A Medical Device Daily
Emergency Medical Services (EMSC; Greenwood Village, Colorado) reported that its EmCare subsidiary has acquired Templeton Readings (Baltimore, Maryland), a provider of final reads and teleradiology services, the transaction completed Friday. Financial terms were not disclosed.
EmCare said it anticipates that the acquisition will contribute roughly $20 million in new annual revenue.
Philip Templeton, MD, founder and president of Templeton, will continue in his role as president, and he joins EmCare as VP, strategy and development of RadStaffing Management Solutions, an EmCare subsidiary.
"This union with EmCare will further enhance opportunities for both entities," Templeton said. "I ... look forward to working with them to enhance teleradiology service offerings to hospitals nationwide."
In other dealmaking activity: Pediatrix Medical Group (Fort Lauderdale, Florida) reported completing the acquisition of Akron Neonatology (Akron, Ohio), a physician group practice providing roughly 25,000 annual patient days of care at hospital-based neonatal intensive care units (NICU) throughout the Akron metropolitan area.
Akron Neonatology consists of eight physicians who staff three NICUs, including Akron Children's Hospital, a Level III NICU that serves as the neonatal referral center for hospitals throughout northeast Ohio, Akron General Medical Center and Akron City Hospital.
William Considine, CEO of Akron Children's Hospital, said, "Together, Akron Children's and Pediatrix will work to continuously enhance the quality of care delivered to newborns in Northeast Ohio."
The group said it expects that as part of Pediatrix's national group practice it will expand its ongoing collaborative model.
"We're looking forward to participating as part of a much larger neonatal community to make clinical, operational and organizational improvements in the delivery of neonatal services," said Anand Kantak, MD, who was president of Akron Neonatology and will serve as Pediatrix's medical director in Akron. "We hope to be able to work with other neonatologists within Pediatrix's network to identify and to meld best practices to improve on our evidence-based care model for our patients."
Pediatrix paid an undisclosed amount of cash for Akron Neonatology, and the practice is expected to be immediately accretive to the company's earnings.