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Mednax acquires Texas multispecialty practice

Fort Lauderdale, Fla.-based Mednax acquired Spring, Texas-based Newborn Intensive Care Specialists, a multispecialty physician group practice.

The all-cash transaction is expected to be immediately accretive to earnings. Additional terms of the deal were not disclosed.

The transaction represents Mednax's third acquisition in three weeks. The company also purchased a Tennessee radiology clinic and a neonatology practice in Salt Lake City.

"The practice is excited to be joining Mednax's national network and look forward to the value and quality this will bring from a continuum of care perspective to the many communities we serve across multiple specialties," said NICS President and CEO Tung Giep, MD. "In addition, as healthcare consolidation becomes the norm, we know that Mednax's leadership and infrastructure as well as its national research, education and clinical quality initiatives will enhance our strategic market growth throughout the state of Texas."

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