New York, June 13, 2016 -- Moody's Investors Service commented on MEDNAX's, Inc.'s (Ba2 stable) agreement to purchase Cardon Outreach, LLC for $400 million. The planned acquisition, which MEDNAX expects to close by the end of the third quarter, is modestly credit negative as Moody's expects it to slightly increase the company's financial leverage. Cardon is a national provider of revenue cycle management services. The company serves more than 800 hospitals and other healthcare facilities.
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