Withdraws Prior First-Quarter and Preliminary Full Year Outlook for 2020 Due to COVID-19 Impact
Amends Credit Facility
Due to the rapidly evolving environment and continued uncertainties surrounding the impact of COVID-19 and the likelihood that this impact may materially affect the Company’s near-term financial performance,
The Company’s January and February operating results were in line with the outlook provided in MEDNAX’s fourth quarter earnings announcement on
Within its American Anesthesiology medical group,
Within MEDNAX Radiology Solutions, orders for radiological studies have declined by a meaningful amount from historically normal levels, with much of this reduction focused in non-urgent studies.
MEDNAX’s office-based practices, which specialize in maternal-fetal medicine, pediatric cardiology, and numerous pediatric subspecialties, have seen a significant elevation of appointment cancellations compared to historical normal levels.
At this time, the Company has not experienced, nor does the Company currently anticipate, any significant impact to neonatal intensive care unit (NICU) patient volumes as a result of the COVID-19 situation.
Across its medical groups, the Company believes that these patient volume declines primarily reflect a deferral of healthcare services utilization to a later period, rather than a permanent reduction in demand for its services. Given the general necessity and critical nature of the services the Company’s affiliated clinicians provide,
“As a clinician-centric and clinician-led organization, it is in our DNA to run to the fire in times of crisis. Our clinicians are on the front lines of this pandemic, working tirelessly to help provide critical, life-saving care,” said
Amendments to Credit Facility
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
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