Leading international law firm Clifford Chance has advised Australian diagnostic imaging provider I-MED Radiology Network (I-MED), which is backed by global private equity firm Permira, on its entry into an agreement to acquire Alfred Medical Imaging from existing shareholders. The acquisition is subject to customary regulatory and third-party consents and is expected to complete later this year.

I-MED is one of Australia’s leading radiology providers, with approximately 240 clinics located in metropolitan and regional communities across Australia. Alfred Medical Imaging provides a comprehensive range of medical imaging procedures in the Sydney metropolitan region, and its acquisition will increase I-MED’s footprint in New South Wales, particularly in Sydney’s inner west.

Partner Mark Currell led a cross practice team for the transaction, with support from counsel Jacob Kahwaji and associate Alice Bradshaw and trainee Melanie Ray. The financing aspects of the transaction were led by Australia Managing Partner Richard Gordon, with support from senior associate Sherry Khalili and trainee Isabella Ledden.

Mark said, “M&A activity in the Australian healthcare sector, and in radiology specifically, has seen an increase in the last 12 months. We congratulate I-MED and Permira on this strategic acquisition and are delighted to have partnered with them on this transaction.”

Clifford Chance continues to advise on market-leading deals in the healthcare sector, including the US$525 million healthcare IT acquisition of Ardian’s portfolio company Dedalus, Pfizer on its agreement to co-develop potential Covid-19 vaccine and Hansoh Pharmaceuticals on its US$1 billion IPO.