Georgia Neonatology Practice Joins MEDNAX

Business Wire

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- MEDNAX, Inc. (NYSE: MD), today announced its affiliation with Georgia Neonatology, LLC, a private neonatology practice based in Athens, Ga.

Georgia Neonatology has provided neonatology services to Piedmont Healthcare’s Piedmont Athens Regional Medical Center location since 2013. The practice specializes in neonatal care for pre-term newborns and critically ill babies. Under the leadership of Atul Khurana, M.D., who serves as medical director, the Piedmont Athens Regional neonatal intensive care unit (NICU) was upgraded to a state-of-the-art Level III facility with 20 full-time beds and six overflow beds. Within the Piedmont Healthcare system, MEDNAX now services five of the eight NICUs through its network of affiliated physicians.

“As a leader in the neonatal field for 40 years, the MEDNAX national network offers a wealth of resources that our practice will greatly benefit from, including their proprietary electronic health record, which will enhance our clinical systems,” said Dr. Khurana. “MEDNAX will provide the support needed to further grow the practice while allowing us to collaborate with colleagues nationwide to provide premier neonatal care.”

This affiliation adds to the services MEDNAX provides in Georgia through its network of affiliated physicians across multiple specialties, including anesthesiology, pain management, maternal-fetal medicine, neonatology, newborn hearing screen, obstetric hospitalist, pediatric hospitalist and radiology.

MEDNAX is affiliated with more than 400 NICUs across 36 states plus Puerto Rico.

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 health solutions partner based in Sunrise, Fla. 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 4,200 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, and include the effects of economic conditions on MEDNAX’s business; the effects of the Affordable Care Act and potential changes thereto or a repeal thereof; MEDNAX’s relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; MEDNAX’s ability to consummate the proposed disposition of MedData; the effects of share repurchases; and the effects of MEDNAX’s shared services and operational initiatives.