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.”
More articles on transactions and valuations:
This week’s 3 most-read transactions and valuations stories
US News: More children’s hospitals aligning to provide better care
5 most-read transactions and valuations stories in January
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
