Mednax Sells American Anesthesiology

Mednax Sells American Anesthesiology

by | May 11, 2020 4:26 pm | Physician Medical Groups

Deal making is getting more creative in the time of COVID-19. Mednax, Inc. (NYSE: MD) sold its anesthesiology group, American Anesthesiology, Inc., to North American Partners in Anesthesia (NAPA), a portfolio company of American Securities, for $50 million. In an 8k filing on May 6, Mednax added a few terms to that $50 million price. It retained the accounts receivable of American Anesthesiology, which, net of various other working capital items, which were approximately $110 million as of March 31, 2020. It also retained a contingent economic interest in the success of NAPA with a value ranging from $0 to $250 million based upon the multiple of invested capital returned to NAPA’s owners... Read More »
Mednax Sells MedData, Pulls Back on M&A

Mednax Sells MedData, Pulls Back on M&A

by | Oct 11, 2019 4:40 pm | Physician Medical Groups, Private Equity

It’s been nearly a year since Mednax Inc. (NYSE: MD) announced its MedData subsidiary was headed for the auction block. The company acquired the privately held revenue cycle management company in August 2014 for an undisclosed amount. Now that Mednax has hired teams of consultants to help it rethink its business model, MedData is a non-core asset. Frazier Healthcare Partners agreed to pay $250 million for MedData in mid-October, although Mednax has classified MedData as discontinued operations since the first quarter of 2019. The target provides management services to hospitals, health systems and healthcare providers. Back in 2014, when Mednax bought it, MedData served 3,000 physicians at... Read More »