<SEC-DOCUMENT>0001157523-11-002603.txt : 20110503
<SEC-HEADER>0001157523-11-002603.hdr.sgml : 20110503
<ACCEPTANCE-DATETIME>20110503080846
ACCESSION NUMBER:		0001157523-11-002603
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20110503
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110503
DATE AS OF CHANGE:		20110503

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEDNAX, INC.
		CENTRAL INDEX KEY:			0000893949
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HOSPITALS [8060]
		IRS NUMBER:				650271219
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12111
		FILM NUMBER:		11802911

	BUSINESS ADDRESS:	
		STREET 1:		1301 CONCORD TERRACE
		CITY:			SUNRISE
		STATE:			FL
		ZIP:			33323
		BUSINESS PHONE:		9543840175

	MAIL ADDRESS:	
		STREET 1:		1301 CONCORD TERRACE
		CITY:			SUNRISE
		STATE:			FL
		ZIP:			33323

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PEDIATRIX MEDICAL GROUP INC
		DATE OF NAME CHANGE:	19950801
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6705897.htm
<DESCRIPTION>MEDNAX, INC. 8-K
<TEXT>
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    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 11pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 11pt"><br style="font-size: 11pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 11pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>Washington,
      D.C. 20549</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>FORM
      8-K</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>CURRENT
      REPORT</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>
      Pursuant to Section 13 or 15(d) of the</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>Securities
      Exchange Act of 1934</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>Date
      of Report (date of earliest event reported): May 3, 2011</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><u><font style="font-family: Times New Roman; font-size: 11pt"><b>MEDNAX,
      INC.</b></font></u><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>(Exact
      Name of Registrant as Specified in Its Charter)</b></font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="width: 32%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Florida</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td style="width: 32%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>001-12111</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td style="width: 32%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>26-3667538</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 32%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or Other Jurisdiction of</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Incorporation)</b>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 32%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission File</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Number)</b>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 32%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="width: 25%">
          &#160;
        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1301 Concord Terrace</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Sunrise, Florida 33323</b>
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 25%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 25%">

        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Address
            of principal executive office) (zip code)</b></font>
          </p>
        </td>
        <td style="width: 25%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman"><b>Registrant&#8217;s
      telephone number, including area code </b></font><b><u>(954) 384-0175</u></b><br>
    </p>
    <hr style="color: #000000; height: 1.0 pt; width: 100%; text-align: center">
    <hr style="color: #000000; height: 1.0 pt; width: 100%; text-align: center">


    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</b>
    </p>
    <p>
      On May 3, 2011, MEDNAX, Inc. (the &#8220;Company&#8221;) issued a press release
      announcing the results of its operations for the three months ended
      March 31, 2011 (the &#8220;First Quarter Release&#8221;).&#160;&#160;A copy of the First
      Quarter Release is attached hereto as Exhibit 99.1 and is hereby
      incorporated in this Current Report by reference.&#160;&#160;The information
      contained in this Item 2.02, including Exhibit 99.1, shall not be deemed
      &#8220;filed&#8221; with the Securities and Exchange Commission nor incorporated by
      reference in any registration statement or other document filed by the
      Company under the Securities Act of 1933, as amended, except as shall be
      expressly set forth by specific reference in such filing.<br><br><br><b>Item
      9.01&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>&#160;&#160;(d)&#160;&#160;&#160;&#160;&#160;Exhibits.</b>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;99.1&#8212;Press Release of MEDNAX, Inc. dated May 3,
      2011
    </p>
    <p>

