Pediatrix Completes New $350 Million Credit Facility

  
    
  
  
    
      Pediatrix Medical Group, Inc. (NYSE:PDX) today announced that it has 
      completed a new $350 million revolving credit facility that will provide 
      a funding source for acquisitions, as well as other corporate purposes. 
      The credit facility also features an option that would allow Pediatrix, 
      under certain conditions, to increase the total borrowing capacity under 
      the facility to $400 million.
    
    
      Pediatrix has successfully used its cash and credit facility to execute 
      a growth strategy that led to a national group practice of neonatal, 
      maternal-fetal, pediatric cardiology and pediatric intensive physicians 
      and advanced practitioners. The Company is also executing a new 
      strategic opportunity to develop a national anesthesia physician group 
      practice.
    
    
      The new line of credit was provided by a syndicate of 12 financial 
      institutions with Wachovia Bank, National Association, as Administrative 
      Agent, Bank of America, N.A., as Syndication Agent, and U.S. Bank, N.A., 
      as Documentation Agent. Wachovia Capital Markets, LLC acted as Joint 
      Lead Arranger and Sole Bookrunner and Banc of America Securities LLC 
      acted as Joint Lead Arranger.
    
    
      The new facility matures in five years, and it replaces a $225 million 
      revolving credit facility that was due to expire in 2009.
    
    
      About Pediatrix
    
    
      Pediatrix Medical Group, Inc. is the nation’s 
      leading provider of neonatal, maternal-fetal and pediatric physician 
      subspecialty services and recently expanded to include anesthesiology 
      services. Pediatrix physicians and advanced practitioners are reshaping 
      the delivery of care within the maternal-fetal, neonatal intensive care 
      and pediatric cardiology subspecialties, using evidence-based tools, 
      continuous quality initiatives and clinical research to enhance patient 
      outcomes and provide high-quality, cost-effective care. Founded in 1979, 
      its neonatal physicians provide services at more than 250 neonatal 
      intensive care units, and in many markets they collaborate with 
      affiliated maternal-fetal medicine, pediatric cardiology physician 
      subspecialists and pediatric intensivists to provide a clinical care 
      continuum. Combined, Pediatrix and its affiliated professional 
      corporations employ more than 1,100 physicians in 32 states and Puerto 
      Rico. Pediatrix is also the nation’s largest 
      provider of newborn hearing screens. Additional information is available 
      at www.pediatrix.com.
    
    
      Certain statements and information in this press release may be 
      deemed to be “forward-looking statements” 
      within the meaning of the Federal Private Securities Litigation Reform 
      Act of 1995. Forward-looking statements 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 are 
      forward-looking statements. These statements are often characterized by 
      terminology such as “believe”, 
      “hope”, “may”, 
      “anticipate”, “should”, 
      “intend”, “plan”, 
      “will”, “expect”, 
      “estimate”, “project”, 
      “positioned”, “strategy” 
      and similar expressions, and are based on assumptions and assessments 
      made by Pediatrix’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 Pediatrix 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 Pediatrix’s 
      most recent Annual Report on Form 10-K, including the section entitled “Risk 
      Factors”.