Roger Medel, M.D., founder of physician practice management company Pediatrix Medical Group in Fort Lauderdale, Fla., is returning to his former post as president and CEO following Kris Bratberg's resignation.
The company announced Thursday that Bratberg, 40, who joined Pediatrix in 1995, resigned for personal reasons. He was named president in 2000 and CEO in January 2003.
Medel, who served as CEO from 1979 through 2002, has agreed to a three-year contract. He will vacate his position as chairman of the board to allow for the appointment of a nonexecutive to that seat, in accordance with the governance policies of Pediatrix.
"We remain confident in our ability to execute our strategy of growing our group practice and increasing our operating efficiencies," Medel said in a written statement.
Pediatrix provides neonatal and perinatal care, with more than 620 physicians employed in 30 states and Puerto Rico. In 2002, the company reported a net income of $68.8 million on revenue of $465.5 million.
Since June 2002, the Federal Trade Commission has been investigating whether its $190 merger in May 2001 with Magella Healthcare Corp., Dallas, was anti-competitive. The deal gave Pediatrix about one-sixth of the national market for neonatal intensive care patients.