Mednax Announces CVS Aetna Voluntarily Dismisses 2018 Litigation
July 14 2021 - 4:15PM
Business Wire
Mednax, Inc. (NYSE: MD) announced today that CVS Aetna has
voluntarily dismissed its litigation against the Company.
On July 14, CVS Aetna filed with the Court its voluntary
dismissal of the case, putting an end to the litigation it
initiated in 2018.
“We are pleased that CVS Aetna has voluntarily dismissed the
lawsuit that it filed against us in 2018, putting this matter fully
in the past,” said Mark S. Ordan, Chief Executive Officer of
Mednax. “Our core mission is to do what’s absolutely best for our
patients: mothers and children at their most vulnerable times. CVS
Aetna’s website speaks the same language about care, so we hope
this can be a start of building a positive relationship for the
sake of our patients.”
ABOUT MEDNAX
Mednax, Inc. is a national medical group 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 telehealth programs to enhance patient
outcomes and provide high-quality, cost-effective care. The Company
was founded in 1979, and today, through its affiliated professional
entities, Mednax provides services through a network of more than
2,300 physicians in 39 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 (the “Securities Act”),
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 the Company’s 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 the Company’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 the Company
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
the Company’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 the Company’s current reports on Form 8-K,
filed with the Securities and Exchange Commission, and include the
impact of the COVID-19 pandemic on the Company and its financial
condition and results of operations; the effects of economic
conditions on the Company’s business; the effects of the Affordable
Care Act and potential changes thereto or a repeal thereof; the
Company’s relationships with government-sponsored or funded
healthcare programs, including Medicare and Medicaid, and with
managed care organizations and commercial health insurance payors,
including whether Mednax’s affiliated physicians will be out of
network for Aetna in California, Texas, or any other jurisdiction,
and the impact of disputes with payors, including pending
litigation by CVS Aetna; the Company’s ability to comply with the
terms of its debt financing arrangements; the impact of the
divestiture of the Company’s anesthesiology and radiology medical
groups; the impact of management transitions; the timing and
contribution of future acquisitions; the effects of share
repurchases; and the effects of the Company’s transformation
initiatives, including its reorientation on, and growth strategy
for, its pediatrics and obstetrics business.
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version on businesswire.com: https://www.businesswire.com/news/home/20210714005770/en/
Charles Lynch Senior Vice President, Finance and Strategy
954-384-0175 ext. 5692 charles_lynch@mednax.com
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