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Harbert Australia Private Equity buys 80% Cardioscan stake

7 Dec 2012

Harbert Australia Private Equity has reportedly picked up more than 80 per cent of Melbourne-based cardiac testing company Cardioscan, in a deal that values the business at A$13m ($13.6m).

The company has hospital and pathology clients including Ramsay Health Care and Primary Health Care, according to the Wall Street Journal.

M&A Partners and Clarendon Lawyers advised Cardioscan on the deal, while Middletons and PwC advised Harbert, the report said.

Harbert invests in Australian companies valued at between A$10m and A$100m.

Earlier this year the firm bought a 45 per cent stake in diversified mining and infrastructure group Techdrill Civil & Mining Services, which has strong expertise in mine sites including the Cobar region – one of the highest potential gold and copper regions in Australia.

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