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Pediatrix buys Va. anesthesia group

Sep 11, 2007 | Staff | South Florida Business Journal

Pediatrix Medical Group said it has bought Fairfax Anesthesiology Associates for an undisclosed amount.

The cash deal brings 53 anesthesiologists and 60 certified registered nurse anesthetists to the Fort Lauderdale-based newborn, maternal-fetal and pediatric physician subspecialty firm.

Falls Church, Va.-based FAA is the exclusive anesthesiology provider at Inova Health System's Inova Fairfax Hospital.

"We've attracted one of the nation's premier anesthesiology groups as our first anesthesia group practice," Pediatrix Chief Executive Officer Dr. Roger J. Medel said in a release. "FAA has an extensive track record of delivering high-quality patient care, while working with its hospital partner to support the growth of Inova Fairfax over more than 30 years. We're pleased that FAA will be a foundation for our future national group practice in anesthesiology and we're excited about this significant new growth platform for our organization."

Pediatrix (NYSE: PDX) said it expects the acquisition to contribute 2 cents a share to annual earnings.

Shares closed up $1.25 to $60.90. The 52-week high was $60.35 on April 19. The 52-week low was $43.85 on Nov. 1.