FORT LAUDERDALE, Fla.—-MEDNAX, Inc. (NYSE:MD), today announced the acquisition of Women’s Radiology Associates, LLP, a private radiology physician group based in Houston. The practice will integrate with Synergy Radiology Associates, a MEDNAX-affiliated physician practice, also based in Houston.This marks the Company’s sixth radiology services practice acquisition, further establishing MEDNAX as the partner of choice for leading radiology practices and physician services by combining physician excellence with world-class technological capabilities.
Women’s Radiology Associates was established in 1974 by physicians who pioneered fetal growth assessment research, a groundbreaking approach to assess in-utero fetal growth. Comprising six board-certified radiologists, the group provides a broad range of inpatient and outpatient diagnostic imaging services at The Woman’s Hospital of Texas. Specialized services include mammography, obstetric sonography, gynecological sonography, computed tomography and neonatal imaging.
“Our highly experienced radiologists are recognized experts in women’s imaging, and we are proud to have served the community for the past 40 years as the only local radiology group exclusively performing women’s and neonatal imaging at The Woman’s Hospital of Texas,” said Yogesh P. Shah, M.D., Managing Partner of Women’s Radiology Associates and Chairman of the Department of Radiology at The Woman’s Hospital of Texas. “We look forward to sharing this expertise with the greater MEDNAX Radiology group while continuing to provide the high quality, specialized patient care we are known for.”
“Women’s Radiology Associates is a welcome addition to MEDNAX Radiology as we continue to expand our radiology physician services and enhance our integrated physician services offering,” said Walid K. Adham, M.D., Practice Chair of Synergy Radiology Associates. “The team will add a wealth of specialized expertise in women’s and neonatal imaging, and Synergy is eager to continue to build upon the tradition of outstanding clinical care provided by Dr. Shah and team at The Woman’s Hospital of Texas.”
Upon completion of the transaction, MEDNAX’s affiliated radiologists will read more than 11 million studies annually.
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, five physician group practices have become part of MEDNAX in 2018.
MEDNAX, Inc. is a national health solutions partner based in Sunrise, Fla. 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, 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 approximately 4,100 physicians in all 50 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to healthcare facilities and physicians in over 40 states through two complementary businesses, consisting of a revenue cycle management company and a consulting services company. 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 MEDNAX’s current reports on Form 8-K, filed with the Securities and Exchange Commission.
Charles Lynch, 954-384-0175 Ext. 5692
Vice President, Strategy and Investor Relations