MEDNAX (MD) Acquires Nevada-Based Anesthesiology Practice

August 8, 2016 7:17 AM EDT

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

MEDNAX, Inc. (NYSE: MD) announced the acquisition of Associated Anesthesiologists of Reno, P.C., a private physician group practice based in Reno, Nev., adding anesthesia to the company’s footprint of pediatric and other specialty services in the state.

Associated Anesthesiologists of Reno, established in 1949, is the largest anesthesia practice in Northern Nevada. The practice provides anesthesia care across a wide spectrum of subspecialty areas, including orthopedic, obstetric, pediatric and cardiac and critical care. Associated Anesthesiologists of Reno employs 56 (49 full-time and 7 part-time) anesthesiologists and is the exclusive provider of services to Renown Regional Medical Center, an 808 bed facility and the only children’s hospital and emergency room in the region. The practice also provides services to Nevada Medical Center, Carson Valley Medical Center and various ambulatory surgical centers throughout the region.

“We wanted to join a national organization that truly understands the importance of hospital partnerships, and one whose culture and commitment to delivering the highest quality patient care parallels our own,” said Matthew Hoberg, M.D., who will serve as medical director for the practice. “In addition, having access to a national network of research, education and quality initiatives will enhance our efforts to expand our evidence-based best practices as well as our quality and performance improvement programs to directly benefit the patients we serve in our community.”

This acquisition adds to the services MEDNAX provides in Nevada across multiple specialties which include neonatology, pediatric intensive care, pediatric emergency, pediatric hospitalist, hearing screen and radiology services.

This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.

With this acquisition, nine physician group practices have become part of MEDNAX in 2016.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Comments, Mergers and Acquisitions

Related Entities

Earnings, Definitive Agreement

Add Your Comment