FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD) today announced the signing of a definitive agreement to acquire The NEXus Medical Group, LLC and its subsidiary, Meridian Anesthesia Consultants, LLC in Macon, Georgia.
As part of this transaction, 64 full-time anesthesia providers (15 anesthesiologists and 49 anesthetists) and six other clinical and administrative staff will become part of MEDNAX’s American Anesthesiology division, serving as an integrated physician group practice.
The NEXus Medical Group was established in 2003 and provides anesthesia services across a wide spectrum of subspecialty areas including general surgery, orthopedics, cardiac, obstetric, neurosurgery (including spine) and acute pain management at Medical Center, Navicent Health (formerly the Medical Center of Central Georgia) and its ambulatory surgery center. NEXus, through its subsidiary, Meridian Anesthesia Consultants, also provides services to the Georgia Neurological Institute, another ambulatory surgery center.
“Becoming part of MEDNAX offers us a variety of advantages. We can maintain our group’s culture and autonomy, and when it comes to rapidly changing demands in a post-reform healthcare environment, such as payor negotiations, billing and benchmarking, we now have the support of a national medical group,” said Alvin Sewell, M.D., who will serve as medical director for the practice. “We also look forward to having access to data collected and evaluated at a national level, and being part of the collaborative research, education and quality initiatives we need to maintain successful operations and achieve the best possible outcomes.”
Medical Center, Navicent Health is a designated Level I Trauma Center with 637 inpatient beds and is one of 42 twice-designated Magnet® hospitals for nursing excellence nationwide. It is the second largest hospital in Georgia. MEDNAX’s Pediatrix Medical Group division has been providing neonatology services at the hospital since 2005.
“Our partnership with MEDNAX builds upon our commitment to providing the highest quality, patient-centered care,” said President and CEO Dr. Ninfa M. Saunders, Navicent Health.
“By offering coordinated and integrated clinical care to patients, we can achieve optimized efficiencies, a better patient experience and improved outcomes,” added Chief Clinical Officer at Navicent Health, Fady Wanna, M.D.
MEDNAX’s American Anesthesiology division consists of more than 2,225 anesthesia providers, including more than 925 physicians and 1,300 anesthetists practicing in 13 states.
This is a cash transaction, and it is expected to be immediately accretive to earnings upon closing, which is scheduled for October 31, 2014 subject to normal closing conditions. No additional terms of the transaction were disclosed.
With this acquisition, nine physician group practices have become part of MEDNAX in 2014, seven as part of American Anesthesiology, and two as part of Pediatrix Medical Group.
ABOUT MEDNAX
MEDNAX, Inc. is a national medical group that comprises the nation's leading providers of neonatal, anesthesia, maternal-fetal and pediatric subspecialty services. The Company is reshaping the delivery of care within its 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 360 neonatal intensive care units, and collaborate with affiliated maternal-fetal medicine, pediatric cardiology, pediatric critical care and 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 2,225 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 approximately 2,575 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.
