Pediatrix Medical Group Announces $250 Million Share Repurchase Program
鈥淚n view of our strong cash flow, current and forecasted cash balances and relatively low debt levels, our Board has authorized a
The timing and actual number of shares repurchased will depend on a variety of factors, including market price of the shares, general business and market conditions, applicable legal requirements, and alternative investment opportunities. The Company intends to execute the repurchase program consistent with its capital allocation strategy of prioritizing investment to grow the business over the long term.
Repurchases may be made through privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The repurchase program has a three-year term and may be suspended for periods or discontinued at any time.
ABOUT PEDIATRIX MEDICAL GROUP
Pediatrix庐 Medical Group, Inc. (NYSE:MD) is a leading provider of physician services. Pediatrix-affiliated clinicians are committed to providing coordinated, compassionate and clinically excellent services to women, babies and children across the continuum of care, both in hospital settings and office-based practices. Specialties include obstetrics, maternal-fetal medicine and neonatology complemented by multiple pediatric subspecialties. The group鈥檚 high-quality, evidence-based care is bolstered by significant investments in research, education, quality-improvement and safety initiatives. The physician-led company was founded in 1979 as a single neonatology practice and today provides its highly specialized and often critical care services through approximately 4,400 affiliated physicians and other clinicians. To learn more about Pediatrix, visit or follow us on , , and the . Investment information can be found at .
Certain statements and information 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 鈥淪ecurities Act鈥�), and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to the Company鈥檚 objectives, plans, strategies and financial performance, statements regarding the amount, timing and execution of, and sources of funding for, repurchases under the repurchase program, and all statements, other than statements of historical facts, 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 terminology such as 鈥渂elieve,鈥� 鈥渉ope,鈥� 鈥渕ay,鈥� 鈥渁nticipate,鈥� 鈥渟hould,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渨ill,鈥� 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥減ositioned,鈥� 鈥渟trategy鈥� and similar expressions, and are based on assumptions and assessments made by the Company鈥檚 management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no duty to update or revise any 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 forward-looking statements are described in the Company鈥檚 most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled 鈥淩isk Factors鈥�, as well the Company鈥檚 current reports on Form 8-K, filed with the Securities and Exchange Commission, and include the impact of the Company鈥檚 practice portfolio management plans and whether the Company is able to achieve the expected favorable impact to Adjusted EBITDA therefrom; the impact of the Company鈥檚 termination of its then third-party revenue cycle management provider and transition to a hybrid revenue cycle management model with one or more new third-party service providers, including any transition costs associated therewith; the impact of surprise billing legislation; the effects of economic conditions on the Company鈥檚 business; the effects of the Affordable Care Act, the One Big Beautiful Bill Act and potential additional healthcare reform; the Company鈥檚 relationships with government-sponsored or funded healthcare programs, including Medicare and Medicaid, and with managed care organizations and commercial health insurance payors; the Company鈥檚 ability to comply with the terms of its debt financing arrangements; the impact of management transitions; the timing and contribution of future acquisitions or organic growth initiatives; the effects of share repurchases; and the effects of the Company鈥檚 transformation initiatives, including its reorientation on, and growth strategy for, its hospital-based and maternal fetal medicine businesses.
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Kasandra H. Rossi
Executive Vice President, Chief Financial Officer & Treasurer
954-692-7163
[email protected]
Source: Pediatrix Medical Group, Inc.
