MEDNAX acquires neonatal physician group in Ft. Myers, Florida

MEDNAX, Inc., (NYSE: MD) today announced that it has completed the acquisition of a neonatal physician group in Ft. Myers, Florida.

“This partnership with MEDNAX builds upon the long-standing commitment we have to delivering the highest quality care and best possible outcomes for our patients and their families in the Southwest Florida community”

The Ft. Myers practice, Associates in Neonatology, PA, consists of six physicians who staff the Level III neonatal intensive care unit (NICU) at Children's Hospital of Southwest Florida, the only designated Florida Regional Perinatal Intensive Care Center (RPICC) in Southwest Florida. Florida's RPICC Program, administered by Children's Medical Services, provides specialized obstetrical services to women identified as having a high-risk pregnancy and neonatal intensive care services to critically ill and low birth weight newborns.

"This partnership with MEDNAX builds upon the long-standing commitment we have to delivering the highest quality care and best possible outcomes for our patients and their families in the Southwest Florida community," said John Iacuone, M.D., Executive Director of Children's Hospital of Southwest Florida. "Our physicians will now have the opportunity to provide an even more consistent and coordinated approach to care for the premature babies being treated at each of our hospital campuses. This collaboration is an important factor in sustaining our position as a top quality healthcare provider and ensuring long-term improvements for the babies in our neonatal intensive care unit."

The group also provides services at three other area hospitals in Southwest Florida. Annual NICU patient volume exceeds 17,500 patient days.

"As part of Pediatrix we will be joining a group of physicians who share our vision and dedication to continuously improving the quality of care provided to our neonatal patients through the use of evidence-based medicine and best clinical practices," said William Liu, M.D., who will serve as Pediatrix's medical director for the practice. "In this challenging healthcare environment, we believe that having the support of a long-term clinical partner will not only further advance and improve outcomes for our patients, but will also help strengthen our ability to grow the services we provide to the families in our community."

Separately, MEDNAX announced the completion of the acquisition of a four physician neonatal practice in Syracuse, New York who staff the Level III NICU at St. Joseph's Hospital Health Center and provide neonatal services at Community General Hospital. Annual NICU patient volume exceeds 4,500 patient days.

The physicians joining as a result of both transactions will practice as part of MEDNAX's Pediatrix Medical Group, a national medical group that comprises the nation's leading provider of neonatal, maternal-fetal medicine and pediatric cardiology physicians, as well as other pediatric subspecialists.

MEDNAX paid cash for the practices, and the transactions are expected to be immediately accretive to its earnings. No additional terms of the transactions were disclosed.

With these acquisitions, six physician group practices have become part of Pediatrix Medical Group in 2010.