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Pro-Trader Daily: Featured Company News - MEDNAX Acquires Leading South Florida Radiology Practice

Research Desk Line-up: HealthSouth Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for MEDNAX, Inc. (NYSE: MD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=MD. The Company announced on August 23, 2017, the acquisition of Miami-based Radiology Associates of South Florida (RASF) for an undisclosed sum. This comes as a part of MEDNAX's strategy to become the partner of choice for radiology physician services by combining physician excellence with world-class technological capabilities. This deal is the seventh physician group practice acquisition for MEDNAX so far in 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Specialized Health Services industry. Pro-TD has currently selected HealthSouth Corporation (NYSE: HLS) for due-diligence and potential coverage as the Company reported on July 31, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on HealthSouth when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MD; also brushing on HLS. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/'symbol=MD

http://protraderdaily.com/optin/'symbol=HLS

Deal Will Help Make MEDNAX a Leader in Radiology Services

Roger J. Medel, M.D. and Chief Executive Officer of MEDNAX, expressed his excitement about MEDNAX's capability to attract prominent radiology providers such as RASF to its integrated physician services offering and national radiology group. He also conveyed that the combination of technological capabilities that MEDNAX offers through vRad with its own practice-management expertise and physician-centric leadership would make it an exceptionally valued partner in radiology practices. He specifically mentioned that RASF's established leadership position in radiology and its partnership with Baptist Health South Florida will create significant opportunities for MEDNAX. Additionally, he believes that RASF's on-site physician excellence combined with world-class technological capabilities will help MEDNAX achieve its vision of becoming the renowned leader in radiology services

RASF, home to highly sub-specialized physicians

RASF, which was founded in 1960, has now become one of the largest independent radiology groups in the United States. The Company involves over 70 physicians who are highly sub-specialized, including cardiovascular imaging; neuroradiology; body imaging; nuclear medicine; onco-radiology; musculoskeletal radiology; ultrasonography; pediatric radiology; breast imaging; emergency radiology; interventional radiology; neuro-interventional; and vascular surgery. In fact, the group's Chairman and CEO, Ricardo C. Cury, M.D., also serves as Director of Cardiac Imaging at Baptist Hospital of Miami and Miami Cardiac & Vascular Institute.

RASF provides diagnostic radiology, interventional radiology and vascular surgery services at Baptist Health South Florida (BHSF), which is the largest healthcare system in South Florida. BHSF includes seven hospitals and over 50 outpatient facilities, while it performs approximately one million studies per year.

An Expansion Platform for RASF

Ricardo C. Cury, Chairman and CEO at RASF, highlighted that this new partnership with MEDNAX will enable RASF to sustain and augment its strong on-site physician footprint engaged in all the activities with the hospital partners. It will also deliver the much needed information technology platform and remote technology to develop RASF's after-hours coverage in an efficient and highly specialized manner.

Moreover, the acquisition will offer RASF the size and scale to expand its preliminary efforts with machine learning and artificial intelligence in radiology. It will also provide a strong data analytics platform, which would drive success in new payment models and prove the value of appropriate imaging to the care of patients.

Patricia Rosello, Chief Executive Officer for Baptist Outpatient Services, also believed that the partnership would put RASF on the correct expansion path. She commented that MEDNAX and vRad would be of considerable value to RASF and Baptist Health by adding remote technology infrastructure and expanding subspecialty expertise after-hours.

Transaction Details

  • Once the transaction is completed, MEDNAX would be able to read more than eight million studies annually.

  • Also, seven physician group practices will become part of MEDNAX in 2017 due to this acquisition.

  • It is a cash transaction, which is expected to be immediately accretive to earnings. However, the Company had not disclosed any additional information about the transaction yet.

About MEDNAX

MEDNAX Inc. is an American health solutions partner based in Sunrise, Florida. It comprises the country's leading providers of physician services. Founded in 1979, the Company now provides services through a network of nearly 3,800 physicians in all 50 states and Puerto Rico.

Last Close Stock Review

At the close of trading session on Thursday, August 24, 2017, MEDNAX's stock price fell slightly by 0.14% to end the day at $42.83. A total volume of 749.24 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 13.61. At Thursday's closing price, the stock's net capitalization stands at $3.97 billion.

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The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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SOURCE: Pro-Trader Daily

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