James D. Swift, M.D., Elected to Pediatrix Board of Directors

Rhea-AI Summary

Pediatrix Medical Group (NYSE: MD) has elected James D. Swift, M.D., as a director effective March 8, 2023, following his recent appointment as CEO. This election fills a seat previously held by co-founder Roger J. Medel, M.D., who is recognized for his extensive contributions to the company. Pediatrix, established in 1979, is a leading provider of physician services in the U.S., focusing on maternal-fetal medicine, neonatology, and pediatric care through over 5,000 affiliated clinicians. The company emphasizes coordinated, compassionate care supported by quality improvement and safety initiatives.

Positive

• James D. Swift's election as a director may bring fresh leadership and insight to the board.
• Continued commitment to high-quality, evidence-based care in pediatric and maternal health.

Negative

• The departure of Roger J. Medel may raise concerns about continuity and experience in leadership.

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Pediatrix Medical Group, Inc. (NYSE: MD) today announced that its board of directors has elected James D. Swift, M.D., the Company’s chief executive officer, as a director effective March 8, 2023. This appointment fills a seat previously held by Roger J. Medel, M.D.

“Jim’s election follows his recent appointment as chief executive officer,” said Mark S. Ordan, executive chair of Pediatrix Medical Group. “On behalf of the Board, I also want to honor Roger, a co-founder of Pediatrix, for all he has done for the Company and for millions of women, babies and children through his decades-long commitment to Take Great Care of the Patient.”

ABOUT PEDIATRIX MEDICAL GROUP

Pediatrix® Medical Group, Inc. (NYSE:MD) is the nation’s leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by more than 20 pediatric subspecialties, as well as pediatric primary and urgent care clinics. The group’s high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through more than 5,000 affiliated physicians and other clinicians in 37 states. To learn more about Pediatrix, visit www.pediatrix.com or follow us on Facebook, Instagram, LinkedIn, Twitter and the Pediatrix blog. Investment information can be found at www.pediatrix.com/investors.

Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the Company’s most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled “Risk Factors”, as well the Company’s current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company’s transition to a third-party revenue cycle management provider; the impact of surprise billing legislation; the effects of economic conditions on the Company’s business; the effects of the Affordable Care Act and potential healthcare reform; the Company’s relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company’s ability to comply with the terms of its debt financing arrangements; the impact of the COVID-19 pandemic on the Company and its financial condition and results of operations; the impact of the divestiture of the Company’s anesthesiology and radiology medical groups; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company’s transformation initiatives, including its reorientation on, and growth strategy for, its pediatrics and obstetrics business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230308005876/en/

Charles Lynch

Senior Vice President, Finance and Strategy

954-384-0175, x 5692

charles.lynch@pediatrix.com

Source: Pediatrix Medical Group, Inc.

FAQ

Who is James D. Swift and what is his role at Pediatrix Medical Group?

James D. Swift is the chief executive officer of Pediatrix Medical Group and was recently elected as a director effective March 8, 2023.

What position did James D. Swift fill with his election?

James D. Swift's election fills the director position previously held by Roger J. Medel, a co-founder of the company.

What impact might the management change have on Pediatrix Medical Group?

The management change could bring new perspectives and strategies to the company, although there may be concerns regarding leadership continuity after Roger J. Medel's departure.

When was James D. Swift elected as a director of Pediatrix Medical Group?

James D. Swift was elected as a director effective March 8, 2023.