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MEDNAX acquires 2 medical practices

National medical group MEDNAX has acquired Northwest Anesthesia, a private physician group practice based in Minneapolis.

Northwest Anesthesia, established in 1974, is the first Minnesota-based practice to join MEDNAX. The clinical care team comprises 37 full-time equivalent anesthesiologists and 91 full-time equivalent anesthetists who provide services to seven Allina Health facilities, including Abbott Northwestern Hospital in Minneapolis, the Minneapolis Heart Institute and The Mother Baby Center, which has several Minnesota locations. In addition, Northwest Anesthesia is the exclusive provider of professional anesthesia services to several off-campus surgical centers throughout Minneapolis and other Allina Health tertiary hospitals.

"We felt that MEDNAX was the best strategic partner to help us grow our practice and navigate the changes occurring in the healthcare arena," Steven Dentz, MD, who will serve as medical director for the practice, said in a prepared statement. "MEDNAX's research, education and quality initiatives will strengthen our practice and allow us to demonstrate our value to our hospital partners."

MEDNAX also recently acquired Children's Eye Care of North Texas, a private pediatric ophthalmology practice based in Plano. The practice comprises one physician and three full-time administrative personnel. It provides services in 15 hospital and clinic locations throughout North Texas, including Medical City Children's Hospital in Dallas, The Medical Center of Plano, Texas Health Presbyterian Hospital Plano, Baylor University Medical Center in Dallas and Centennial Medical Center in Frisco.

The acquisition of CECNT expands the continuum of care MEDNAX currently provides in the North Texas market with maternal-fetal, newborn nursery and pediatric subspecialty services, including neonatal, developmental, cardiac and surgical care.

These were cash transactions, and they are expected to be immediately accretive to earnings. No additional terms of the transactions were disclosed.

 

More articles on transactions and partnerships:
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