Pediatrix® Expands Presence in Florida Through Affiliation with 13-Clinic Pediatric Urgent Care Practice
February 04 2022 - 7:00AM
Business Wire
Mednax, Inc. (NYSE: MD) and its affiliated practices operating
as Pediatrix® Medical Group (Pediatrix), the nation’s leading
provider of highly specialized health care for women, children and
babies, today announced the acquisition of Night Lite Pediatrics,
LLC (Night Lite Orlando or NLO), a private 13-clinic pediatric
urgent care practice based in Orlando, Florida.
Founded in 2005, Night Lite Orlando is a well-established
provider of pediatric urgent care and telemedicine services as well
as COVID-19 testing and vaccines. Comprising 30 physicians, 11
advanced practice providers, 83 clinic support staff and 69
administrative staff, the group serves patients at 13 locations
throughout Florida including the Greater Orlando area,
Jacksonville, Melbourne and Port St. Lucie.
“We are thrilled to welcome Dr. Otegbeye and the Night Lite
Orlando team to the Pediatrix family,” said Mark Ordan, chief
executive officer of Mednax. “This partnership marks significant
progress in the company’s plan to transform and develop innovative
pediatric primary and urgent care clinics throughout the country,
powered by Brave Care technology. These reputable pediatric urgent
care clinics are located where we already have a strong
multispecialty presence, which will enable us to expand access to
high-quality care for children and families in Florida and
beyond.”
“We believe we have a care proposition for children and young
adults that will enhance care in terms of quality, cost and time
efficiency, and Pediatrix is a leader in this space with a solid
history of making pediatric practices even stronger,” said Ayodeji
Otegbeye, M.D., president and founder of Night Lite Orlando, who
will serve as medical director for the practice. “We see Mr. Ordan
and Pediatrix as being visionary and there is no better partner
that we can have than people focused in this area – it makes for a
really good relationship. We are excited about what is to come and
the potential we have to change the care paradigm in
pediatrics.”
NLO will soon be rebranded as Pediatrix along with the company’s
existing affiliated practices, including eight NightLight urgent
care clinics in Houston, Texas.
This was a cash transaction, and it is expected to be
immediately accretive to earnings. No additional terms of the
transaction were disclosed.
ABOUT MEDNAX
Mednax, Inc. is a national medical group comprised of the
nation’s leading providers of physician services practicing under
the Pediatrix® brand. Pediatrix-affiliated clinicians are committed
to providing coordinated, compassionate and clinically excellent
services to women, babies and children across the continuum of
care, both in hospital settings and office-based practices.
Specialties include obstetrics, maternal-fetal medicine and
neonatology complemented by 18 pediatric subspecialties, as well as
a newly expanded area of primary and urgent care clinics. The
group’s high-quality, evidence-based care is bolstered by
investments in research, education, quality-improvement and safety
initiatives. The company was founded in 1979 as a single affiliated
neonatology practice and today provides its highly focused and
often critical care services through more than 4,700 affiliated
physicians and other clinicians in 38 states and Puerto Rico. To
learn more about Pediatrix, visit www.pediatrix.com or follow us on
Facebook, Instagram, LinkedIn, Twitter and the Pediatrix blog.
Mednax investment information can be found at
www.mednax.com/investors.
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;
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/20220204005027/en/
Charles Lynch Senior Vice President, Finance and Strategy
954.384.0175 ext. 5692 charles_lynch@mednax.com
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