MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Anesthesia Medical Alliance of East Tennessee (AMAET) a physician group practice based in Knoxville, Tenn. that provides anesthesia services at 16 practice locations throughout the East Tennessee region.
“We look forward to collaborating with a national medical group of anesthesiologists where we can have an even greater impact on improving anesthesia care and outcomes”
AMAET will become part of MEDNAX's American Anesthesiology division, and is the first Tennessee-based practice to join the division.
AMAET was founded in 2001 and consists of 45 anesthesiologists and 158 anesthetists, providing anesthesia services across a wide spectrum of subspecialty areas including cardiovascular, obstetric, neuroanesthesia, regional anesthesia and pain management.
AMAET serves five hospitals including Parkwest Medical Center, Fort Sanders Regional Medical Center and Physicians Regional Medical Center; eight Ambulatory Surgery Centers; and three hospital-based pain practices.
"Our longstanding relationships with the area's hospitals and surgeons, combined with American Anesthesiology's commitment to delivering the highest quality patient care, will be an asset to the communities we serve," said Tucker Gentry, M.D., partner at AMAET.
"We look forward to collaborating with a national medical group of anesthesiologists where we can have an even greater impact on improving anesthesia care and outcomes," adds Mitch Dickson, M.D., partner at AMAET.
The physicians joining as a result of this transaction will now be part of MEDNAX's American Anesthesiology division, which consists of more than 1,200 anesthesia providers, including more than 475 physicians and 735 anesthetists practicing in North Carolina, Virginia, Georgia, Florida, Texas, New Jersey, and Tennessee with administrative offices in Sunrise, Fla. and Raleigh, N.C.
This practice was acquired for cash and the transaction is expected to be immediately accretive to earnings. No additional terms of the transactions were disclosed.
With this acquisition, eight physician group practices have become part of MEDNAX in 2012, four as part of American Anesthesiology and four as part of Pediatrix Medical Group.
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