Mednax Prices Private Offering of $400 Million Senior Notes Due 2030
February 02 2022 - 6:17PM
Business Wire
Mednax, Inc. (NYSE: MD) (“Mednax”) announced today the pricing
of $400.0 million aggregate principal amount of 5.375% Senior Notes
due 2030 (the “Notes”) in a private offering (the
“Offering”) that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”). The Offering is expected to close on
February 11, 2022, subject to customary closing conditions.
As previously announced, if the Offering is successfully
completed, Mednax intends to use the net proceeds of the Offering
and other available funds, including cash on hand and proceeds from
its credit agreement, to redeem its outstanding 6.25% Senior Notes
due 2027 (the “2027 Notes”).
The Notes are being offered and sold only to persons reasonably
believed to be qualified institutional buyers in reliance on Rule
144A under the Securities Act and to non-U.S. persons outside the
United States pursuant to Regulation S under the Securities Act.
The Notes will not be registered under the Securities Act and may
not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements of the
Securities Act. This press release does not constitute an offer to
sell or the solicitation of an offer to buy the Notes and shall not
constitute an offer, solicitation, or sale in any jurisdiction in
which such offer, solicitation, or sale is unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. This press release does not constitute an offer to
purchase, the solicitation of an offer to purchase, or a notice of
redemption for the 2027 Notes.
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’s Pediatrix and
Obstetrix Medical Groups 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 2,400 physicians in 38
states and Puerto Rico.
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
risks and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
offering; 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; the impact of surprise billing legislation; the Company’s
ability to comply with the terms of its debt financing
arrangements; the Company’s transition to a third-party revenue
cycle management provider; 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/20220202006017/en/
Charles Lynch Senior Vice President, Finance and Strategy
954-384-0175 ext. 5692 charles_lynch@mednax.com
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