MEDNAX announces acquisition of Anesthesiology Practice in Florida

Friday, August 21, 2015

MEDNAX, Inc. announced the acquisition of Millennium Anesthesia Care, a private physician group practice based in Tampa, Fla.

Millennium Anesthesia Care was incorporated in 2001 and employs 79 full-time clinicians (26 anesthesiologists, 51 anesthetists and 2 ARNPs) that provide services at five BayCare Health System/St. Joseph’s Hospital facilities including its ambulatory surgery center and the new St. Joseph's Hospital-South location which opened in February 2015. The practice’s anesthesia services include general anesthesia, neurosurgery (including spine), cardiac, vascular, pediatric, orthopedic, obstetric, gynecologic, chronic pain and acute pain management for post-operative pain.

“We saw the trend of healthcare consolidation becoming more widespread and understood the importance of having the resources, support and long-term stability a national medical group can provide our practice, as well as the value we can now bring to our hospital partner,” said Jim Gruber, M.D., who will serve as medical director for the practice. “Additionally, the access and involvement in research, education and clinical quality initiatives will help further position our practice as an anesthesia leader in Tampa and the surrounding markets.”

MEDNAX clinicians currently provide neonatology, maternal-fetal medicine, pediatric cardiology and newborn hearing screen services at many hospitals throughout the BayCare Health System.

“We have had a long term partnership with MEDNAX through its neonatology, cardiology, perinatology and newborn hearing screen practices and programs,” said Lorraine Lutton, President, St. Joseph’s Hospital. “We welcome this expanded partnership and look forward to working alongside the established anesthesia providers from Millennium to maintain our strong focus on quality, safety and an optimum patient experience in anesthesia care.”

This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.