 full time equivalent clinicians (29 anesthesiologists, 13 anesthetists and 2 nurse practitioners). The practice provides a wide range of anesthesia care in Onondaga County and the town of Hamilton, N.Y. including general surgery, orthopedic, obstetric, plastic/reconstructive and ophthalmology. CNY Anesthesia Group provides services to Crouse Hospital network which includes Crouse Hospital, Madison Irving Surgery Center and Physicians Office Building Surgery Center. In addition, services are also provided to Community Memorial Hospital and Camillus Surgery Center.
“Joining an organization with the size, scope, reputation and infrastructure of MEDNAX gives our practice the support needed to steadily navigate today’s rapidly changing healthcare environment while maintaining the clinical autonomy of our practice,” said Robert Black, M.D., who will serve as medical director for the practice. “We look forward to participating in and benefiting from MEDNAX’s research, education and quality programs which will benefit our patients and position us for long-term growth.”
This acquisition adds to the services MEDNAX provides in New York through its affiliated professional contractors across multiple specialties which include anesthesiology, neonatology, newborn hearing screen 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, 13 physician group practices have become part of MEDNAX in 2016.
ABOUT MEDNAX
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 3,575 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.
