Florida-based Pediatrix Medical Group profits fall with birth rate, more poor patients

Experiencing fewer births and more poor patients on Medicaid, Sunrise, FL-based Pediatrix Medical Group's third-quarter profits fell 5.5% to $37.4 million, or 81 cents a share. Acquisitions of neonatal and anesthesia practices in the past year pushed revenue higher, to $267.2 million. Patient volume in neonatal intensive care units, Pediatrix's core business, declined 3.4% in the quarter. CEO Roger Medel said women are "simply having fewer babies."