Pediatrix Acquires South Florida Pediatric Cardiology Practice

Main Category: Cardiovascular / Cardiology
Also Included In: Pediatrics / Children's Health
Article Date: 14 Apr 2008 - 4:00 PDT

email to a friend   printer friendly   view / write opinions   rate article

Pediatrix Medical Group, Inc., (NYSE:PDX) announced that it has completed the acquisition of a pediatric cardiology practice based in Pembroke Pines, Florida, that serves patients in communities in northwest Miami-Dade and western Broward counties.

The practice was founded in 2002 by Raul Aguirre, M.D., who has more than 12 years' experience practicing pediatric cardiology in South Florida. Dr. Aguirre's practice provides a range of cardiology services to pediatric patients. The practice also has a thriving referral base from obstetricians and maternal-fetal medicine specialists for fetal echocardiography services.

"The more we know about congenital heart defects, the greater the need for fetal echocardiography services," said Raul Aguirre, M.D. "As part of Pediatrix, I believe we have an excellent opportunity to build a recognized program for patients in our communities."

Pediatrix paid cash for the practice, which is expected to contribute immediately to earnings per share.

About Pediatrix

Pediatrix Medical Group, Inc. is the nation's leading provider of neonatal, maternal-fetal and pediatric physician subspecialty services and recently expanded to include anesthesiology services. Pediatrix physicians and advanced practitioners are reshaping the delivery of care within the maternal-fetal, neonatal intensive care and pediatric cardiology subspecialties, using evidence-based tools, continuous quality initiatives and clinical research to enhance patient outcomes and provide high-quality, cost-effective care. Founded in 1979, its neonatal physicians provide services at more than 240 neonatal intensive care units, and in many markets they collaborate with affiliated maternal-fetal medicine, pediatric cardiology physician subspecialists and pediatric intensivists to provide a clinical care continuum. Combined, Pediatrix and its affiliated professional corporations employ more than 1,050 physicians in 32 states and Puerto Rico. Pediatrix is also the nation's largest provider of newborn hearing screens. Additional information is available at http://www.pediatrix.com.

Certain statements and information in this press release may be deemed to be "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our 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 are forward-looking statements. 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 Pediatrix'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 Pediatrix 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 Pediatrix's most recent Annual Report on Form 10-K, including the section entitled "Risk Factors".

Pediatrix Medical Group, Inc.