mynth
← DATABASE
02/2022100%

Aleris - Radiology acquired by Meine Radiologie

SWEDEN Health Providers / Outpatient Care / Radiology EV €300–700M

Context

The divestment of Aleris' radiology arm to Meine Radiologie Holding (backed by EQT Infrastructure) marks a significant consolidation in the Nordic diagnostic imaging market. This transaction was executed in tandem with the sale of Aleris' primary care and rehab units to Praktikertjänst, as part of a broader strategic shift. The rationale for Aleris, under Triton's ownership, is to exit non-core segments to focus exclusively on becoming a specialized healthcare provider in Scandinavia. For the acquirer, the deal provides a major entry point into the Norwegian and Swedish markets, significantly expanding its existing German-focused radiology platform. The integration of 36 diagnostic units allows for significant scale advantages in procurement, technological investment, and standardized medical reporting. This move is consistent with the trend of private equity-backed platforms seeking to create pan-European leaders in capital-intensive medical sub-sectors like radiology.

Aleris - Radiology, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Healthcare & Pharma sector (16.1x in 2022).

-> Deep-dive in Healthcare & Pharma market trends

Target

The radiology division of Aleris provides a comprehensive range of diagnostic imaging services through a network of 36 units across Scandinavia, specifically 14 locations in Norway and 22 in Sweden. The business model centers on performing over 1 million radiology exams annually, utilizing various modalities such as MRI, CT, and X-ray. It serves a diverse patient base, including those within the public healthcare system, insurance-covered individuals, and private-pay patients. By maintaining a large-scale regional footprint and specialized medical expertise, the division acts as a critical infrastructure partner for diagnostic services in the Nordic region. The operation is designed to deliver high-quality diagnostic accuracy and efficient patient throughput, supporting medical practitioners with essential imaging data for treatment planning and disease management.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
[members only]
€10–30M
[members only]
2022
[members only]
€10–30M
[members only]

Other operations with Meine Radiologie

Other operations with Meine Radiologie
DateAcquirerTargetCountrySector
07/2021EQT PARTNERSMEINE RADIOLOGIEGERMANYRadiology

Similar deals in Health Providers

Similar deals in Health Providers
DateAcquirerTargetCountrySector
06/2022EURAZEOSEVETYSFRANCEVet Clinics
04/2022GROUPE BRUXELLES LAMBERTAFFIDEANETHERLANDSRadiology
02/2022PARTNERS GROUPFOREFRONT DERMATOLOGYUNITED STATESOutpatient Care
01/2022WREN HOUSEVOYAGE CAREUNITED KINGDOMNursing Homes
12/2021VIVALTO PARTNERS / IK PARTNERS / MACSF / ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENTVIVALTO SANTÉFRANCEClinics / Hospitals
12/2021RAMSAY HEALTH CAREELYSIUM HEALTHCAREUNITED KINGDOMClinics / Hospitals
11/2021CERBA HEALTHCARELABEXAFRANCELabs (Biology)
10/2021IVC EVIDENSIAVETONEFRANCEVet Clinics
10/2021THE CRANEMERE GROUPOUTPATIENT IMAGING AFFILIATESUNITED STATESRadiology
10/2021ARES / BPIFRANCEPOINT VISIONFRANCEOphthalmology

REFERENCES

Valuation range: EV €300–700M

EBITDA range: €10–30M

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Aleris - Radiology by Meine Radiologie are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: aleris - radiology

FAQ

What transaction does this page cover?

This page covers Meine Radiologie’s acquisition of 100% of Aleris - Radiology, a Swedish company specialised in Outpatient Care, in 2022.

How was the acquisition of Aleris - Radiology by Meine Radiologie valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band and its EV/EBITDA multiple within the 10x - 18x range. Exact figures are available to members.

What was Aleris - Radiology’s EBITDA at the time of the deal?

At the time of the transaction, Aleris - Radiology’s EBITDA was estimated within the €10–30M bracket (FY 2023). Detailed financial figures are available to members.

How does the valuation of Aleris - Radiology compare to benchmarks in the Healthcare & Pharma sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Healthcare & Pharma sector (16.1x in 2022).

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.