FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc. (NYSE: MD), the national health solutions partner specializing in prenatal, neonatal, and pediatric services, today announced that it has completed the previously announced sale of MEDNAX Radiology Solutions to Radiology Partners for total consideration of $885 million. The Company received net proceeds, after related transaction expenses and customary adjustments, of approximately $865 million.

“This transaction marks an important milestone for MEDNAX, as we are now wholly focused on providing high quality care to women, newborns and children through our Pediatrix and Obstetrix medical groups,” said Mark S. Ordan, Chief Executive Officer of MEDNAX. “In addition, the transaction will enable us to end the year 2020, and begin the year 2021, with a strong balance sheet to support our commitment to take great care of the patient, every day and in every way.”

MEDNAX intends to use the proceeds of the transaction to redeem its $750 million in outstanding principal amount of 5.25% senior notes due 2023, with a redemption date of January 7, 2021; to fund certain retained liabilities; and for general corporate purposes.

ABOUT MEDNAX

MEDNAX, Inc. is a national health solutions partner comprised of the nation’s leading providers of physician services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, consulting services, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The Company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 3,000 physicians in all 50 states and Puerto Rico. Additional information is available at www.mednax.com.