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 LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Healthcare & Pharma sector (13.3x).

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