MEDNAX, Inc. (NYSE:MD) Q1 2022 Earnings Conference Call April 28, 2022 9:00 AM ET

Company Participants

Charles Lynch - SVP, Finance, Strategy & IR

Mark Ordan - CEO & Director

Marc Richards - EVP & CFO

James Swift - Chief Development Officer

Conference Call Participants

Tao Qiu - Stifel, Nicolaus & Company

A.J. Rice - Crédit Suisse

Nicholas Spiekhout - William Blair & Company

Whit Mayo - SVB Leerink

Kevin Fischbeck - Bank of America Merrill Lynch

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the MEDNAX First Quarter 2022 Earnings Conference Call. [Operator Instructions]

And as a reminder, today's conference call is being recorded. I would now like to turn the conference over to Mr. Charles Lynch. Please go ahead.

Charles Lynch

Thank you, Cynthia. Good morning, everyone, and welcome to our call. I will quickly read our forward-looking statements and turn the call over to Mark. 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 MEDNAX' management in light of their experience and assessment of 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 MEDNAX 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.mednax.com.

With that, I'll turn the call over to our CEO, Mark Ordan.

Mark Ordan

Thanks, Charlie, and good morning, everybody. Also joining me on today's call are Marc Richards, our CFO; and Dr. Jim Swift, our Chief Development Officer.

We are pleased with the results for the quarter. Our bottom line results were in line with our expectations and demonstrate resilience in a challenging health care environment and operating challenges we anticipated and addressed. Volumes continue to rise. Total births at the hospitals where we provide NICU services were up just under 4% on a same-unit basis, and our aggregate patient volumes were up just over 3%, with office-based growth a bit higher than hospital-based growth.