Mednax ‘Excited about Radiology,’ Tallied $500M from Specialty in 2019

Physician services provider Mednax shared Thursday that it’s “very excited about radiology,” having earned half a billion dollars in revenue from the specialty in 2019. That represents a 9% uptick from the prior year, with 50% of growth occurring organically, officials said during their fourth quarter earnings call. Following the company’s acquisition of Boca Radiology Group—its 10th affiliated imaging practice—in January, Mednax now employs 800 radiologists interpreting 12 million studies annually, CEO Roger Medel, MD, told investors. Altogether, Mednax spent upward of $120 million on merger and acquisition activity in 2019, with about half of that going toward radiology. Officials anticipate 2020 to be a year of “stabilizing their financial results,” setting the stage for expansion in 2021, in pediatrics and other specialties.

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