Monday, January 05, 2015
MEDNAX, Inc., today announced the acquisition, effective December 31, 2014, of Metropolitan Anesthesia Alliance, PLLC, a private physician group practice based in Memphis, Tenn. The practice will become part of MEDNAX’s American Anesthesiology division and represents the Company's fourth anesthesiology practice acquisition in Tennessee.
Metropolitan Anesthesia Alliance was established in 2001 following the merger of Affiliated Anesthesiologists, Medical Center Anesthesiologists and Anesthesia Specialists of Tennessee. The practice employs 73 full-time anesthesia providers (27 anesthesiologists and 46 anesthetists) at several Baptist Memorial Health Care hospitals and ambulatory surgery centers, as well as four office-based clinics throughout the Memphis metropolitan area. Baptist Memorial Health Care is the largest health care system in the Mid-South.
The practice’s anesthesia services include general surgery, cardiac, vascular, orthopedic, neurosurgery (including spine), obstetric, pediatric and acute pain management.
“In an era of increasing bureaucracy, shrinking reimbursement and growing quality and performance expectations, our practice needed the support of a national medical group,” said Rodger Funderburg, M.D., who will serve as medical director for the practice. “Access to American Anesthesiology’s research, education, quality and patient safety initiatives, as well as the Quantum Clinical Navigation System™, will help us provide better care to our patients and further solidify our relationships with our hospital partners as the healthcare industry evolves and becomes more complex.”
MEDNAX’s American Anesthesiology division consists of more than 2,350 anesthesia providers, including more than 950 physicians and 1,400 anesthetists practicing in 13 states.
This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
With this acquisition and a one-physician pediatric cardiology practice in Tennessee, also acquired during the fourth quarter, 11 physician group practices became part of MEDNAX in 2014, eight as part of American Anesthesiology, and three as part of Pediatrix Medical Group. In addition, MEDNAX completed two non-practice acquisitions. The total purchase price for the 13 acquisitions completed during 2014 was over $490 million, consisting of closing cash and contingent consideration, MEDNAX's highest level of annual acquisition spend to date.
Source : http://www.mednax.com/
