Latest news with #Pediatrix
Business Wire
01-07-2025
- Business
- Business Wire
Pediatrix Board Appoints Kurt D. Newman, M.D. as Independent Director
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Pediatrix Medical Group, Inc. (NYSE: MD), a leading provider of physician services, today announced that its board of directors has appointed Kurt D. Newman, M.D., former President and Chief Executive Officer of Children's National Hospital in Washington, D.C. and Professor Emeritus of Surgery and Pediatrics at George Washington University School of Medicine and Health Sciences, as an independent director, effective July 1, 2025. Dr. Newman, a surgeon and nationally recognized leader in pediatric healthcare and a long-term healthcare executive, served as President and Chief Executive Officer of Children's National Hospital for 12 years, after spending over 25 years there as a pediatric surgeon. Dr. Newman fostered a culture of patient-centered care and championed a culture of innovation in research, operations and clinical care. Dr. Newman is a strong advocate for expanding mental health access for children and has led two national forums on this issue. He is the author of a best-selling book, 'Healing Children: a Surgeon's Stories from the Frontiers of Pediatric Medicine.' Dr. Newman was recognized as 'CEO of the Year' by the Washington Business Journal in 2021 and inducted into the Washington Business Hall of Fame in 2023. 'On behalf of the Pediatrix board, I am honored to welcome Dr. Newman,' said Guy Sansone, Pediatrix Lead Independent Director. 'Dr. Newman's clinical insight, patient-centric perspective, and profound understanding of the healthcare landscape will be invaluable as we navigate the challenges and opportunities ahead. We look forward to Dr. Newman's contributions as we work together to advance our mission.' 'We are thrilled to welcome Dr. Newman. His deep understanding of patient needs, clinical practices and the evolving healthcare landscape will be a tremendous asset to Pediatrix leadership,' said Mark S. Ordan, Chair of the Board of Directors and Chief Executive Officer. 'It is a great honor to join the board of Pediatrix, an organization that plays a significant role in caring for the most vulnerable patients and a vital role in advancing clinical excellence,' said Dr. Kurt Newman. 'The physician voice is central to patient-centered decision making. I look forward to contributing my experience to strengthen collaboration between physicians, other clinicians, executive leadership and the board so that patient care remains at the forefront, with the goal of building a more sustainable, resilient and effective healthcare system for all." Dr. Newman serves on the boards of Children's Miracle Network Hospitals, Corus International, Fight for Children and the Potomac Conservancy and previously served on the boards of Children's National Hospital and YMCA Camp Sea Gull/Seafarer. ABOUT PEDIATRIX MEDICAL GROUP Pediatrix® Medical Group, Inc. (NYSE:MD) is a leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by multiple pediatric subspecialties. The group's high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through approximately 4,400 affiliated physicians and other clinicians. To learn more about Pediatrix, visit or follow us on Facebook, Instagram, LinkedIn and the Pediatrix blog. Investment information can be found at Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company's objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as 'believe,' 'hope,' 'may,' 'anticipate,' 'should,' 'intend,' 'plan,' 'will,' 'expect,' 'estimate,' 'project,' 'positioned,' 'strategy' and similar expressions, and are based on assumptions and assessments made by the Company's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the Company's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled 'Risk Factors', as well the Company's current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company's practice portfolio management plans and whether the Company is able to achieve the expected favorable impact to Adjusted EBITDA therefrom; the impact of the Company's termination of its then third-party revenue cycle management provider and transition to a hybrid revenue cycle management model with one or more new third-party service providers, including any transition costs associated therewith; the impact of surprise billing legislation; the effects of economic conditions on the Company's business; the effects of the Affordable Care Act and potential healthcare reform; the Company's relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company's ability to comply with the terms of its debt financing arrangements; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company's transformation initiatives, including its reorientation on, and growth strategy for, its hospital based and maternal fetal businesses.
Washington Post
06-05-2025
- Business
- Washington Post
Pediatrix Medical Group: Q1 Earnings Snapshot
SUNRISE, Fla. — SUNRISE, Fla. — Pediatrix Medical Group, Inc. (MD) on Tuesday reported first-quarter earnings of $20.7 million. The Sunrise, Florida-based company said it had profit of 24 cents per share. Earnings, adjusted for one-time gains and costs, were 33 cents per share.
