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MEDNAX takes over Pediatric Cardiology of Austin.

M2 EQUITYBITES-September 17, 2012-MEDNAX takes over Pediatric Cardiology of Austin(C)2012 M2 COMMUNICATIONS

17 September 2012 - US medical group MEDNAX Inc (NYSE:MD) said Monday that it had acquired regional pediatric cardiology physician group practice Pediatric Cardiology of Austin.

MEDNAX said that it paid in cash for Pediatric Cardiology of Austin but did not disclose the amount. It did not reveal the other conditions of the takeover either. The deal is seen to have immediate positive impact on MEDNAX's earnings, it said.

Pediatric Cardiology of Austin provides inpatient and outpatient services, including consultations, echocardiography, fetal echocardiography, interventional cardiac catheterisations, treatment of adult congenital heart disease and pre- and post-operative care for cardiac surgery, in the central Texas region.

The combination backs Pediatric Cardiology of Austin's growth prospects and infrastructure and, as a result, will benefit its patients, the firm's president, Ronald Shapiro, noted.

Pediatric Cardiology of Austin's four cardiologists and 10 other clinical and administrative personnel will join MEDNAX's Pediatrix Medical Group, which specialises in neonatal, maternal-fetal medicine, pediatric cardiology and other pediatric speciality services.

Pediatric Cardiology of Austin is the fifth physician group practice to amalgamate into Pediatrix Medical Group in 2012. MEDNAX's other division, American Anesthesiology, which provides anesthesia care and pain management services, has also acquired five group practices thus far this year.

MEDNAX is based in Sunrise, Florida and is present in 34 US states and Puerto Rico via its affiliated professional corporations.

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Publication:M2 EquityBites (EQB)
Date:Sep 17, 2012
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