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Mednax expects ‘meaningful’ cash flow this year, will pay down debt
By Devika Patel
Knoxville, Tenn., May 20 – Mednax, Inc. expects to generate a good amount of cash flow in the remainder of the year and plans to pay down debt.
“We ended the first quarter at just over 3.5x leverage,” vice president of strategy and investor relations Charles W. Lynch said at the UBS Global Healthcare Conference in New York on Monday.
“We generally talk about being comfortable in the three to mid-threes range.
“For the remainder of the year, we should generate a meaningful amount of cash flow.
“[We want to] pay down debt and maintain our existing leverage profile,” he said.
Mednax is a Fort Lauderdale, Fla.-based provider of physician services.
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