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Mednax (MD) Buys Night Lite Pediatrics to Boost Portfolio
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Mednax, Inc. (MD - Free Report) and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The cash transaction is projected to be immediately accretive to earnings. However, other details of the deal were kept under wraps.
Night Lite Orlando, founded in 2005, provides pediatric urgent care and telemedicine services along with COVID-19 testing and vaccines. This newly added facility with a solid team of practice providers and clinic support staff will help Mednax deliver the best services to patients.
Mednax leaves no stone unturned when it comes to streamlining its business and boosting its portfolio. It is consistently taking measures to enhance its pediatric business. The move is in line with its commitment to transform the pediatric primary and urgent care clinics throughout the country. Night Lite Pediatrics will soon be rebranded as Pediatrix along with the company’s existing affiliated practices. In 2019 and 2020, MD purchased four pediatric subspecialty practices and a pediatric subspecialty practice, respectively.
MD completed the buyouts of one pediatric orthopedic practice, one multi-location pediatric urgent care practice, one pediatric cardiology practice, one pediatric neurology practice and one maternal-fetal medicine practice for a total price of $24.6 million in the first nine months of 2021.
Mednax also sold MEDNAX Radiology Solutions to focus on its core pediatrics and obstetrics business lines. MD has a solid pipeline of activities coming up as well. The leading hospital industry player invested $20 million in purchasing a minority ownership in Brave Care, a modern pediatric primary and urgent care medical platform.
Shares of this currently Zacks Rank #3 (Hold) hospital player have lost 8.4% in a year's time against the industry's increase of 20.6%. However, its strategic buyouts and increasing top line on operational efficiency and solid segments augur well for long-term growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Stocks to Consider
Some better-ranked stocks in the medical space are Community Health Systems, Inc. (CYH - Free Report) , The Ensign Group Inc. (ENSG - Free Report) and Zoetis Inc. (ZTS - Free Report) .
Community Health Systems is a leading operator of general acute care hospitals and outpatient facilities in communities across the United States. With a Zacks Rank #1 at present, CYH delivers a trailing four-quarter surprise of 675%, on average.
Ensign Group provides health care services for the post-acute care continuum, urgent care center and mobile ancillary businesses in the United States. ENSG has a Zacks Rank of 2 at present. The average trailing four-quarter surprise is 1.77%.
Zoetis has a diversified business and is a leader in the animal health space. ZTS has a trailing four-quarter surprise of 12.7%, on average, and a Zacks Rank #2 (Buy), currently.
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Mednax (MD) Buys Night Lite Pediatrics to Boost Portfolio
Mednax, Inc. (MD - Free Report) and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The cash transaction is projected to be immediately accretive to earnings. However, other details of the deal were kept under wraps.
Night Lite Orlando, founded in 2005, provides pediatric urgent care and telemedicine services along with COVID-19 testing and vaccines. This newly added facility with a solid team of practice providers and clinic support staff will help Mednax deliver the best services to patients.
Mednax leaves no stone unturned when it comes to streamlining its business and boosting its portfolio. It is consistently taking measures to enhance its pediatric business. The move is in line with its commitment to transform the pediatric primary and urgent care clinics throughout the country. Night Lite Pediatrics will soon be rebranded as Pediatrix along with the company’s existing affiliated practices. In 2019 and 2020, MD purchased four pediatric subspecialty practices and a pediatric subspecialty practice, respectively.
MD completed the buyouts of one pediatric orthopedic practice, one multi-location pediatric urgent care practice, one pediatric cardiology practice, one pediatric neurology practice and one maternal-fetal medicine practice for a total price of $24.6 million in the first nine months of 2021.
Mednax also sold MEDNAX Radiology Solutions to focus on its core pediatrics and obstetrics business lines. MD has a solid pipeline of activities coming up as well. The leading hospital industry player invested $20 million in purchasing a minority ownership in Brave Care, a modern pediatric primary and urgent care medical platform.
Shares of this currently Zacks Rank #3 (Hold) hospital player have lost 8.4% in a year's time against the industry's increase of 20.6%. However, its strategic buyouts and increasing top line on operational efficiency and solid segments augur well for long-term growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some better-ranked stocks in the medical space are Community Health Systems, Inc. (CYH - Free Report) , The Ensign Group Inc. (ENSG - Free Report) and Zoetis Inc. (ZTS - Free Report) .
Community Health Systems is a leading operator of general acute care hospitals and outpatient facilities in communities across the United States. With a Zacks Rank #1 at present, CYH delivers a trailing four-quarter surprise of 675%, on average.
Ensign Group provides health care services for the post-acute care continuum, urgent care center and mobile ancillary businesses in the United States. ENSG has a Zacks Rank of 2 at present. The average trailing four-quarter surprise is 1.77%.
Zoetis has a diversified business and is a leader in the animal health space. ZTS has a trailing four-quarter surprise of 12.7%, on average, and a Zacks Rank #2 (Buy), currently.