Mednax acquires Pediatric Cardiology Associates in cash deal

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Mednax acquired Pediatric Cardiology Associates on July 11 in a cash transaction for an undisclosed amount.

Pediatric Cardiology Associates, which formed in 1987, is the eighth physician group practice that Mednax has acquired this year. The practice consists of six physicians and four sonographers who provide services to 10 office-based locations and eight hospitals in Northern Virginia and Maryland.

Mednax, which was founded in 1979 as a neonatology group, now has a network of more than 3,400 physicians in 50 states and Puerto Rico. The company also offers revenue management and consulting services to healthcare facilities and physicians in more than 40 states.

On July 5, Mednax completed the acquisition of Cardon Outreach for $400 million.

Mednax's shares closed at $76.11 on July 11, which was virtually unchanged since the Pediatric Cardiology Associates deal announcement earlier in the day.