MEDNAX acquires neonatal group practice in Covington, Louisiana

MEDNAX, Inc., (NYSE:MD) today announced the acquisition of a neonatal group based in Covington, Louisiana, consisting of two physicians who provide neonatal intensive care and well-baby care at St. Tammany Parish Hospital. The hospital’s Level III neonatal intensive care unit (NICU) has annual patient volume in excess of 2,500 patient days.

The physicians will practice as part of MEDNAX’s Pediatrix Medical Group, a national medical group consisting of the nation’s leading neonatal, maternal-fetal medicine and pediatric cardiology physician group practice.

The two physicians made the decision to join Pediatrix because of its commitment and devotion of resources to improving patient care and outcomes. The physicians look forward to the opportunity to enhance the level of care they provide to their patients in the NICU by working in a collaborative environment, where they will have access to evidence-based outcomes, continuing education, and clinical quality programs.

MEDNAX paid cash for the practice, and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transaction were disclosed.

With this acquisition, MEDNAX has completed nine physician group practice acquisitions during 2009.

Source:

MEDNAX, Inc.,

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