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Fly News Breaks for January 3, 2020
MD
Jan 3, 2020 | 06:26 EDT
Citi analyst Ralph Giacobbe downgraded Mednax to Neutral from Buy with a $29 price target. In a research note to investors, Giacobbe says he believes stabilization/turnaround efforts are taking longer to materialize, and come at a hefty cash expense, despite the company excluding "transformational" initiatives from operating earnings. While he sees "merits" to a potential LBO in the low $30s, he sees lower probability of a takeout in the near-term without visibility around balance billing legislation making it difficult to push valuation higher. Giacobbe also acknowledges Starboard's nomination of a majority board slate and possible proxy fight, but he feels structural pressures remain and will likely take time to improve irrespective of management.
News For MD From the Last 2 Days
MD
May 17, 2021 | 08:21 EDT
R1 RCM (RCM) and Mednax (MD) have entered into an agreement that will make R1 the primary provider of enterprise revenue cycle management services for Mednax. The agreement is expected to bolster the overall patient experience and optimize clinical, financial and operational performance for Mednax and its hospital partners. R1's end-to-end revenue cycle model hardwires best practices and processes into its proprietary technology platform while leveraging intelligent automation, advanced data analytics and technical expertise to streamline workflows, improve efficiencies and drive superior outcomes.