Mednax Inc. (MD) announced the acquisition of a neonatal group based in Covington, Louisiana, consisting of two physicians who provide neonatal intensive care and well-baby care at St. Tammany Parish Hospital.
The company specified that the hospital's Level III neonatal intensive care unit has annual patient volume in excess of 2,500 patient days.
The company said that physicians will practice as part of its Pediatrix Medical Group. The two physicians made the decision to join Pediatrix because of its commitment and devotion of resources to improving patient care and outcomes. MEDNAX paid cash for the practice, and the transaction is expected to be immediately accretive to its earnings. No additional terms of the transaction were disclosed.
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