MEDNAX, Inc., (NYSE:MD) today announced the acquisition of Holston Anesthesia Associates, P.C., a physician group practice based in Kingsport, Tenn. The practice will become part of MEDNAX's American Anesthesiology division and is the third Tennessee-based anesthesiology practice to join this division.
“It has become increasingly difficult for independent practices like ours to proactively address today's healthcare uncertainty and changing regulations while maintaining our reputation for clinical excellence”
Established in 1985, Holston Anesthesia Associates is a private group practice that employs 12 anesthesiologists and four administrative support staff providing anesthesia services across a wide spectrum of subspecialty areas, including neurosurgical, pediatric, obstetric, gynecological, cardiothoracic, general surgery and orthopedic care, as well as acute pain management services to Wellmont Holston Valley Medical Center, a level I trauma center, and Holston Valley Ambulatory Surgery Center.
MEDNAX's Pediatrix Medical Group division currently provides neonatal intensive care and hearing screen services at Wellmont Holston Valley Medical Center.
"It has become increasingly difficult for independent practices like ours to proactively address today's healthcare uncertainty and changing regulations while maintaining our reputation for clinical excellence," said Mark Carver, M.D., who will serve as medical director for the practice. "Joining American Anesthesiology will give us access to its proven infrastructure and facilitate collaboration with anesthesiologists nationwide through research education and quality initiatives, all while keeping our clinical autonomy. We are confident that this will result in even better patient care and outcomes, which is always our top priority."
MEDNAX's American Anesthesiology division consists of more than 1,700 anesthesia providers, including more than 700 physicians and 1,000 anesthetists practicing in Florida, Georgia, Michigan, New Jersey, New York, North Carolina, Tennessee, Texas, and Virginia. 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, seven physician group practices have become part of MEDNAX in 2013, four as part of American Anesthesiology, and three as part of Pediatrix Medical Group.
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