Pediatrix Medical Group Inc
BMV:MD
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Pediatrix Medical Group Inc
BMV:MD
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Shanghai Anoky Group Co Ltd
SZSE:300067
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Pediatrix Medical Group Inc
Pediatrix Medical Group, Inc. engages in the provision of physician services. The company is headquartered in Sunrise, Florida and currently employs 2,800 full-time employees. The Company’s neonatal care provides clinical care to babies born prematurely or with complications within specific units at hospitals, primarily neonatal intensive care units, through its network of affiliated neonatal physician subspecialists, neonatal nurse practitioners and other pediatric clinicians. The company offers maternal-fetal care, which provides inpatient and office-based clinical care to expectant mothers and their unborn babies through its affiliated maternal-fetal medicine subspecialists as well as obstetricians and other clinicians, such as maternal-fetal nurse practitioners and certified nurse mid-wives. The company provides other pediatric subspecialty care services, which includes other pediatric subspecialists, such as, pediatric hospitalists, pediatric surgeons, and pediatric ophthalmologists.
Pediatrix Medical Group, Inc. engages in the provision of physician services. The company is headquartered in Sunrise, Florida and currently employs 2,800 full-time employees. The Company’s neonatal care provides clinical care to babies born prematurely or with complications within specific units at hospitals, primarily neonatal intensive care units, through its network of affiliated neonatal physician subspecialists, neonatal nurse practitioners and other pediatric clinicians. The company offers maternal-fetal care, which provides inpatient and office-based clinical care to expectant mothers and their unborn babies through its affiliated maternal-fetal medicine subspecialists as well as obstetricians and other clinicians, such as maternal-fetal nurse practitioners and certified nurse mid-wives. The company provides other pediatric subspecialty care services, which includes other pediatric subspecialists, such as, pediatric hospitalists, pediatric surgeons, and pediatric ophthalmologists.
Adjusted EBITDA: Q4 adjusted EBITDA was $66 million, in line with raised guidance; full-year 2025 adjusted EBITDA reached $276 million.
2026 Outlook: Management expects 2026 adjusted EBITDA between $280 million and $300 million, about 5% higher at the midpoint versus 2025, with revenue projected to be flat at approximately $1.9 billion.
Revenue Details: Q4 revenue was impacted by $26 million of net non-same-unit activity, but same-unit pricing rose just under 7% and same-unit growth was 4%, offsetting lower overall patient service volumes.
Volume Trends: Patient volumes declined by just under 3% in Q4, which management attributed to tough comparisons with the prior year.
Pricing Strength: Pricing gains were driven by strong revenue cycle collections, higher patient acuity, favorable payer mix, and increased contract administrative fees.
Cost Controls: Practice-level salaries and wages declined year-over-year due to portfolio restructuring, though same-unit variable compensation and salaries rose; G&A expense is expected to decrease modestly in 2026.
Share Buybacks: $64 million spent to repurchase 2.9 million shares in Q4, ending the year with $375 million cash and net debt just over $220 million.
Guidance Assumptions: 2026 guidance assumes flat volume and pricing, with no impact from M&A or ACA subsidy changes factored in.
