Infratil has today announced that it has executed a conditional agreement to acquire a majority investment in Pacific Radiology Group Limited (“Pacific Radiology”).
Infratil will acquire up to 60% of Pacific Radiology, a comprehensive diagnostic imaging business in New Zealand, from existing Doctor shareholders, for a total consideration of up to NZ$350 million.
Pacific Radiology is the largest private diagnostic imaging service provider in New Zealand, operating 46 clinics and employing 90 radiologists and 650 employees. It is around twice the size of its nearest peer, with approximately 20% of New Zealand’s private diagnostic imaging clinics and radiologists.
Jason Boyes, Infratil CEO, said, “Diagnostic imaging is an essential services industry, offering a combination of defensive characteristics and structural long-term growth. Pacific Radiology is New Zealand’s largest private provider of diagnostic imaging and has a proven track record for delivering long-term growth, both organically and via acquisition”.
For more information, see: https://infratil.com/for-investors/announcements/2021/agreement-to-acquire-stake-in-pacific-radiology/