FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--End of second paragraph of press release should read: "...surgery to patients at Methodist Children’s Hospital of South Texas and its ambulatory surgery center (ASC), The Children’s Hospital of San Antonio, North Central Baptist Hospital and University Hospital." (instead of: "...surgery to patients at Methodist Children’s Hospital of South Texas and its ambulatory surgery center (ASC), CHRISTUS Santa Rosa Children's Hospital, North Central Baptist Hospital and University Hospital.")
The corrected release reads:
MEDNAX ANNOUNCES ACQUISITION OF PEDIATRIC EAR, NOSE AND THROAT INSTITUTE OF SOUTH TEXAS
MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Pediatric Ear, Nose and Throat Institute of South Texas, P.A. (PENT), located in San Antonio, Texas.
PENT is a private physician group practice that provides all aspects of ear, nose and throat medical, audiology and surgical services, including ear tubes, tonsillectomies and sinus surgery to patients at Methodist Children’s Hospital of South Texas and its ambulatory surgery center (ASC), The Children’s Hospital of San Antonio, North Central Baptist Hospital and University Hospital.
“Being part of MEDNAX will help grow our practice and support the patient care continuum,” said Donald Moe, M.D., who will serve as medical director for the practice. “With the organization’s proven success in providing infrastructure and practice integration, our practice can focus even more on patient care, as well as the research, education and quality initiatives that are integral to the MEDNAX culture.”
The acquisition of PENT expands the continuum of care MEDNAX currently provides in the greater San Antonio market with maternal-fetal, pediatric, pediatric hospitalist, newborn nursery and pediatric subspecialty services, including neonatal, developmental, cardiac, urological, surgical and plastic surgical care.
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 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 3,275 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.
