Infratil and Morrison & Co Growth Infrastructure Fund (‘MGIF’) have today completed the acquisition of a majority investment in Qscan Group Holdings Pty Ltd (‘Qscan’).
Infratil has acquired 56.2% for a total cash equity consideration of A$289.6 million and MGIF has acquired 14.1% for a total cash equity consideration of A$72.4 million.
Existing doctors and management will retain ownership of 29.7%.
The Qscan investment will be managed by Morrison & Co on behalf of Infratil and MGIF.
Qscan is one of Australia’s leading national diagnostic imaging businesses. It runs a portfolio of over 70 clinics across the country, including a network of 10 clinics offering PET (oncology) services.
Paul Newfield, Head of Australia and NZ for Morrison & Co, said, “We’re really excited about the opportunity to enter this new sector, on behalf of both Infratil and MGIF, and to work with an entrepreneurial group of doctors, with strong growth ambitions and a great footprint from which to grow.”