M&A Deal Summary

Bupa Acquires I-Med Radiology Network

On October 3, 2007, Bupa acquired healthcare services company I-Med Radiology Network from CVC Capital Partners for 1.2B AUD

Acquisition Highlights
  • This is Bupa’s 1st transaction in the Healthcare Services sector.
  • This is Bupa’s largest (disclosed) transaction.
  • This is Bupa’s 1st transaction in Australia.
Investment Fate
  • I-Med Radiology Network was divested to a consortium of buyers in 2012.
  • I-Med Radiology Network was sold to a consortium of financial buyers in 2014.
  • I-Med Radiology Network was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2007-10-03
Target I-Med Radiology Network
Sector Healthcare Services
Buyer(s) Bupa
Sellers(s) CVC Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.2B AUD

Target

I-Med Radiology Network

Sydney, Australia
I-Med Radiology Network is a diagnostic imaging provider. It offers comprehensive and high-quality services including X-ray, PET, CT, MRI, Nuclear Medicine, Ultrasound, Mammography and Interventional Procedures. Across Australia, I-MED operates 204 clinics covering all major metropolitan areas and significant parts of rural Australia. Each year almost 5 million patient procedures are performed by I-MED’s more than 300 radiologists, 50 nuclear medicine physicians, and 3,500 staff. I-Med Radiology Network was founded in 2000 and is based in Sydney, New South Wales.

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Buyer(S) 1

Buyer

Bupa

London, United Kingdom

Category Company
Founded 1947
Sector Healthcare Services
Employees84,000
DESCRIPTION

Bupa is a global health and care company serving 32 million customers in 190 countries. Company purpose is to help people live longer, healthier, happier lives. With no shareholders, we reinvest our profits in more and better healthcare for customers. Founded in 1947 in the UK,now employ 84,000 people, primarily in the UK, Australia, Spain, Poland, New Zealand and Chile, as well as Saudi Arabia, Hong Kong, India, Thailand and the US.


DEAL STATS #
Overall 2 of 7
Sector: Healthcare Services M&A 1 of 5
Type: Add-on Acquisition M&A Deals 2 of 6
Country: Australia M&A 1 of 1
Year: 2007 M&A 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Spire Healthcare

London, United Kingdom

Spire Healthcare is a provider of private healthcare, with 37 private hospitals throughout the UK. The company is built on a proud heritage of over 25 years experience of running successful private hospitals. Spire Healthcare is committed to the highest quality of patient care and has earned a reputation as a leader in its field. We were the first private hospital provider to publish outcomes data on our website and we have received numerous awards for our clinical quality, financial performance and leadership, as well as our environmental policy.

Sell €2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-01 BUPA Health Assurance

United Kingdom

BUPA Health Assurance Ltd. is a provider of health and care to over 29 million customers in more than 190 countries and brings local expertise and service excellence in healthcare and insurance.

Sell $1.4B

Seller(S) 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 65 of 181
Sector: Healthcare Services M&A 2 of 7
Type: Add-on Acquisition M&A Deals 25 of 69
Country: Australia M&A 6 of 8
Year: 2007 M&A 8 of 9
Size (of disclosed) 32 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Dutton Forshaw Motor Co.

Manchester, United Kingdom

Dutton Forshaw serves as a large dealer group offering new and used vehicles from major manufacturers. The company offers to source dealers by franchise or location.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-22 Zhuhai Zhongfu

Zhuhai, China

Zhuhai Zhongfu is a beverage packaging company in China. Zhuhai Zhongfu was established in 1982 as the first PET bottle supplier to Coca Cola in China. It is now the largest PET beverage packaging manufacturer in China with over 80 factories located in 30 cities across China. It is the number one supplier to Coca Cola and number two supplier to Pepsi in China.

Buy -