FORT LAUDERDALE, Fla. – Pediatrix Medical (TASE:) Group, Inc. (NYSE: MD), a provider of physician services, has undergone a significant leadership change as Mark S. Ordan returns to act as Chief Executive Officer, effective immediately.
This move is part of the company’s strategy to enhance clinical standards and bolster hospital partnerships. James D. Swift, M.D., who took on the CEO role in January this year, will support Ordan during the transition.
The company, under the guidance of Ordan and the Board, has launched initiatives to improve its core mission execution, operational efficiency, and profitability. These initiatives include adopting a hybrid revenue cycle management model, optimizing its practice portfolio, selling off primary and urgent care clinics, and restructuring its leadership team.
Guy Sansone, Lead Independent (LON:) Director of Pediatrix, expressed confidence in the company’s future and Ordan’s proven track record of business transformation, especially during challenging periods in the healthcare sector.
Sansone emphasized the need to focus on creating value for shareholders and stakeholders and praised Ordan for his previous leadership during the company’s restructuring that began in 2020.
Ordan, expressing his honor in returning as CEO, highlighted the importance of patient-centered care and the intention to dedicate efforts to strengthen hospital relationships and focus on patient-centric activities.
The company has also provided a positive outlook for the fiscal year 2024, expecting to achieve, if not exceed, the higher end of its projected adjusted EBITDA range of $205 million to $215 million.
Pediatrix will report its fourth quarter and full year 2024 results on February 20, 2025.
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