Business Wire
06-05-2025
- Business
- Business Wire
Pediatrix Medical Group Reports First Quarter Results
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Pediatrix Medical Group, Inc. (NYSE: MD), a leading provider of physician services, today reported earnings of $0.24 per share for the three months ended March 31, 2025. On a non-GAAP basis, Pediatrix reported Adjusted EPS of $0.33. For the 2025 first quarter, Pediatrix reported the following results: Net revenue of $458 million; Net income of $21 million; and Adjusted EBITDA of $49 million. 'Our strong first quarter results reflect same-unit top-line outperformance versus our expectations, continued steady cost management and the successful results of the portfolio restructuring we completed last year. As a result of our strong first quarter performance, we are raising our full year 2025 Adjusted EBITDA outlook from a range of $215 million to $235 million to a range of $220 million to $240 million, demonstrating our commitment to delivering value for our stakeholders,' said Mark S. Ordan, Chief Executive Officer of Pediatrix Medical Group. 'While we are raising our guidance, we remain mindful of the uncertainty that we face in the healthcare industry and the broad economic turbulence that is challenging virtually all companies.' Operating Results– Three Months Ended March 31, 2025 Pediatrix's net revenue for the three months ended March 31, 2025 was $458.4 million, compared to $495.1 million for the prior-year period. This decrease reflects the impact of non-same unit activity, primarily practice dispositions, partially offset by growth in same-unit net revenue of 6.2 percent. Same-unit revenue from net reimbursement-related factors increased by 4.6 percent for the 2025 first quarter as compared to the prior-year period. This increase primarily reflects improved payor mix and modest improvements in hospital contract administrative fees. The percentage of services reimbursed by commercial and other non-government payors increased by approximately 120 basis points compared to the prior year period. Same-unit revenue attributable to patient volume increased by 1.6 percent for the 2025 first quarter as compared to the prior-year period. Shown below are year-over-year percentage changes in certain same-unit volume statistics for the three months ended March 31, 2025. (Note: figures in the below table reflect contributions only to net patient service revenue and exclude other contributions to total same-unit revenue, including contract and administrative fees.) For the 2025 first quarter, practice salaries and benefits expense was $337.0 million, compared to $369.1 million for the prior-year period. This comparison primarily reflects the impact of practice disposition activity, partially offset by increases in same-unit clinical compensation costs, including incentive compensation based on practice results. For the 2025 first quarter, general and administrative expenses were $58.6 million, as compared to $60.2 million for the prior-year period. This decrease primarily reflects net staffing reductions, partially offset by increases in certain professional services and information technology expenses. For 2025 first quarter, transformational and restructuring related expenses were $6.6 million, compared to $8.5 million for the prior-year period. The expenses in both periods were primarily related to position eliminations and revenue cycle management transition activities. Adjusted EBITDA, which is defined as earnings before interest, taxes, depreciation and amortization and transformational and restructuring related expenses, was $49.2 million for the 2025 first quarter, compared to $37.2 million for the prior-year period. The increase in Adjusted EBITDA was primarily due to the net favorable impacts from same-unit results and practice disposition activity completed during 2024. Depreciation and amortization expense was $5.3 million for the first quarter of 2025, compared to $10.3 million for same period in 2024. This comparison was primarily related to a decrease in depreciation expense related to non-same unit activity, primarily practice dispositions. Interest expense was $9.2 million for the first quarter of 2025, compared to $10.6 million for the first quarter of 2024. Investment and other income was $4.7 million for the first quarter of 2025, compared to $2.0 million for the prior year period. The increase was primarily related to interest income earned on cash balances. Pediatrix generated net income of $20.7 million, or $0.24 per diluted share, for the 2025 first quarter, based on a weighted average 85.4 million shares outstanding. This compares with net income of $4.0 million, or $0.05 per diluted share, for the 2024 first quarter, based on a weighted average 83.3 million shares outstanding. For the first quarter of 2025, Pediatrix reported Adjusted EPS of $0.33, compared to $0.20 for the first quarter of 2024. For these periods, Adjusted EPS is defined as diluted income per common and common equivalent share excluding non-cash amortization expense, stock-based compensation expense, transformational and restructuring related expenses, and discrete tax events. Financial Position and Cash Flow – Continuing Operations Pediatrix had cash and cash equivalents of $99.0 million at March 31, 2025, compared to $229.9 million at December 31, 2024, and net accounts receivable at March 31, 2025 were $242.5 million. For the first quarter of 2025, Pediatrix used cash of $116.1 million to fund continuing operations, compared to a use of $122.6 million during the first quarter of 2024. Pediatrix typically uses cash during the first quarter of each year as it pays incentive compensation, primarily to its affiliated physicians, and makes employee benefit plan matching contributions that were accrued during the prior year. Additionally, during the first quarter of 2025, the Company used $3.3 million to fund capital expenditures. At March 31, 2025, Pediatrix had total debt outstanding of $611 million, consisting of its $400 million in 5.375% Senior Notes due 2030 and $211 million in borrowings under its Term A Loan. At March 31, 2025, the Company had no outstanding borrowings under its $450 million revolving line of credit. Updated 2025 Outlook As a result of the strong first quarter 2025 performance, Pediatrix is raising its full year 2025 outlook for Adjusted EBITDA, as defined above, and now anticipates Adjusted EBITDA will be in a range of $220 million to $240 million. Non-GAAP Measures A reconciliation of Adjusted EBITDA and Adjusted EPS to the most directly comparable GAAP measures for the three months ended March 31, 2025 and 2024 is provided in the financial tables of this press release. Earnings Conference Call Pediatrix will host an investor conference call to discuss the quarterly results at 9 a.m., ET today. The conference call Webcast may be accessed from the Company's Website, A replay of the conference call will also be available at ABOUT PEDIATRIX MEDICAL GROUP Pediatrix® Medical Group, Inc. (NYSE:MD) is a leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by multiple pediatric subspecialties. The group's high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through approximately 4,400 affiliated physicians and other clinicians. To learn more about Pediatrix, visit or follow us on Facebook, Instagram, LinkedIn and the Pediatrix blog. Investment information can be found at Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company's objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as 'believe,' 'hope,' 'may,' 'anticipate,' 'should,' 'intend,' 'plan,' 'will,' 'expect,' 'estimate,' 'project,' 'positioned,' 'strategy' and similar expressions, and are based on assumptions and assessments made by the Company's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the Company's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled 'Risk Factors', as well the Company's current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company's practice portfolio management plans and whether the Company is able to achieve the expected favorable impact to Adjusted EBITDA therefrom; the impact of the Company's termination of its then third-party revenue cycle management provider and transition to a hybrid revenue cycle management model with one or more new third-party service providers, including any transition costs associated therewith; the impact of surprise billing legislation; the effects of economic conditions on the Company's business; the effects of the Affordable Care Act and potential healthcare reform; the Company's relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company's ability to comply with the terms of its debt financing arrangements; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company's transformation initiatives, including its reorientation on, and growth strategy for, its hospital based and maternal fetal businesses. Pediatrix Medical Group, Inc. Reconciliation of Net Income to Adjusted EBITDA (in thousands) (Unaudited) Three Months Ended March 31, 2025 2024 Net income $ 20,737 $ 4,035 Interest expense 9,154 10,599 Income tax provision 7,353 3,789 Depreciation and amortization expense 5,332 10,308 Transformational and restructuring related expenses 6,605 8,480 Adjusted EBITDA $ 49,181 $ 37,211 Expand Pediatrix Medical Group, Inc. Reconciliation of Diluted Net Income per Share to Adjusted Income per Diluted Share ('Adjusted EPS') (in thousands, except per share data) (Unaudited) Three Months Ended March 31, 2025 2024 Weighted average diluted shares outstanding 85,430 83,275 Net income and diluted net income per share $ 20,737 $ 0.24 $ 4,035 $ 0.05 Adjustments (1): Amortization (net of tax of $430 and $863) 1,290 0.01 2,589 0.03 Stock-based compensation (net of tax of $573 and $716) 1,720 0.02 2,146 0.03 Transformational and restructuring expenses (net of tax of $1,651 and $2,120) 4,954 0.06 6,360 0.08 Net impact from discrete tax events (175 ) — 1,676 0.01 (1) A blended tax rate of 25% was used to calculate the tax effects of the adjustments for the three months ended March 31, 2025 and 2024. Expand Pediatrix Medical Group, Inc. Balance Sheet Highlights (in thousands) (Unaudited) As of March 31, 2025 As of December 31, 2024 Assets: Cash and cash equivalents $ 98,978 $ 229,940 Investments 120,198 118,566 Accounts receivable, net 242,529 259,990 Other current assets 29,965 31,111 Intangible assets, net 10,387 11,595 Operating and finance lease right-of-use assets 39,866 39,267 Goodwill, other assets, property and equipment 1,451,556 1,462,231 Total assets $ 1,993,479 $ 2,152,700 Liabilities and shareholders' equity: Accounts payable and accrued expenses $ 234,173 $ 398,690 Total debt, including finance leases, net 612,604 617,664 Operating lease liabilities 42,712 44,649 Other liabilities 314,802 326,759 Total liabilities 1,204,291 1,387,762 Total shareholders' equity 789,188 764,938 Total liabilities and shareholders' equity $ 1,993,479 $ 2,152,700 Expand Pediatrix Medical Group, Inc. Reconciliation of Net Income to Forward-Looking Adjusted EBITDA (in thousands) (Unaudited) Year Ended December 31, 2025 Net income $ 106,210 $ 120,810 Interest expense 36,870 36,870 Income tax provision 39,280 44,680 Depreciation and amortization expense 26,060 26,060 Transformational and restructuring related expenses 11,580 11,580 Adjusted EBITDA $ 220,000 $ 240,000 Expand
