Mednax Expands Presence in Texas through Affiliation with Eight-Clinic Pediatric Urgent Care Practice
Mednax, Inc. (NYSE: MD) has announced its affiliation with NightLight Pediatric Urgent Care, based in Houston. This partnership marks the start of a new strategy aimed at enhancing pediatric care, incorporating urgent, primary, and telehealth services. Mednax plans to expand NightLight's existing services, offering a comprehensive pediatric continuum, including subspecialties and wellness programs. The cash transaction is expected to be immediately accretive to earnings. NightLight, operational since 2007, serves over 90,000 patients annually across eight locations in Houston.
- Affiliation with NightLight expected to enhance pediatric care services.
- Immediate accretive impact on earnings from the cash transaction.
- Expansion of services to include a comprehensive continuum of pediatric care.
- None.
Mednax, Inc. (NYSE: MD), the national medical group specializing in prenatal, neonatal and pediatric services, today announced its affiliation with NightLight Pediatric Urgent Care (NightLight), a private eight-clinic practice based in Houston. The affiliation with NightLight is the first step in a new strategy to reimagine pediatric ‘total’ care for patients in select markets throughout the country.
There is an opportunity to fundamentally change the delivery of pediatric care in the future. Mednax envisions a new model comprising urgent/acute care, primary care and telehealth. Patient services offered in the traditional pediatric urgent care clinic will be expanded to include:
- Pediatric continuum of care, including subspecialty services and primary care services with an integrative approach to pediatric health
- General and developmental pediatrics for high-risk newborns
- Complementary prenatal services with a focus on patient education
- Wellness, behavioral health and chronic pediatric diseases
“We are extremely excited to welcome NightLight to the Mednax family,” said James D. Swift, M.D., Chief Development Officer for Mednax. “We believe the business that Dr. Anastasia Gentles and Zawadi Bryant have created offers a great fit for the Pediatrix brand as we continue our focus on women’s and children’s services. We see an opportunity to expand and evolve the NightLight platform to offer not just urgent care but create a broader continuum for pediatric health and wellness.”
Founded in 2007, NightLight is a well-established practice that cares for families in the greater Houston metro area. The practice provides screening, diagnosis and treatment for a variety of minor non-emergent health issues, working in partnership with community pediatricians. Comprising seven physicians, 14 advanced practice providers and 20 nurses and medical assistants, the group serves more than 90,000 patients annually at eight locations throughout Houston: Cy-Fair, Garden Oaks, Humble, Katy, Pearland, Sugar Land, Tanglewood and Webster. As part of the affiliation, Dr. Gentles and Ms. Bryant will take on executive roles at Mednax, leading the development of the Company’s new pediatric 'total' care strategy.
“For 14 years, NightLight has been guided by our mission to be a beacon of healing that lights up lives in every community we serve,” said Ms. Bryant. “We are excited about our next chapter as we join the Mednax family, a leading provider of women’s and children’s health care. Their commitment to Take great care of the patient, every day and in every way™ resonated with our passion for high-quality patient care. This phenomenal partnership will broaden our reach and expand our services to families across the country, making more nights brighter.”
This affiliation adds to the services Pediatrix provides in Texas through its network of affiliated physicians across multiple specialties, including maternal-fetal medicine; OB hospitalist; neonatology; newborn nursery; newborn hearing screen; developmental pediatrics; and pediatric cardiology, critical care, hospitalist, infectious disease, ophthalmology, otorhinolaryngology, orthopedics, surgery and urology. The group provides care at 30 hospital partners in the greater Houston area.
This was a cash transaction, and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
ABOUT MEDNAX
Mednax, Inc. is a national medical group comprised of the nation’s leading providers of physician services. Physicians and advanced practitioners practicing as part of Mednax are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, clinical research and telehealth programs to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional entities, Mednax provides services through a network of more than 2,300 physicians in 39 states and Puerto Rico. Additional information is available at www.mednax.com.
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 COVID-19 pandemic on the Company and its financial condition and results of operations; the effects of economic conditions on the Company’s business; the effects of the Affordable Care Act and potential changes thereto or a repeal thereof; 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 divestiture of the Company’s anesthesiology and radiology medical groups; the impact of management transitions; the timing and contribution of future acquisitions; 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.
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