Persistence Capital Partners (PCP), a healthcare-focused private equity firm, has sold the Ontario-based clinics and other assets of its portfolio company Medvue Medical Imaging Inc., a Canadian provider of diagnostic imaging services. Acquired by PCP in 2008, Medvue’s Ontario assets were sold in a series of transactions completed in the first quarter of 2013. The buyers included regional operators KMH Labs, True North Imaging, Blue Water Imaging and Annex Medical Imaging. Medvue will continue to operate its Québec clinics.
PCP Announces Sale of Medvue’s Ontario Medical Imaging Assets
April 4th, 2013 – Persistence Capital Partners (“PCP”), a private equity fund exclusively focused on high-growth opportunities in healthcare, is pleased to announce the sale of all the Ontario regional assets of its portfolio company Medvue Medical Imaging (“Medvue”), a leading Canadian provider of medical imaging services in Ontario and Quebec. The Ontario assets were sold in a series of transactions, completed in Q1, 2013, to 5 separate Ontario-based medical imaging providers.
Acquired by PCP in 2008, Medvue’s Ontario business included 10 clinics providing publicly funded X-Ray, Mammography, Ultrasound, Nuclear Medicine and Bone Mineral Densitometry imaging procedures via OHIP, Ontario’s public payor system. PCP sold these assets in a series of independent transactions to leading regional medical imaging operators in Ontario, including KMH Labs, True North Imaging, Blue Water Imaging and Annex Medical Imaging. Medvue will continue to operate its Quebec clinics, providing MRI, CT, Ultrasound and X-Ray procedures.
Commenting on the transaction, Lloyd M. Segal, Managing Partner at PCP, said, “Medvue Ontario represented a superb investment for PCP. Our team of professionals has set the standard for high quality medical imaging in Ontario and delivered excellent returns for PCP’s Limited Partners. We wish them continued success in their new associations with a set of great regional operators.”
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market.
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