MEDNAX Announces Acquisition of Pediatric Cardiology Practice in Austin, Texas

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Pediatric Cardiology of Austin, a physician group practice that provides pediatric cardiology services throughout the central Texas region.

“We look forward to being a part of this leading national medical group and collaborating with more than 100 pediatric cardiologists throughout the country. This partnership not only supports our growth prospects but also our infrastructure, and will in turn, benefit our patients within the community.”

The addition of Pediatric Cardiology of Austin to MEDNAX’s Pediatrix Medical Group division brings four cardiologists and 10 other clinical and administrative staff members to the national group practice. The practice is affiliated with 11 hospitals within the Seton Medical System and St. David’s Medical System throughout Austin and surrounding counties, including Dell Children’s Medical Center. Both the Pediatrix and American Anesthesiology divisions of MEDNAX are already established providers of specialty services in the Austin area.

Pediatric Cardiology of Austin was established in 2001 by Ronald Shapiro, M.D. and provides a full spectrum of inpatient and outpatient services including consultations, echocardiography, fetal echocardiography, interventional cardiac catheterizations, treatment of adult congenital heart disease, and pre- and post-operative care for cardiac surgery.

“Our practice’s core values of quality care, customer service and patient satisfaction, are very much aligned with those of Pediatrix Medical Group,” said Ronald Shapiro, M.D., founder and president of Pediatric Cardiology of Austin, “We look forward to being a part of this leading national medical group and collaborating with more than 100 pediatric cardiologists throughout the country. This partnership not only supports our growth prospects but also our infrastructure, and will in turn, benefit our patients within the community.”

The physicians and employees joining as a result of this transaction will now be part of MEDNAX’s Pediatrix Medical Group, a national group practice consisting of the nation’s leading neonatal, maternal-fetal medicine, pediatric cardiology, and other pediatric specialty physicians.

The practice was acquired for cash and the transaction is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.

With this acquisition, five physician group practices have become part of Pediatrix Medical Group and five group practices have become part of American Anesthesiology in 2012.

ABOUT MEDNAX

MEDNAX, Inc. is a national medical group that comprises the nation's leading provider 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 300 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 1,200 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 1,900 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.