Mednax Inc. (NYSE: MD) is buying Millennium Anesthesia Care, as the company continues to build up in anesthesia.
Millennium, headquartered in Tampa, Florida, provides services at five BayCare Health System/St. Joseph's Hospital facilities, including an ambulatory surgery center. The group provides general anesthesia, neurosurgery, cardiac vascular, pediatric, orthopedic, obstetric, gynecologic, chronic pain and acute pain management-related services.
Fort Lauderdale, Florida-based Mednax has spent years growing in anesthesia by buying physician groups. The company also specializes in neonatal care.
Some of the business’ recent acquisitions include the $500 million purchase of VRad, an x-ray and ultrasound operation with 350 physicians, and Mosaic Anesthesia & Perioperative Services PC, an anesthesiology practice.
The additional pressure that the Affordable Care Act places on health care providers has driven consolidation among physician groups. For more, see ACA Reshuffles the Deck. For more on trends in health care, see 5 Technologies That Drove Health Care M&A in 2014.