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MEDNAX (MD) to Acquire Michigan-Based South Oakland Anesthesia Associates

December 21, 2012 7:05 AM EST Send to a Friend
MEDNAX, Inc., (NYSE: MD) announced the acquisition of South Oakland Anesthesia Associates, P.C., a physician group practice that provides anesthesia care and pain management services at three hospitals, four ambulatory surgery centers, one eye center, and four pain management centers throughout Oakland, Wayne and Macomb counties in Michigan. The practice will become part of MEDNAX’s American Anesthesiology division and is the first Michigan-based practice to join the division, which now consists of 16 practices throughout eight states.

South Oakland Anesthesia Associates was established in 1967 and is a private group practice that employs 73 anesthesiologists that provide services across a wide spectrum of subspecialty areas, including orthopaedic, neurosurgical, pediatric, obstetric, cardiac, trauma, and critical care as well as acute and chronic pain medicine. The physicians practice in the anesthesia care-team model, which includes both residents and anesthetists.

The physicians joining as a result of this transaction will now be part of MEDNAX’s American Anesthesiology division, which consists of more than 1,350 anesthesia providers, including more than 570 physicians and 780 anesthetists practicing in North Carolina, Florida, Georgia, Michigan, New Jersey, Tennessee, Texas, Virginia and, with administrative offices in Sunrise, Fla. and Raleigh, N.C.

This practice was acquired for cash and the transaction is expected to be immediately accretive to earnings. No additional terms of the transactions were disclosed.

With this acquisition, 14 physician group practices have become part of MEDNAX in 2012, seven as part of American Anesthesiology, and seven as part of Pediatrix Medical Group.




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