MEDNAX (MD) Makes Two Acquisitions in Florida, South Carolina
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MEDNAX, Inc. (NYSE: MD) announced the acquisitions of Medical Anesthesia Consultants, LLC, a private physician group practice based in Florence, S.C. and Anesthesia Associates of Naples, P.A., a private physician group practice based in Naples, Fla.
Established in 2007, Medical Anesthesia Consultants is a private practice that employs 20 anesthesiologists and provides anesthesia care across a wide spectrum of subspecialty areas including pediatrics, high-risk obstetrics, thoracic, cardiovascular, urology, neuro-anesthesia, orthopedics and acute pain management for post-operative pain. Medical Anesthesia Consultants is the exclusive provider of services to multiple facilities within the McLeod Health system including McLeod Regional Medical Center, McLeod Seacoast, McLeod Loris, McLeod Dillon and McLeod Health Cheraw.
“It’s ideal that we can maintain our clinical autonomy but be relieved of managing complex business and regulatory requirements,” said Gerald Hamrick, M.D., who will serve as medical director for the practice. “In addition, engaging in MEDNAX’s research, education and quality initiatives will help us further enhance the care we deliver.”
This acquisition adds to the services MEDNAX provides through its affiliated practices at McLeod Health which include neonatology, pediatric intensive care and newborn hearing screen, and in South Carolina across multiple specialties including anesthesia, neonatology, newborn hearing screening, pediatric intensive care and radiology.
In addition, Anesthesia Associates of Naples was established in 2007 and is a private practice that provides a broad range of subspecialty anesthesia services including gastroenterology, orthopedic, general surgery, urology and acute pain management for post-operative pain. The practice employs a clinical care team of eight full time anesthesiologists and 17 anesthetists, who provide services at Physicians Regional – Collier Boulevard and Physicians Regional-Pine Ridge, part of Community Health Systems.
“Joining MEDNAX will give us long-term stability in the rapidly changing health care environment and the support we need to manage insurance, billing, contract negotiations and other issues that were making it difficult to focus on what’s most important - practicing anesthesia and caring for patients,” said Chad Purdom, M.D., who will serve as medical director for the practice.
This acquisition adds to the services MEDNAX provides in Florida through its affiliated practices across multiple specialties including anesthesia, neonatology, maternal-fetal medicine, cardiology, pediatric intensive care, pediatric surgery, pediatric hospitalist, newborn hearing screen and radiology.
These practices were acquired for cash and the transactions are expected to be immediately accretive to earnings. No additional terms of these transactions were disclosed.
With these two acquisitions, 12 physician group practices have become part of MEDNAX in 2016.
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