Canadian pension fund manager the Caisse de dépôt et placement du Québec has agreed to partner with European private equity firm EQT Mid Market and Singapore-based GIC in the acquisition of I-Med Radiology Network. The financial details of the transaction were not released. Based in Sydney, Australia, I-Med is a supplier of medical imaging services, operating a network of 200 clinics throughout Australia. EQT said the deal, which is expected to close in April, is intended to continue the company’s growth and support management in leveraging I-Med’s platform, potentially in Asia.
La Caisse de dépôt et placement du Québec participates in the acquisition of Australia-based I-Med
MONTREAL, March 24, 2014 /CNW Telbec/ – La Caisse de dépôt et placement du Québec announced today an investment agreement with EQT Mid Market and GIC to acquire the Australia-based company I-Med.
I-Med is one of the world’s leading suppliers of diagnostic imaging services, operating a network of 200 clinics in Australia’s major metropolitan areas and rural centres. The 300 radiologists and other specialists in I-Med’s network treat some 4 million patients each year.
“This acquisition alongside quality partners such as EQT Mid Market and GIC fits in perfectly with our strategy to invest in growth markets,” said Normand Provost, Executive Vice-President, Private Equity, at La Caisse. “I-Med brings to the table a solid track record and business plan, with good prospects for the future and opportunities for expansion.”
This adds to the investments La Caisse has completed over the last few years in the Australian market, most notably in the Port of Brisbane and in seven infrastructure projects in partnership with Plenary Group.
ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2013, it held $200 billion in net assets. As one of Canada’s leading institutional fund managers, La Caisse invests in major financial markets, private equity, infrastructure and real estate, globally. For more information: www.lacaisse.com.
SOURCE Caisse de dépôt et placement du Québec
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