Pediatrix Medical Group Inc 2025年度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” inRule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Act). Yes☐No☒ The aggregate market value of shares of Common Stock of the registrant held by non-affiliates of the registrant on June 30, 2025, the last business day ofthe registrant’s most recently completed second fiscal quarter, was $899,915,751 based on a $14.35 closing price per share as reported on the New York StockExchange composite transactions list on such date. The number of shares of Common Stock of the registrant outstanding on February 13, 2026 was 83,001,072. Pediatrix Medical Group, Inc.Annual Report on Form 10-KFor the Year Ended December 31, 2025 INDEX PART I Item 1.Business4Item 1A.Risk Factors26Item 1B.Unresolved Staff Comments50Item 1C.Cybersecurity50Item 2.Properties52Item 3.Legal Proceedings52Item 4.Mine Safety Disclosures52PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities53Item 6.Reserved56Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations57Item 7A.Quantitative and Qualitative Disclosures About Market Risk69Item 8.Financial Statements and Supplementary Data70Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure97Item 9A.Controls and Procedures97Item 9B.Other Information97Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections97PART IIIItem 10.Directors, Executive Officers and Corporate Governance98Item 11.Executive Compensation98Item 12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters98Item 13.Certain Relationships and Related Transactions, and Director Independence98Item 14.Principal Accountant Fees and Services99PART IVItem 15.Exhibits and Financial Statement Schedules100Item 16.Form 10-K Summary105 FORWARD-LOOKING STATEMENTS Certain information included or incorporated by reference in this Form 10-K may be deemed to be “forward-lookingstatements” which may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements(other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe oranticipate will or may occur in the future. These statements are often characterized by terminology such as “believe,” “hope,”“may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similarexpressions, and are based on assumptions and assessments made by our management in light of their experience and theirperception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.Any forward-looking statements in this Form 10-K are made as of the date hereof, and we undertake no duty to update or revise anysuch statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guaranteesof future performance and are subject to risks and uncertainties. Important factors that could cause actual res