American Anesthesiology, a division of MEDNAX, Inc. (NYSE: MD), today announced the acquisition of Austin Anesthesiology Group, L.L.P., a physician group practice that provides comprehensive adult and pediatric anesthesia services in Austin, TX.
Austin Anesthesiology Group (AAG), the first Texas-based group practice to join American Anesthesiology, is the exclusive provider of anesthesia services at four St. David's HealthCare System hospitals, 11 ambulatory surgery centers, and several office-based locations in the greater Austin metropolitan area. Annual anesthesia volume at the practice exceeds 85,000 cases.
The Texas group practice consists of 66 anesthesiologists, who practice as part of an Anesthesia Care Team model that includes 71 group-employed Certified Registered Nurse Anesthetists (CRNAs). AAG provides anesthesia services across a wide spectrum of subspecialty areas, including cardiac, pediatric, neonatal, obstetric and regional anesthesia.
"This new partnership represents the confidence that we have in American Anesthesiology's comprehensive resources, clinical expertise and broad experience as a national group practice. We view these factors as extremely important for our patients, as well as for the growth of our practice, particularly given the uncertainty in the current healthcare landscape," said Noah Bunker, M.D., who will serve as medical director of the American Anesthesiology practice. "We have built long-standing relationships with patients, surgeons and facilities in the Austin area over many years so it was critical for us to join an organization that understood our clinical culture and that valued our commitment to providing the best possible outcomes for all patients in the communities that we serve."
Today, American Anesthesiology has more than 850 anesthesia providers, including more than 375 physicians and 475 CRNAs and anesthesia assistants practicing in eight metropolitan areas in the Carolinas, Virginia, Georgia, South Florida and Austin, with administrative offices in Sunrise, FL, and Raleigh, NC.
The practice was acquired for cash and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transaction were disclosed.
With this acquisition, two physician group practices have become part of American Anesthesiology and seven physician group practices have become part of Pediatrix Medical Group during 2011.
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