Mednax Inc. continues its rapid growth with yet another purchase of a physician group.
The Sunrise-based company (NYSE: MD) on Monday announced the purchase of Pediatric Cardiology Associates in Fairfax, Virginia. The acquisition marks the physician services company's eighth acquisition of 2016.
Pediatric Cardiology Associates employs six physicians and four sonographers that provide services to 10 office-based locations and eight hospitals in Northern Virginia and Maryland, including Inova Fairfax Hospital, an 833-bed medical center.
“We chose to join Mednax because of the support and infrastructure that comes with being part of a national medical group," said Sharon Karr, M.D., who will serve as medical director for the practice, in a statement. "We are comfortable knowing we will have clinical autonomy but be relieved of some of the regulatory and reimbursement responsibilities that have become so complex in today’s healthcare environment."
Terms of the cash deal were not disclosed.
"In addition, Mednax’s research, education and quality initiatives will give us the opportunity to engage with other pediatric subspecialty groups and strengthen the continuum of care we offer to our patients," Karr added.
Pediatric Cardiology Associates was established in 1987 and was the first full-time pediatric cardiology practice in Northern Virginia. The practice provides inpatient and outpatient cardiovascular care including diagnosis and treatment of fetuses, infants and children, as well as adults with congenital heart disease.
Mednax's last acquisition was June 20, when the company announced the purchase of White Plains, New York-based Westchester Anesthesiologists.