Pediatrix acquires Phoenix-Based Neonatology group.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Jan. 16, 1996--Pediatrix Medical Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PEDX) Tuesday announced the acquisition of Neonatal Specialists Ltd., a neonatology neonatology /neo·na·tol·o·gy/ (ne?o-na-tol´ah-je) the diagnosis and treatment of disorders of the newborn. ne·o·na·tol·o·gy n. physician group practice located in Phoenix, for $6 million in cash. Neonatal Specialists Ltd. (NSL NSL National Security Letter NSL National Soccer League (Australia) NSL Nursing Student Loans (US government; HRSA) NSL National Sporting Library NSL Norwegian Sign Language ) is a leading provider of neonatology services within Phoenix and its surrounding communities. During the year ended Dec. 31, 1995, NSL cared for more than 2,500 babies, generating a total of more than 21,000 patient days. "We are extremely pleased to complete this merger and begin practicing as part of Pediatrix. We believe that this transaction will offer our doctors the ability to spend more time taking care of babies, while leaving our business responsibilities to Pediatrix," said Dr. Jack C. Christensen, senior member of NSL. Pediatrix completed its initial public offering in September 1995. A portion of the proceeds raised will be used to fund the acquisition. "The acquisition of NSL represents an important step in the execution of our strategy and significantly enhances our position as the nation's leading provider of physician management services to hospital-based neonatal intensive care units. Neonatal Specialists is uniquely positioned to initiate and lead our efforts in the Arizona market. We believe that this transaction will have a positive impact on our earnings per share in 1996 and are delighted with this affiliation," said Roger J. Medel, M.D., chief executive officer of Pediatrix Medical Group. Pediatrix currently provides service to 37 neonatal intensive-care units, four pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. intensive care units and two pediatrics departments in 12 states and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . There are 120 physicians employed by or under contract with Pediatrix. During the fourth quarter of 1995, Pediatrix cared for approximately 2,300 babies and had over 27,000 patient days. CONTACT: Pediatrix Medical Group Larry Mullen, 954/384-0175 or RKC RKC Romaji-To-Kana Conversion (Japanese character sets) RKC Road Kill Cafe RKC Rad Kustom Cycles (Manila, Philippines) Communications Robert Kneeley, 954/351-1976 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion