Pediatrix Medical Group, Inc. reported a net revenue of $1.91 billion for the fiscal year ending December 31, 2025, a decrease of 4.9% from $2.01 billion in 2024. The decline was primarily attributed to non-same unit revenue losses from practice dispositions, although same-unit revenue increased by 6.2%, driven by improved collection activities and increased patient acuity in neonatology. The company’s net income for 2025 was $165.4 million, a significant recovery from a net loss of $99.1 million in the previous year. Adjusted EBITDA also rose to $275.6 million, compared to $224.0 million in 2024, reflecting favorable same-unit results.
In terms of operational changes, Pediatrix undertook a strategic decision to exit nearly all of its affiliated office-based practices, except for maternal-fetal medicine, during 2024. This restructuring aimed to streamline operations and reduce costs associated with managing a complex portfolio of services. The company completed this transition by the end of 2024, which contributed to improved financial performance in 2025. Additionally, Pediatrix made several acquisitions in 2025, including a maternal-fetal medicine practice and multiple neonatology and OB hospitalist practices, further expanding its national network of physician services.
Pediatrix's workforce comprised approximately 2,295 affiliated physicians as of December 31, 2025, with a total employee count of around 4,280, including clinical professionals and administrative staff. The company reported a decrease in practice salaries and benefits to $1.34 billion, down 6.9% from the previous year, primarily due to non-same unit activity. General and administrative expenses increased slightly to $240.8 million, reflecting higher collection fees and incentive-based compensation.
Looking ahead, Pediatrix anticipates continued challenges related to reimbursement rates from government-sponsored programs, which accounted for 24% of its net revenue in 2025. The company is also navigating the complexities of the No Surprises Act, which limits out-of-network billing practices and could impact revenue collection. Despite these challenges, Pediatrix remains focused on enhancing its operational efficiencies and expanding its service offerings through strategic acquisitions and partnerships, aiming to solidify its position in the pediatric healthcare market.
About Pediatrix Medical Group, Inc.
Pediatrix Medical Group, Inc. provides physician services in neonatal, maternal-fetal, and pediatric subspecialties. Its network includes neonatologists, obstetricians, pediatric intensivists, and surgeons serving hospitals across the U.S. through hospital-based units and outpatient clinics. The company focuses on improving patient outcomes via clinical research, quality initiatives, and advanced health IT, supporting hospital partners, physicians, and payors in delivering cost-effective, high-quality care.
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