Novacap-backed CDC acquires Women’s Ultrasound Clinic

Novacap acquired Canada Diagnostic Centres, a Calgary-headquartered medical imaging services company, in 2021.

  • Women’s Ultrasound Clinic is an Ottawa-based women’s ultrasound provider
  • The acquisition marks Canada Diagnostic Centres’ entry into Ontario and broadens the scope of its women’s imaging services

Canada Diagnostic Centres (CDC), a portfolio company of Novacap, has acquired Women’s Ultrasound Clinic, an Ottawa-based women’s ultrasound provider. No financial details of the transaction were disclosed.

The Women’s Ultrasound Clinic, established by Dr. George Tawagi, runs two centers in Ottawa and is home to a group of doctors, sonographers and support staff.

CDC is a Calgary-headquartered medical imaging services company. It has 28 clinics in Alberta, nine clinics in Saskatchewan, and one clinic in British Columbia, servicing about 700,000 patient visits annually under eight different imaging modalities: X-ray, ultrasound, mammography, fluoroscopy, bone mineral density, nuclear medicine, MRI and CT.

The acquisition of Women’s Ultrasound Clinic marks CDC’s entry into Ontario and broadens the scope of its women’s imaging services.

Novacap acquired CDC in 2021.

“The team has shown exceptional vision and execution, and we at Novacap are proud to be a value-adding partner in their journey as they continue to enhance their capabilities in providing exceptional medical imaging services to patients across Canada,” said Marc Paiement, senior partner at Novacap, in a statement.

Novacap is a mid-market private equity firm based in Montreal. With more than C$8 billion of assets managed, it has invested in over 100 platform companies and completed over 150 add-on acquisitions.