I-MED is one of the world’s leading diagnostic imaging providers. It offers comprehensive and high-quality services including X-ray, PET, CT, MRI, Nuclear Medicine, Ultrasound, Mammography and Interventional Procedures.
I-MED is the leading diagnostic imaging service provider in Australia with 204 clinics and performs almost five million procedures per year.
During EQT Mid Market’s ownership, the company has grown the number of fully owned clinics with more than 30% and the number of radiologist by more than 25%. I-MED has during the last three years further strengthened its market position in Australia and for 2017 generated revenues of almost AUD 700 million. I-MED has a strong and dedicated staff with over 3,500 employees, including more than 300 radiologists who serve over 30,000 referrers in the growing healthcare market in Australia.
EQT Mid Market acquired I-MED in April 2014 with the strategy to support I-MED to become the true market leader in Australia by expanding the business by winning hospital contracts, improving productivity and profitability as well as supporting the company to grow via add-on acquisitions.
Through the strategy supported initiatives, the company’s revenues have increased with 37% and EBITDA with 48% since EQT Mid Market’s investment in 2014. Furthermore, the number of fully owned clinics have increased with 36% and the number of radiologist have increased with 27% during the ownership period.
Key events during EQT's ownership
Implementation of a Margin Improvement Plan consisting of a number of actions within revenue maximization, operating efficiency and overhead management
Strengthening of the management team
Full reorganization of I-MED’s New South Wales business including new general manager and an aggressive organic and non-organic plan
Strong focus on driving synergetic M&A - resulting in acquisitions for more than AUD 130 million across 11 add-ons
Launching a doctor co-investment program to further strengthen the alignment with I-MED’s doctors
Significant investments in new equipment and new technology