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Mednax buys another practice, its eighth this year

Mon, 08/16/2010 - 4:45am
The Associated Press

FORT LAUDERDALE, Fla. (AP) — Mednax has added a pediatric cardiology practice to its growing list of services, the national physician's group said Monday.

Terms were not disclosed.

The practice includes two doctors who provide cardiology services to pediatric patients throughout southern Texas where it is based. The doctors will become part of Mednax's Pediatrix Medical Group. Mednax has now bought eight practices this year.

The latest acquisition was an all-cash deal that is expected to immediately boost earnings, according to Mednax Inc.

Two weeks ago, the company reported that its second-quarter earnings climbed 14 percent thanks to new practices that were added at a cost of $20 million in cash over three months.

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