News | Radiology Business | June 05, 2020

Mednax Announces Intent to Sell its Radiology Solutions

Company intends to return to original name, Pediatrix Medical Group, and to refocus as dedicated pediatrics and obstetrics organization

Mednax, a leading health solutions partner specializing in prenatal, neonatal, pediatric and radiology services, announced a number of steps it is taking as part of its aggressive transformational activity to position the company for long-term, sustainable growth

June 5, 2020 — Mednax, a leading health solutions partner specializing in prenatal, neonatal, pediatric and radiology services, announced a number of steps it is taking as part of its aggressive transformational activity to position the company for long-term, sustainable growth.

The company confirmed that it has been reviewing strategic alternatives for its radiology medical group, Mednax Radiology Solutions. Prior to the onset of the COVID-19 pandemic, Mednax had been in advanced discussions to divest this organization and plans to move forward with a divestiture, when market conditions are appropriate. Mednax intends to apply the proceeds from a sale of Mednax Radiology Solutions toward debt reduction.

As part of the Company’s 2020 financial expectations that Mednaxprovided prior to the impact of the COVID-19 pandemic, Mednax Radiology Solutions was expected to contribute approximately $550 million and $90 million in revenue and Adjusted EBITDA, respectively, to the company’s operating results for the year. In accordance with GAAP accounting, operating results for Mednax Radiology Solutions will continue to be reported as part of Mednax’s continuing operations at this time.

For more information: www.mednax.com

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