Pediatrix Medical Group has acquired Pediatric Cardiology Associates, an 11-pediatric cardiologist practice with offices in Tampa and St. Petersburg, Fla., and more than 70 employees, according to a news release. It was a cash deal and no terms were disclosed.
Headquartered in Sunrise, Fla., Pediatrix now has some 85 pediatric cardiologists included in its roster of 1,100 affiliated physicians in 32 states and Puerto Rico. This was the fifth practice acquisition Pediatrix has completed this year. Along with Pediatric Cardiology Associates, it has also bought a neonatal practice in Rockville, Md., a maternal-fetal medicine practice in Atlanta, and pediatric cardiology group practices based in El Paso, Texas, and Pembroke Pines, Fla.
According to its 10-Q Securities and Exchange Commission filing from May 8, Pediatrix also settled a shareholder lawsuit filed Aug. 30, 2007. According to the clerks office in the U.S. District Court Southern District of Florida, Miami, a civil action involving Pediatrix was terminated April 14. According to the 10-Q SEC filing, Pediatrix agreed in April to pay $1.5 million in fees and costs to the plaintiff's attorneys as part of the settlement. Pediatrix Director of Investor Relations Bob Kneeley confirmed that the case had been settled. -- by Andis Robeznieks