Mallesons has advised Permira on its sale of I-MED Radiology to Jardine Matheson for A$3.4 billion.
Since acquiring I-MED in 2018, Permira has partnered with management and radiologists to drive growth across network expansion, AI transformation and clinical excellence. Today, I-MED is the leading diagnostic imaging and teleradiology business, operating 215 clinics across Australia and New Zealand, and is the third-largest diagnostic imaging business globally with teleradiology services in the United States.
Jardine Matheson, an Asia Pacific-focused investment company, acquired 100 per cent of the shares in I-MED. The sale follows the investigation of a potential initial public offering and listing on the ASX. The Mallesons team was led by Partners Mark McNamara and Anthony Boogert, supported by Special Counsel Jared Nickig, Senior Associate Madeleine Sidgreaves and Solicitor Anna Sumsky.
Commenting on the transaction, Mark McNamara said:
“We were delighted to be able to support Permira and I-MED on this significant healthcare transaction for the region. The transaction was fast paced and required significant coordination and management across multiple jurisdictions. We are grateful for the professionalism and support we received from the teams at Permira and I-MED throughout the transaction process.”
Anthony Boogert added:
“The deal represents one of the largest private equity exits involving an Australian healthcare platform and reflects continued international investor appetite for high-quality healthcare and diagnostic imaging assets.”
Mallesons’ work on the deal reflects its leading M&A and private capital capability and experience in complex cross-border healthcare transactions. It also builds on the firm’s recent private capital work in the healthcare sector, including advising Quadrant Private Equity on its sale of Partnered Health to Bupa and its investment in Carlisle Health.
