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07/2021

BLIKK GROUP acquired by EQT PARTNERS

GERMANY Health Providers / Outpatient Care / Radiology REV 50M - 100M EUR

Context

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.

BLIKK GROUP, which reported an EBITDA margin of in 2020, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).

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Target

Blikk Group is a major German provider of radiological and nuclear medicine services, operating a network of approximately 30 care centers and one hospital. The business model is focused on high-end diagnostic imaging, employing over 150 physicians who treat roughly 1 million patients annually. The company provides a comprehensive technical suite including MRI, CT, PET-CT, mammography, and interventional radiology. Beyond standard diagnostics, it offers specialized medical expertise in sub-fields such as neuroradiology, cardiac imaging, and pediatric radiology. Its operations are concentrated in key German regions, notably North Rhine-Westphalia and Berlin. As a capital-intensive service provider, the company leverages its scale to invest in cutting-edge medical technology and standardized digital workflows, positioning itself as a critical infrastructure partner within the German outpatient healthcare system.

Ent. Value

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Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
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EBITDA
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2020
2019

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04/2021AMERICAN SECURITIESSIMONMED IMAGINGUNITED STATESRadiology
04/2021ICG / MANAGEMENT & PRIVATE INVESTORSDOMUSVIFRANCENursing Homes
03/2021TRITON PARTNERSBERGMAN CLINICSNETHERLANDSClinics / Hospitals

REFERENCES

Revenue range: 50M - 100M EUR

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

Acquirer: eqt partners