Wired News – MEDNAX Acquires California-Based Neonatology Practice
LONDON, UK / ACCESSWIRE / January 12, 2018 / Active-Investors.com has just released a free research report on MEDNAX, Inc. (NYSE: MD). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MD as the Company's latest news hit the wire. On January 10, 2018, the Company declared that it has entered into a definitive agreement to acquire Tri-Valley Neonatal Medical Group, Inc. ("Tri-Valley"), a private neonatology physician practice based in Van Nuys, California. The acquisition is a cash transaction and is expected to be immediately accretive to earnings. Other terms of the transaction remained undisclosed. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MEDNAX most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Strategic Benefits of the Transaction
The acquisition will help MEDNAX in providing additional services in California across multiple specialties, which includes maternal-fetal medicine, neonatology, newborn hearing screens, obstetric hospitalist, pediatric cardiology, pediatric hospitalist, pediatric intensive care, and radiology. MEDNAX's national network will support Tri-Valley's continued growth and provide long-term stability in the uncertain health care environment. MEDNAX's extensive research, education, and quality initiatives is also likely to enhance the patient care experience.
Acquisition of Utah-Based Neonatology Practice in 2017
In January 2017, MEDNAX acquired Western Newborn Specialists, Inc., a private neonatal physician group practice based in Salt Lake City, Utah. Western Newborn Specialists, established in 1997, employed six full time neonatologists and provided neonatal, delivery, newborn nursery, pediatric, and consultative services. The acquisition added to the services MEDNAX provided in Utah across multiple specialties which includes neonatology, maternal-fetal medicine, OB hospitalist, and radiology services. MEDNAX's research, education, and quality initiatives offered Western Newborn Specialists' physicians innovative thinking and unparalleled resources to strengthen their practice and quality of service.
MEDNAX's Other Acquisition Agreements in 2017
In January 2017, MEDNAX acquired Radiology Alliance, PC and Infinity Management, LLC based in Nashville, Tennessee, and a private multi-specialty physician group practice based in Spring, TX from Newborn Intensive Care Specialists, P.A.
In March 2017, the Company completed the acquisition of Midwest Perinatal Associates, P.A., a private maternal-fetal medicine physician practice based in Overland Park, Kansas, and Bruce E. Snyder, M.D., PLLC., a private pediatric ophthalmology practice based in Henderson, Nevada. MEDNAX also acquired Greater Nashville Perinatology, PLC, a private maternal-fetal medicine physician practice based in Nashville, Tennessee, and Radiology Associates of South Florida (RASF), based in Miami, Florida, in June and August 2017, respectively.
In September 2017, the Company announced the acquisition of Jefferson Radiology, PC and Jefferson Imaging Associates, LLC based in Hartford, Connecticut, helping the Company to meaningfully expand its radiology services. MEDNAX acquired Palm Beach Pediatric Urology, PA, a private pediatric urology physician practice based in Palm Beach, Florida, and Synergy Radiology Associates, PA, a private radiology physician group based in Houston, Texas, in October 2017.
About MEDNAX, Inc.
Founded in 1979, MEDNAX, Inc., through its subsidiaries, is a national medical group that comprises the nation's leading providers of neonatal, anesthesia, maternal-fetal and pediatric medical, and surgical subspecialty services. The Company is headquartered in Florida, United States.
About Tri-Valley Neonatal Medical Group, Inc.
Established in 2002, Tri-Valley employs three full-time and one part-time neonatologists, as well as one neonatal nurse practitioner. The practice provides neonatology and newborn nursery services at Valley Presbyterian Hospital in Van Nuys, Henry Mayo Newhall Hospital in Valencia, and Providence Holy Cross Medical Center in Mission Hills.
Stock Performance Snapshot
January 11, 2018 - At Thursday's closing bell, MEDNAX's stock advanced 1.44%, ending the trading session at $54.17.
Volume traded for the day: 654.10 thousand shares.
Stock performance in the last month – up 5.33%; previous three-month period – up 25.13%; and year-to-date - up 1.37%
After yesterday's close, MEDNAX's market cap was at $5.08 billion.
Price to Earnings (P/E) ratio was at 19.21.
The stock is part of the Healthcare sector, categorized under the Specialized Health Services industry. This sector was up 0.5% at the end of the session.
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