Mednax Prices Private Placement of $400 Million Senior Bonds Due 2030
FORT LAUDERDALE, Florida, February 02, 2022–(BUSINESS WIRE)–Mednax, Inc. (NYSE: MD) (“Mednax”) today announced the pricing of $400.0 million aggregate principal amount of $5.375 Senior Lien Notes % maturing in 2030 (the “Remarks“) in the context of a private offer (the “Offer“) which is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Law“). The Offering is expected to close on February 11, 2022, subject to customary closing conditions.
As previously announced, if the Offer is successfully completed, Mednax intends to use the net proceeds of the Offer and other available funds, including cash on hand and proceeds from its credit agreement, to redeem its 6.25% Senior Notes due 2027 (the “Tickets 2027“).
The Notes are offered and sold only to persons reasonably considered to be qualified institutional purchasers on the basis of Rule 144A under securities law and to non-US persons outside the United States in accordance with Regulation S under securities law. The Notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful before registration or qualification. under the securities laws of such jurisdiction. This press release does not constitute an offer to purchase, the solicitation of an offer to purchase or a notice to redeem the 2027 Bonds.
Mednax, Inc. is a national medical group comprised of the nation’s leading medical service providers. Physicians and advanced practitioners practicing within Mednax’s Pediatrix and Obstetrix medical groups are reshaping the delivery of care in their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, clinical research programs and telehealth to improve patient outcomes and provide high quality care. , cost-effective care. The company was founded in 1979 and today, through its affiliated professional entities, Mednax provides services through a network of more than 2,400 physicians in 38 states and Puerto Rico.
Certain statements and information contained 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 “Litigation Act”). securities”), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements regarding the Company’s objectives, plans and strategies, and all statements, other than statements of historical fact, 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 terms such as “believe”, “hope”, “may”, “anticipate”, “should”, “intend”, “plan”, “will”, “expect”. to”, “estimate”, “project”, “positioned”, “strategy” and similar expressions, and are based on assumptions and assessments made by the Company’s management in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes to be appropriate. All forward-looking statements contained in this press release are made as of the date hereof, and the Company assumes no obligation to update or revise 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 the forward-looking statements are described in the company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, including including the sections titled “Risk Factors”, together with the Company’s current reports on Form 8-K, filed with the Securities and Exchange Commission, and includes the risks and uncertainties associated with market conditions and the satisfaction of customary closing dates related to the offer; the impact of the COVID-19 pandemic on the Company, its financial condition and results of operations; the effects of economic conditions on the Company’s business; the effects of the on affordable care and potential amendments thereto or its repeal; the Company’s relationships with health care programs government-sponsored or funded, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payers; the impact of surprise billing legislation; the Company’s ability to meet the terms of its debt financing agreements; the Company’s transition to a third-party revenue cycle management provider; the impact of the disposal of the Company’s anesthesiology and radiology medical groups; the impact of managerial transitions; the timing and contribution of future acquisitions; the effects of share buybacks; and the effects of the Company’s transformation initiatives, including its reorientation and growth strategy for its pediatrics and obstetrics businesses.
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