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EQT in final talks to acquire Australia’s I-MED Network

25 Feb 2014

Panasonic HealthcareSwedish private equity firm EQT is nearing a deal to acquire I-MED Network in a deal that values Australia’s largest radiology provider form its hedge fund owners.

EQT is in final stage talks with I-MED, the company said in a statement. It plans to invest in the company alongside Singapore’s sovereign wealth fund GIC and Canadian pension fund Caisse de dépôt et placement du Québec.

I-MED said that the takeover is expected to be completed by the end of June.

The company saw its EBITDA climb to $79m last year from $54m in 2012. It is understood that I-MED’s current market value is around $600m, according to the Australian.

Earlier this month EQT-backed Danish outsourcing firm ISS revealed it plans to raise DKK8bn ($1.47bn) in its IPO on the Copenhagen stock exchange.

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