CAPITOL HEALTH LIMITED acquired by INTEGRAL DIAGNOSTICS LIMITED
Context
Integral Diagnostics acquired 100% of Capitol Health via a Scheme of Arrangement. The transaction was approved by the ACCC after initial concerns, creating a highly synergistic group. The merger consolidates the fragmented Australian radiology market and provides the combined "MergeCo" with significant scale to invest in teleradiology (IDXt) and advanced AI diagnostic technologies.
CAPITOL HEALTH LIMITED, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Capitol Health is a leading Australian provider of diagnostic imaging services. It operates a network of 65 clinics across Victoria, South Australia, Tasmania, and Western Australia. The group performs over 1.4 million procedures annually and is a major pure-play radiology provider in the Australian market.
Ent. Value
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EV / EBITDA
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Historical Financials (AUD)
Similar deals in Health Providers
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|---|---|---|---|---|
| 10/2024 | QUALIUM | IMPC (IMAGERIE MEDICALE PARIS CENTRE) | FRANCE | Radiology |
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| 06/2024 | L-GAM / CAPZA / IDIA CAPITAL INVESTISSEMENT | PSV GROUP | FRANCE | Radiology |
| 01/2024 | ARDIAN / BPIFRANCE / MACSF | APRIUM PHARMACIE | FRANCE | Pharmacy |
| 12/2023 | ANDERA PARTNERS | GROUPE IMAGERIE CARDINET | FRANCE | Radiology |
| 12/2023 | ESSLING CAPITAL | X-RAY PHOCEA | FRANCE | Radiology |
| 10/2023 | EQT PARTNERS | VETPARTNERS | AUSTRALIA | Vet Clinics |
| 08/2023 | BAIN CAPITAL | ESTIA HEALTH | AUSTRALIA | Nursing Homes |
| 08/2023 | QUADRIVIO GROUP | THE PRIVATE CLINIC (TPC) | UNITED KINGDOM | Aesthetic & Cosmetic Clinics |
| 07/2023 | MEDIAN KLINIKEN | HESTIA ALLIANCE | SPAIN | Clinics / Hospitals |
REFERENCES
Valuation range: EV 300M - 700M AUD
Revenue range: 150M - 250M AUD
EBITDA range: 25M - 50M AUD
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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.