Pediatrix Medical Group, Inc. (NYSE:MD) Q4 2022 Earnings Conference Call February 17, 2023 9:00 AM ET

Company Participants

Charles Lynch – Senior Vice President, Finance and Strategy

Mark Ordan – Executive Chair

Jim Swift – Chief Executive Officer

Marc Richards – Chief Financial Officer

Conference Call Participants

Jack Senft – William Blair

AJ Rice – Credit Suisse

Pito Chickering – Deutsche Bank

Whit Mayo – SVB Securities

Kevin Fischbeck – Bank of America

Rishi Parekh – JPMorgan

Tao Qiu – Stifel

Brian Tanquilut – Jefferies

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer series. Instructions will be given at that time. [Operator Instructions] And as a reminder, this call is being recorded.

I'd now like to turn the call over to our host, Mr. Charles Lynch. Please go ahead, sir.

Charles Lynch

Thank you, operator. Good morning, everyone. I'll quickly read our forward-looking statements, and then we'll get into the call. Certain statements and information during this conference call may be deemed to be forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions and assessments made by Pediatrix' management in light of their experience and assessment of historical risk – historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

Any forward-looking statements made during this call are made as of today, and Pediatrix undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the company's most recent annual report on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, including the sections entitled Risk Factors. In today's remarks by management, we will be discussing non-GAAP financial metrics. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measures can be found in this morning's earnings press release, our quarterly reports on Form 10-Q and our annual report on Form 10-K and on our website at www.pediatrix.com.

With that, I'll turn the call to our Executive Chair, Mark Ordan.

Mark Ordan

Thanks, Charlie, and good morning, everyone. I'm here with Dr. Jim Swift, our Chief Executive Officer; and Marc Richards, our Chief Financial Officer. We announced in December my transition from CEO to Executive Chair; and Dr. Jim Swift's move from COO to CEO. This has been a naturally smooth transition since we had worked so closely on virtually all issues. It also capped a year-long process to sharply reduce executive leadership and other people-related overhead costs, which has also enabled fully qualified and proven leaders to assume larger roles at Pediatrix.