SYDNEY Feb 25 A consortium led by Swedish
private equity firm EQT is in the final stage of talks to buy
Australia's I-MED, the radiology group said on Tuesday, in a
deal that could be worth more than A$400 million ($360.70
Canadian pension fund Caisse de dépôt et placement du Québec
and Singapore's GIC will be investing with EQT in Australia's
biggest radiology provider, the company said.
I-MED, which runs 200 clinics across Australia and provides
radiology services including X-ray and ultrasound, is currently
held by over 20 owners - largely hedge funds - including
Anchorage Capital Group and Fortress Investment Group,
an I-MED spokesman said.
The company reported A$79 million in earnings before
interest, tax, depreciation and amortisation (EBITDA) for full
Listed companies in the same industry are currently trading
at an enterprise value of 11 times EBITDA, according to Thomson
I-MED declined to give details on the deal value, but local
media said the deal could be worth more than A$400 million.
The company expects the deal to be completed by the end of
Anchorage and Fortress, both based in the United States,
were not available for comment. EQT could not be reached for