Overview
- Jardine Matheson agreed to acquire 100% of I‑MED Radiology Network for an enterprise value of A$3.4 billion from funds advised by Permira and other shareholders, a deal the company announced on Monday that values I‑MED at about US$2.4 billion.
- Jardines will fund the transaction from a mix of cash reserves and debt financing, with no detailed split disclosed by the company.
- I‑MED operates 215 diagnostic imaging clinics across Australia and New Zealand, performs more than seven million procedures a year, and provides teleradiology services to Australia, New Zealand and the United States.
- The deal is priced at about 11.5 times forecast adjusted EBITDA for the year to June 2026 excluding the Harrison.ai stake, and Jardines says the acquisition will be neutral to underlying EPS in the first full year after closing and accretive thereafter.
- The purchase includes I‑MED’s minority interest in Harrison.ai and must clear regulatory approvals before it is expected to close later in 2026, a move that could expand AI‑assisted radiology access for regional patients and give Jardines a platform to scale healthcare services under CEO Lincoln Pan.