Jardine Matheson to buy Australian medical firm for $2.4b

The deal included I-MED’s minority stake in Harrison.ai.

Jardine Matheson will acquire I-MED Radiology Network, an Australian diagnostic imaging and teleradiology provider, for a transaction value of US$2.4b (AU$3.4b).

According to a press release, the agreement covers the purchase of 100% of I-MED from funds advised by Permira, which acted through their UK platform.

It also includes I-MED’s minority stake in Harrison.ai, a company focused on developing artificial intelligence solutions for radiology.

I-MED operates 215 clinics across Australia and New Zealand and performs over 7 million patient procedures each year.

The acquisition is expected to be funded through a mix of Jardine Matheson's cash on its balance sheet and debt.