The acquisition of Blikk Group by EQT Infrastructure, occurring simultaneously with the buyout of Meine Radiologie Holding from Triton, is a landmark consolidation in the German healthcare services market. This dual-track transaction was designed specifically to merge the two entities into a unified, market-leading radiology chain, later rebranded as Evidia. The strategic rationale is centered on achieving massive industrial scale in a fragmented and capital-intensive sector. By combining Blikk’s 30 locations with Meine Radiologie’s network, EQT creates a platform capable of servicing millions of patients with standardized high-quality care. For the seller, Deutsche Beteiligungs AG (DBAG), the deal marks a successful exit from Fund VII, realizing significant value appreciation above the previous book valuation. The transaction includes a 15% reinvestment from DBAG, signaling continued confidence in the group’s buy-and-build potential. This merger allows the combined entity to optimize physician recruitment, centralize administrative functions, and invest more aggressively in the digital transformation of radiological workflows across Germany.

This transaction is part of the Healthcare & Pharma industry, which currently tracks an average EBITDA multiple of 12.8x since the beginning of 2026, a stable level compared to 2025. This data is based on the contribution of our growing community, composed of M&A and private equity professionals.