Mednax reports revenue growth in Q3

By staff writers

November 1, 2019 -- National medical group Mednax posted higher revenue for its third quarter and first nine months of 2019.

For the quarter (end-September 30), the company saw revenue of $888.7 million, a 4.7% increase compared with the $848.8 million for the same quarter of 2018. For the nine-month period, Mednax posted revenue of $2.608 billion, up 1.6% from $2.566 billion for the same period in 2018.

Net income figures from continuing operations were not available "without unreasonable effort due to the unpredictable nature of the reconciling item for the nonthird party consulting cost component of transformational and restructuring related expenses," the company wrote.

In other business, Mednax completed the previously announced sale of its MedData business to Frazier Healthcare Partners, effective October 31.

In November 2018, Mednax announced the initiation of a process to divest MedData to allow the company to focus on its core physician services business. In connection with the divestment, MedData was classified as discontinued operations beginning in the first quarter of 2019.

Copyright © 2019

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