BENSALEM, Pa.--(BUSINESS WIRE)--Aug 21, 2018--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased MEDNAX, Inc. (“Mednax” or the “Company”) (NYSE:  MD ) securities between February 4, 2016 to July 27, 2017, inclusive (the “Class Period”). Mednax investors have until  September 10, 2018 to file a lead plaintiff motion.

Investors that suffered losses on their Mednax investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On April 20, 2017, Mednax announced poor financial results for the first quarter of 2017, including missed earnings. Mednax also reported that “[s]ame-unit revenue from net reimbursement-related factors is expected to decline by 0.6 percent for the first quarter of 2017, compared to the first quarter of 2016, driven by a 90 basis point payor mix shift to government payors that impacted same-unit pricing negatively by 150 basis points.” On this news, Mednax’s share price fell $5.39, or 8.1%, to close at $61.30 per share on April 20, 2017.

Then, on July 28, 2017, during its second quarter earnings call, Mednax announced that the Company had failed to complete acquisitions of anesthesiologist practices during the quarter and that any future anesthesiologist acquisitions were unlikely, citing the “challenging” payor mix combined with “continued . . . growth in compensation expense for nurse anesthetists.” On this news, Mednax’s share price fell $8.76 or 15.5%, to close at $47.73 per share on July 28, 2017, thereby further injuring investors.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's business model depended on growth from the acquisition of new practice groups, primarily in anesthesiology; and that (2) Mednax's business model is not sustainable and its growth was based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections.

If you purchased shares of Mednax during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180821005721/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2018.

PUB: 08/21/2018 06:22 PM/DISC: 08/21/2018 06:22 PM

http://www.businesswire.com/news/home/20180821005721/en