    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
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        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>MEDNAX, INC.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="text-align: left; padding-left: 0.0px" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 5%; text-align: left; padding-left: 0.0px" valign="top">
          Date:
        </td>
        <td style="padding-bottom: 2.0px; width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          May 3, 2011
        </td>
        <td style="padding-bottom: 2.0px; width: 4%; text-align: left; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="width: 46%; text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Vivian Lopez-Blanco
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 46%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Vivian Lopez-Blanco
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 46%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b>
    </p>
    <p style="text-align: left">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 10pt">
      <tr>
        <td style="width: 12%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="width: 88%; text-align: left; padding-left: 25.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 12%; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="width: 88%; text-align: left; padding-left: 5.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release of MEDNAX, Inc. dated May 3, 2011.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6705897ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>MEDNAX&#8217;s
      2011 First Quarter EPS Grows by 16 Percent to 94 Cents</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Expects
      Second Quarter EPS of $1.11 to $1.17</b></font></i>
    </p>
    <p>
      FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 3, 2011--MEDNAX, Inc. (NYSE:
      MD) today reported earnings per share of 94 cents for the three months
      ended March 31, 2011, that were driven by strong revenue growth from
      both acquisitions and same-unit revenue, that led to operating margin
      expansion.
    </p>
    <p>
      For the 2011 first quarter, compared to the prior-year period, MEDNAX
      reported:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue growth of 15 percent to $382.3 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Operating income growth of 19 percent to $75.7 million;
      </li>
      <li style="margin-bottom: 10.0px">
        Operating margin expansion of 72 basis points to 19.8 percent;
      </li>
      <li style="margin-bottom: 10.0px">
        Net income growth of 19 percent to $45.5 million; and
      </li>
      <li style="margin-bottom: 10.0px">
        Earnings per share growth of 16 percent to 94 cents.
      </li>
    </ul>
    <p>
      &#8220;Our results for the 2011 first quarter reflect the significant
      contributions we&#8217;re generating from our ongoing acquisition program, as
      well as better than expected same-unit revenue growth for the period,&#8221;
      said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. &#8220;We
      continue to achieve solid operating margin improvements as we grow our
      presence across all of our physician specialties and subspecialties, and
      integrate newly acquired practices into our national group model.&#8221;
    </p>
    <p>
      MEDNAX&#8217;s net patient service revenue for the 2011 first quarter grew by
      15 percent to $382.3 million from $332.9 million for the comparable 2010
      period. Revenue growth included contributions from acquisitions
      completed during the previous 12 months, as well as a 3.7 percent
      increase in same-unit revenue.
    </p>
    <p>
      Same-unit revenue growth from net reimbursement-related factors was 2.2
      percent, and was driven principally by improved reimbursement from
      third-party commercial payors, as well as a shift in the mix of the
      Company&#8217;s services reimbursed under commercial-payor programs, from
      government programs, during the period. Same-unit payor mix for the 2011
      first quarter improved by 120 basis points from the prior-year period.
      Same-unit revenue growth attributable to patient volume increased by 1.5
      percent, and included strong volume growth from the Company&#8217;s
      anesthesia, neonatal and pediatric cardiology practices. The number of
      neonatal intensive care unit (NICU) patient days increased by 0.7
      percent on a same-unit basis for the 2011 first quarter, compared to the
      prior-year.
    </p>
    <p>
      MEDNAX had income from operations of $75.7 million for the 2011 first
      quarter, a 19 percent improvement from $63.6 million for the prior-year
      period.
    </p>
    <p>
      Operating margin improved to 19.8 percent for the 2011 first quarter, up
      72 basis points from 19.1 percent for the prior-year period. Operating
      margin improvement was a result of the Company&#8217;s revenue growth from
      acquisitions, as well as same-unit revenue growth and continued
      effective management of administrative expenses.
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      General and administrative expenses grew by 10 percent for the 2011
      first quarter from the prior-year period, and continue to grow at a rate
      considerably lower than revenue growth. General and administrative
      expenses were<i> </i>10.9 percent of revenue for the 2011 period, a 51
      basis-point improvement from the prior year.
    </p>
    <p>
      Net income for the three months ended March 31, 2011, was $45.5 million,
      up 19 percent from $38.3 million for the prior-year period.
    </p>
    <p>
      MEDNAX&#8217;s earnings per share for the 2011 first quarter increased by 16
      percent to 94 cents, based on a weighted average 48.4 million shares
      outstanding, from 81 cents, based on a weighted average 47.3 million
      shares outstanding for the 2010 first quarter.
    </p>
    <p>
      MEDNAX had cash and cash equivalents of $15.0 million at March 31, 2011,
      and net accounts receivable were $188.2 million. At the end of the 2011
      first quarter, the Company had $176.5 million outstanding on its $350
      million revolving credit facility.
    </p>
    <p>
      During the 2011 first quarter, MEDNAX used $14.5 million of its cash to
      fund operations, which compares with $41.6 million of cash used to fund
      operations for the 2010 first quarter. MEDNAX typically uses cash during
      the first quarter of each year as it pays incentive bonuses, principally
      to physicians, and employee benefit plan matching contributions that had
      accrued during the prior year.
    </p>
    <p>
      MEDNAX also used $10.1 million of its cash during the 2011 first quarter
      to fund three physician group practice acquisitions and to make
      contingent purchase price payments for previously completed
      acquisitions. During the 2011 first quarter, MEDNAX acquired a
      maternal-fetal medicine practice and a pediatric after-hours clinic,
      both in San Antonio, Texas, as well as a pediatric cardiology practice
      based in Miami, Florida.
    </p>
    <p>
      Outlook
    </p>
    <p>
      MEDNAX expects earnings for the 2011 second quarter to be in a range of
      $1.11 to $1.17 per share. MEDNAX&#8217;s forecast earnings per share range
      assumes that total same-unit revenue for the three months ended June 30,
      2011, will be between 1 percent and 3.5 percent higher than for the
      prior-year period.
    </p>
    <p>
      The forecast anticipates that same-unit growth will be evenly divided
      between volume growth and net reimbursement growth.
    </p>
    <p>
      The same-unit revenue growth range assumes combined volume growth across
      all MEDNAX physician specialties, as well as variability related to
      reimbursement factors, including the mix of services reimbursed under
      commercial and government payors and improvements from commercial
      contract rates.
    </p>
    <p>
      Earnings conference call
    </p>
    <p>
      MEDNAX, Inc. will host an investor conference call to discuss the
      quarterly results at 10 a.m., Eastern Daylight Time, today. The
      conference call Webcast may be accessed from the Company&#8217;s Website, <u>www.mednax.com</u>.
      A telephone replay of the conference call will be available from noon,
      EDT, today through midnight, EDT, May 17, 2011, by dialing 800-475-6701,
      access code 198466. The replay will also be available at <u>www.mednax.com</u>.
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>ABOUT MEDNAX</b>
    </p>
    <p>
      MEDNAX, Inc., is a national medical group that comprises the nation's
      leading provider of neonatal, maternal-fetal and pediatric physician
      subspecialty services as well as anesthesia 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 and clinical
      research to enhance patient outcomes and provide high-quality,
      cost-effective care. Pediatrix Medical Group, a unit of MEDNAX, was
