Mednax acquires Pediatric Cardiology Associates in cash deal
Mednax acquired Pediatric Cardiology Associates on July 11 in a cash transaction for an undisclosed amount.
Pediatric Cardiology Associates, which formed in 1987, is the eighth physician group practice that Mednax has acquired this year. The practice consists of six physicians and four sonographers who provide services to 10 office-based locations and eight hospitals in Northern Virginia and Maryland.
Mednax, which was founded in 1979 as a neonatology group, now has a network of more than 3,400 physicians in 50 states and Puerto Rico. The company also offers revenue management and consulting services to healthcare facilities and physicians in more than 40 states.
On July 5, Mednax completed the acquisition of Cardon Outreach for $400 million.
Mednax's shares closed at $76.11 on July 11, which was virtually unchanged since the Pediatric Cardiology Associates deal announcement earlier in the day.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.