MEDNAX acquires Burlington Anesthesia

MEDNAX, Inc.Apr 6 2012

MEDNAX, Inc., (NYSE: MD) today announced the acquisition of Burlington Anesthesia PLLC, a physician group practice that provides anesthesia services in Burlington, N.C. and Farhouch Berdjis MD Medical Corp (FBMC), a pediatric cardiology practice in Orange, Calif.    

Burlington Anesthesia consists of six anesthesiologists who practice as part of an Anesthesia Care Team model that includes 12 full-time equivalent Certified Registered Nurse Anesthetists (CRNAs). The practice provides exclusive anesthesia services at Alamance Regional Medical Center and Pioneer Ambulatory Surgery Center, both located in Burlington, N.C.

Burlington Anesthesia was established in 1978 and provides anesthesia services across a wide spectrum of subspecialty areas including orthopedic surgery, general surgery, obstetrics and gynecology, vascular, ophthalmic, otolaryngology, bariatric surgery and mild trauma. The practice cares for all age ranges, from neonate to geriatric.

"With the changing healthcare climate, it was the right time for us to join this leading anesthesiology group whose goals are aligned with ours," said Scott Palmer, M.D., Chairman of Burlington Anesthesia. "American Anesthesiology's focus on taking care of the patient aligns with what has been our number one priority for more than 30 years of service in the Burlington community. Further, we look forward to being a partner in the research, education and quality initiatives that they institute."

The physicians joining as a result of this transaction will now be part of MEDNAX's American Anesthesiology division, which consists of more than 900 anesthesia providers, including more than 400 physicians and 500 CRNAs and anesthesia assistants practicing in North Carolina, Virginia, Georgia, Florida, Texas, and New Jersey, with administrative offices in Sunrise, Fla. and Raleigh, N.C.

The acquisition of Farhouch Berdjis MD Medical Corp brings two cardiologists and six other staff members (clinical and administrative) to MEDNAX's Pediatrix Medical Group division. The practice is affiliated with 11 hospitals in the area including Children's Hospital of Orange County, Long Beach Memorial/Miller Children's Hospital and St. Jude's Medical Center.

FBMC provides a full spectrum of inpatient and outpatient services including echocardiograms, heart catheterizations, consultations and stress tests. Additionally, the practice is the only group in Orange County to have approval for the Melody heart valve procedure and was the first to be accredited for echocardiography by the Intersocietal Accreditation Commission (IAC).

FBMC was formed in 2005 by Farhouch Berdjis, M.D. and James Chu, M.D., with a primary office location in Orange, Calif. It now has an extensive outreach program including eight clinic outreach locations throughout Orange County.

"By joining Pediatrix, we now have the opportunity to share research, education and electronic medical records with more than 100 cardiac physicians and clinicians throughout the country," said Farhouch Berdjis, M.D., President of FBMC. "Pediatrix's innovative clinical model is reshaping the delivery of critical care through investments in the clinical, information and management systems necessary to advance evidence-based medicine and we look forward to being a part of this leading practice management group."

The physicians joining as a result of this transaction will now be part of MEDNAX's Pediatrix Medical Group, a national medical group consisting of the nation's leading neonatal, maternal-fetal medicine, pediatric cardiology, and other pediatric specialty physicians.

These practices were acquired for cash and the transactions are expected to be immediately accretive to earnings. No additional terms of the transactions were disclosed.

With these acquisitions, four physician group practices have become part of Pediatrix Medical Group and one group practice has become part of American Anesthesiology in 2012.