MEDNAX Announces Acquisition of Anesthesiology Practice in New York
MEDNAX Announces Acquisition of Anesthesiology Practice in New York
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- MEDNAX, Inc., (NYS: MD) today announced the acquisition of Northern Westchester Anesthesia Services, P.C. (NWAS), a physician group practice primarily based in Mt. Kisco, New York. The practice, which was acquired by one of the company's affiliated professional contractors in New York, will become part of MEDNAX's American Anesthesiology division and is the second New York-based anesthesiology practice to join this division.
Established in 2003, NWAS is a private group practice that employs 16 anesthesiologists and 9 anesthetists providing anesthesia services across a wide spectrum of subspecialty areas to Northern Westchester Hospital, Westchester Health Associates, The Institute of Aesthetic Surgery and Medicine at Northern Westchester Hospital, and Westchester Bronx OB/GYN at its Bronx and Yonkers locations. Services include, but are not limited to, neurosurgery (including spine), pediatric, obstetric, gynecological, thoracic, general surgery, reconstructive surgery, orthopedic surgery, minimally invasive robotic surgery, as well as acute pain management services.
Through the practice's partnership with Northern Westchester Hospital, NWAS is part of the LifeWings Patient Safety Initiative, a comprehensive program designed to ensure that a "culture of safety" exists throughout the entire perioperative process. The program, a critical component to improving patient outcomes, encompasses the same principles found in High Reliability Organizations (HROs), such as those in the aerospace and aviation industries. American Anesthesiology has already implemented a similar patient safety program at its Atlanta-based practice, and has plans to roll out the program in other practices.
"Our practice's mission is aligned with that of American Anesthesiology, therefore our ability to focus on delivering the highest quality care to our patients will be supported by their established infrastructure as we face the changing healthcare environment together," said David Miller, M.D., who will serve as medical director for the practice. "Further, our clinical focus on achieving better patient outcomes will only be enhanced by our participation in American Anesthesiology's innovative research, education and quality initiatives."
MEDNAX's American Anesthesiology division consists of more than 1,700 anesthesia providers, including more than 700 physicians and 1,000 anesthetists practicing in Florida, Georgia, Michigan, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia.
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, eight physician group practices have become part of MEDNAX in 2013, five as part of American Anesthesiology, and three as part of Pediatrix Medical Group.
MEDNAX, Inc. is a national medical group comprised of the nation's leading providers of neonatal, maternal-fetal and pediatric physician subspecialty services as well as anesthesia 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 unit of MEDNAX, was founded in 1979 and now includes neonatal physicians who provide services at more than 330 neonatal intensive care units, who collaborate with affiliated maternal-fetal medicine, pediatric cardiology and pediatric critical care physician subspecialists to provide a clinical care continuum. Pediatrix is also the nation's largest provider of newborn hearing screens. In 2007, MEDNAX expanded into anesthesia services. Today, American Anesthesiology includes more than 1,700 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 2,200 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 statementsmay 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 couldcause 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.
Vivian Lopez-Blanco, 954-384-0175, x 5020
Chief Financial Officer/Treasurer
KEYWORDS: United States North America Florida New York
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