Business Wire
21-04-2025
- Business
- Business Wire
Pediatrix Medical Group 2025 First Quarter Conference Call/Webcast Scheduled for Tuesday, May 6, 2025
The investor conference call will be webcast and can be accessed at Pediatrix's website, ABOUT PEDIATRIX MEDICAL GROUP Pediatrix® Medical Group, Inc. (NYSE:MD) is a leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by multiple pediatric subspecialties. The group's high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through approximately 4,400 affiliated physicians and other clinicians. To learn more about Pediatrix, visit or follow us on Facebook, Instagram, LinkedIn and the Pediatrix blog. Investment information can be found at Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company's objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as 'believe,' 'hope,' 'may,' 'anticipate,' 'should,' 'intend,' 'plan,' 'will,' 'expect,' 'estimate,' 'project,' 'positioned,' 'strategy' and similar expressions, and are based on assumptions and assessments made by the Company's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the Company's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled 'Risk Factors', as well the Company's current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company's practice portfolio management plans and whether the Company is able to achieve the expected favorable impact to Adjusted EBITDA therefrom; the impact of the Company's termination of its then third-party revenue cycle management provider and transition to a hybrid revenue cycle management model with one or more new third-party service providers, including any transition costs associated therewith; the impact of surprise billing legislation; the effects of economic conditions on the Company's business; the effects of the Affordable Care Act and potential healthcare reform; the Company's relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company's ability to comply with the terms of its debt financing arrangements; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company's transformation initiatives, including its reorientation on, and growth strategy for, its hospital based and maternal fetal businesses.
Yahoo
10-02-2025
- Business
- Yahoo
Pediatrix Medical Group 2024 Fourth Quarter Conference Call/Webcast Scheduled for Thursday, February 20, 2025
FORT LAUDERDALE, Fla., February 10, 2025--(BUSINESS WIRE)--Pediatrix Medical Group, Inc. (NYSE: MD) will host an investor conference call and webcast on Thursday, February 20, 2025 at 9:00 a.m. ET to discuss results from operations for the quarter ended December 31, 2024. A detailed press release will be issued the morning of February 20, 2025 before the securities markets open. The investor conference call will be webcast and can be accessed at Pediatrix's website, ABOUT PEDIATRIX MEDICAL GROUP Pediatrix® Medical Group, Inc. (NYSE:MD) is a leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by multiple pediatric subspecialties. The group's high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through approximately 4,400 affiliated physicians and other clinicians. To learn more about Pediatrix, visit or follow us on Facebook, Instagram, LinkedIn and the Pediatrix blog. Investment information can be found at Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company's expectations with respect to its full year 2024 earnings, the Company's objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as "believe," "hope," "may," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy" and similar expressions, and are based on assumptions and assessments made by the Company's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the Company's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled "Risk Factors", as well the Company's current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company's practice portfolio management plans and whether the Company is able to achieve the expected favorable impact to Adjusted EBITDA therefrom; the impact of the Company's termination of its then third-party revenue cycle management provider and transition to a hybrid revenue cycle management model with one or more new third-party service providers, including any transition costs associated therewith; the impact of surprise billing legislation; the effects of economic conditions on the Company's business; the effects of the Affordable Care Act and potential healthcare reform; the Company's relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company's ability to comply with the terms of its debt financing arrangements; the impact of the divestiture of the Company's anesthesiology and radiology medical groups and its primary and urgent care practices; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company's transformation initiatives, including its reorientation on, and growth strategy for, its pediatrics and obstetrics business. View source version on Contacts Charles LynchSenior Vice President, Finance and Strategy954-384-0175, x
