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MEDNAX Expands Presence in Florida through Affiliation with Leading Pediatric Critical Care and Hospitalist Practice

November 22, 2019

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov 22, 2019--

MEDNAX, Inc. (NYSE: MD), today announced its affiliation with Arcenio Chacón, M.D., P.A. and Associated Pediatricians of Homestead, LLC, a private pediatric critical care and hospitalist practice based in Miami.

Founded in 1993, the practice is a well-established group that has served Baptist Health South Florida for more than 25 years. Comprising four physicians, the group provides pediatric critical care and hospitalist services at Baptist Children’s Hospital and hospitalist services at Miami Cancer Institute and Homestead Hospital.

“The MEDNAX national network will provide the support needed to manage the difficult healthcare climate as we look to enhance our practice and pursue growth,” said Dr. Chacón. “We now have the ability to focus more on patient care and less on administrative functions while leveraging established best practices. We look forward to continuing to provide leading pediatric care for the Miami community and beyond.”

This affiliation adds to the services MEDNAX provides in Florida through its network of affiliated physicians across multiple specialties, including maternal-fetal medicine, OB hospitalist, neonatology, newborn hearing screen, pediatric cardiology, pediatric critical care, pediatric hospitalist, pediatric surgery/plastic surgery, pediatric urology, developmental pediatrics, anesthesiology and radiology.

MEDNAX’s affiliated physician practices provide excellent women’s and children’s care in South Florida. Its physician network provides a variety of pediatric subspecialty services to more than 15 area hospital partners.

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

ABOUT MEDNAX

MEDNAX, Inc. is a national health solutions partner comprised of the nation’s leading providers of physician services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, consulting services, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 4,250 physicians in all 50 states and Puerto Rico. Additional information is available at www.mednax.com.

Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. 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 MEDNAX’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 MEDNAX 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 MEDNAX’s most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled “Risk Factors,” as well as MEDNAX’s current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the effects of economic conditions on MEDNAX’s business; the effects of the Affordable Care Act and potential changes thereto or a repeal thereof; MEDNAX’s relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; MEDNAX’s ability to consummate the proposed disposition of MedData; the timing and contribution of future acquisitions; the effects of share repurchases; and the effects of MEDNAX’s shared services and operational initiatives.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005084/en/

CONTACT: Charles Lynch

Vice President, Strategy and Investor Relations

954-384-0175 ext. 5692

charles_lynch@mednax.com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: HOSPITALS GENERAL HEALTH HEALTH PRACTICE MANAGEMENT

SOURCE: MEDNAX, Inc.

Copyright Business Wire 2019.

PUB: 11/22/2019 06:45 AM/DISC: 11/22/2019 06:45 AM

http://www.businesswire.com/news/home/20191122005084/en