Pediatrix Acquires Atlanta Maternal-Fetal, OB Physician Group
February 19 2008 - 7:00AM
Business Wire
Pediatrix Medical Group, Inc., (NYSE: PDX) today announced that it
has completed the acquisition of Northside Women�s Specialists,
P.C., a physician group practice that provides maternal-fetal
medicine and obstetrical and gynecological services to women in
Atlanta. The practice consists of 13 physicians, including seven
maternal-fetal medicine subspecialists and six physicians who
specialize in obstetrics and gynecology, four certified nurse
midwives and three certified nurse practitioners. The group
provides comprehensive care for women at four physician office
locations in northern Atlanta and delivers babies at Atlanta�s
Northside Hospital, while providing consultations for patients at
Gwinnett Medical Center, Emory Johns Creek Hospital, and North
Fulton Regional Hospital. The practice was founded as an
obstetrics/gynecology physician group in the late 1970s and
expanded to include maternal-fetal medicine during the 1990s,
successfully integrating the two specialties. The group�s growth
coincides with the development of the Atlanta metropolitan area,
particularly the communities in North Atlanta. �We�ve been
experiencing rapid growth in the demand for our services, including
new, more comprehensive screening and diagnostic tools that are
available to our patients,� said Daniel Eller, M.D., a
maternal-fetal medicine subspecialist who will serve as medical
director for the practice. �With the resources of a larger
organization, we will be able to continue to provide excellent care
for our patients while expanding faster to meet the demands of a
growing population. We also see an opportunity to collaborate with
other Pediatrix physicians practicing around the country by
conducting clinical research to improve care for our patients.�
With the acquisition of Northside Women�s Specialists, Pediatrix
has more than 115 affiliated maternal-fetal medicine physician
subspecialists practicing throughout the country as part of its
national group. Pediatrix paid cash for the practice and the
transaction is expected to be accretive to earnings. About
Pediatrix Pediatrix Medical Group, Inc. is the nation�s leading
provider of neonatal, maternal-fetal and pediatric physician
subspecialty services and recently expanded to include
anesthesiology services. Pediatrix physicians and advanced
practitioners are reshaping the delivery of care within the
maternal-fetal, neonatal intensive care and pediatric cardiology
subspecialties, using evidence-based tools, continuous quality
initiatives and clinical research to enhance patient outcomes and
provide high-quality, cost-effective care. Founded in 1979, its
neonatal physicians provide services at more than 250 neonatal
intensive care units, and in many markets they collaborate with
affiliated maternal-fetal medicine, pediatric cardiology physician
subspecialists and pediatric intensivists to provide a clinical
care continuum. Combined, Pediatrix and its affiliated professional
corporations employ more than 1,050 physicians in 32 states and
Puerto Rico. Pediatrix is also the nation�s largest provider of
newborn hearing screens. Additional information is available at
www.pediatrix.com. Certain statements and information in this press
release may be deemed to be �forward-looking statements� within the
meaning of the Federal Private Securities Litigation Reform Act of
1995. Forward-looking statements may include, but are not limited
to, statements relating to our objectives, plans and strategies,
and all statements (other than statements of historical facts) that
address activities, events or developments that we intend, expect,
project, believe or anticipate will or may occur in the future are
forward-looking statements. These statements are often
characterized by terminology such as �believe�, �hope�, �may�,
�anticipate�, �should�, �intend�, �plan�, �will�, �expect�,
�estimate�, �project�, �positioned�, �strategy� and similar
expressions, and are based on assumptions and assessments made by
Pediatrix�s management in light of their experience and their
perception of historical trends, current conditions, expected
future developments and other factors they believe to be
appropriate. Any forward-looking statements in this press release
are made as of the date hereof, and Pediatrix undertakes no duty to
update or revise any such statements, whether as a result of new
information, future events or otherwise. Forward-looking statements
are not guarantees of future performance and are subject to risks
and uncertainties. Important factors that could cause actual
results, developments, and business decisions to differ materially
from forward-looking statements are described in Pediatrix�s most
recent Annual Report on Form 10-K, including the section entitled
�Risk Factors�. Additional factors include, but are not limited to:
the possible discovery of additional facts beyond those reviewed by
the Audit Committee; litigation related to the matters investigated
by the Pediatrix�s Audit Committee or the restatements to
Pediatrix�s financial statements and other historical disclosures;
and any regulatory actions of the SEC or the U.S. Attorney related
to such matters.
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