Permira buys Australian radiology firm I-Med

Global investment firm Permira will buy Australian radiology company I-Med Radiology Network, according to a story by Reuters.

Permira announced the purchase on Sunday morning but did not disclose the price. Current I-Med Chairman Paul McClintock, CEO Steven Rubic, Chief Financial Officer Clare Battellino, and their team will continue in their roles, according to a statement.

The announcement to sell I-Med comes less than two months after owner EQT Holdings previously tried to sell the radiology firm. EQT acquired I-Med in 2014 and launched the sale in a process led by Morgan Stanley early last year. It canceled a share market flotation in 2015, citing volatility in global markets at the time, according to Reuters.

I-Med has more than 200 clinics and performs 4 million patient procedures every year. The purchase is Permira's first investment in Australia and the first healthcare investment in the Asia-Pacific region.

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