      founded in 1979 and now includes neonatal physicians who provide
      services at more than 300 neonatal intensive care units, who collaborate
      with affiliated maternal-fetal medicine, pediatric cardiology and
      pediatric critical care physician subspecialists to provide a clinical
      care continuum. Pediatrix is also the nation's largest provider of
      newborn hearing screens. In 2007, the Company expanded into anesthesia
      services. Today, American Anesthesiology includes more than 700
      anesthesiologists and advanced practitioners. MEDNAX, through its
      affiliated professional corporations, employs more than 1,650 physicians
      in 33 states and Puerto Rico. Additional information is available at <u>www.mednax.com</u>.
    </p>
    <p>
      <i>Certain statements and information in this press release may be
      deemed to contain forward-looking statements which may include, but are
      not limited to, statements relating to our objectives, plans and
      strategies, 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
      &quot;believe&quot;, &quot;hope&quot;, &quot;may&quot;, &quot;anticipate&quot;, &quot;should&quot;, &quot;intend&quot;, &quot;plan&quot;,
      &quot;will&quot;, &quot;expect&quot;, &quot;estimate&quot;, &quot;project&quot;, &quot;positioned&quot;, &quot;strategy&quot; and
      similar expressions, and are based on assumptions and assessments made
      by MEDNAX's 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
      MEDNAX 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 MEDNAX's
      most recent Annual Report on Form 10-K and its Quarterly Reports on Form
      10-Q, including the sections entitled &quot;Risk Factors&quot;, as well MEDNAX's
      current reports on Form 8-K,filed with the Securities and Exchange
      Commission.</i>
    </p>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="9" valign="top">
          <b>MEDNAX, Inc.</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="9" valign="top">
          <b>Condensed Consolidated Statements of Income</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="9" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>March 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="3" valign="bottom">
          <b>2011</b>
        </td>
        <td>
          &#160;
        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="3" valign="bottom">
          <b>2010</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" colspan="7" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>(in thousands,</u><br><u>except for per share data)</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Net patient service revenue
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          382,283
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          332,927
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Operating expenses:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Practice salaries and benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          243,894
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          213,402
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          Practice supplies and other operating expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,090
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13,095
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          General and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41,798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,099
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,781
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,780
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 15.0px" valign="bottom">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          306,563
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          269,376
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          75,720
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          63,551
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Investment income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          325
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          404
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Interest expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (911
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (710
        </td>
        <td style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="bottom">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          75,134
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          63,245
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Income tax provision
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          29,678
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          24,982
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Net income
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          45,456
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          38,263
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Net income per common and common equivalent share (diluted)
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.94
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.81
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Weighted average shares used in computing net income<br>per common
            and common equivalent share (diluted)
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          48,361
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          47,267
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; margin-left: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; font-family: Times New Roman; margin-bottom: 10.0px; font-size: 8pt">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>Balance Sheet Highlights</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" colspan="7" valign="bottom">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>As of</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="2" valign="bottom">
          <b>As of</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>March 31, 2011</b>
        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" colspan="2" valign="bottom">
          <b>December 31, 2010</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: center; padding-left: 0.0px" colspan="5" valign="bottom">
          (in thousands)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Assets:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          15,049
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          26,251
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Short-term investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,658
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,381
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          188,170
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          181,395
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          74,297
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          70,982
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          Goodwill, other assets, property and equipment
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,773,626
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,741,637
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Total assets
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,065,800
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,037,646
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Liabilities and shareholder's equity:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Accounts payable &amp; accrued expenses
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          121,111
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          207,937
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Total debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          177,337
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          146,681
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Other liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          261,601
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          235,574
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Total liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          560,049
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          590,192
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Shareholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,505,751
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,447,454
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 0.0px; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          Total liabilities and shareholders' equity
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,065,800
        </td>
        <td>

        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,037,646
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>MEDNAX, Inc.<br>Bob Kneeley, 954-384-0175, x-5300<br>Vice
      President, Investor Relations<br><u>bob_kneeley@mednax.com</u>
    </p>
    <p>

    </p>
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</DOCUMENT>
</SEC-DOCUMENT>
