At what enterprise value was I-MED RADIOLOGY NETWORK acquired in 2026?

During the acquisition of I-MED RADIOLOGY NETWORK by JARDINE MATHESON in 2026, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b AUD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Healthcare & Pharma industry currently tracks an average EBITDA multiple of 14.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of I-MED RADIOLOGY NETWORK when it was acquired by JARDINE MATHESON?

The estimated EV/EBITDA multiple for I-MED RADIOLOGY NETWORK is in the range of 10x - 18x. For comparison, the Healthcare & Pharma sector currently shows an average EBITDA multiple of 14.4x. Join our community for free to access full valuation data and industry trends.

When was I-MED RADIOLOGY NETWORK acquired by JARDINE MATHESON?

I-MED RADIOLOGY NETWORK was acquired by JARDINE MATHESON in 2026.

What was the revenue of I-MED RADIOLOGY NETWORK at the time of the deal?

The revenue of I-MED RADIOLOGY NETWORK at the time of the deal is estimated to be in the range of 1b - 3b AUD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of I-MED RADIOLOGY NETWORK during the acquisition?

I-MED RADIOLOGY NETWORK's EBITDA is estimated to be in the range of 250M - 500M AUD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the I-MED RADIOLOGY NETWORK acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the I-MED RADIOLOGY NETWORK deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.permira.com/news-and-insights/announcements/permira-agrees-sale-of-i-med-radiology-network-to-jardine-matheson

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Home Database Healthcare & PharmaI-MED RADIOLOGY NETWORK

05/2026

I-MED RADIOLOGY NETWORK acquired by JARDINE MATHESON

AUSTRALIA Health Providers / Outpatient Care / Radiology EV 3b - 100b AUD

Context

The full realization of the investment by the Permira Funds via a 100% equity sale to Jardine Matheson constitutes a total platform exit executed in May 2026. This divestment concludes an active period of liquidity distributions for the sponsor following multiple high-profile exits across its global portfolio earlier in the year. The transaction marks the transition of the asset from an aggressive private equity build-up phase to a long-term institutional holding structure. Strategic value realization follows a comprehensive digital transformation that embedded machine learning tools into the core radiology workflow, expanding the company's geographical reach into international markets. Final completion of the acquisition remains subject to customary regulatory approvals and foreign investment clearances, with closing anticipated later in 2026.

I-MED RADIOLOGY NETWORK, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (14.4x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

I-MED Radiology Network, based in Australia, operates as a provider of diagnostic imaging services used in clinical pathways and acute hospital care. The system deploys a comprehensive network of +200 clinics utilizing magnetic resonance imaging, computed tomography, and nuclear medicine modalities to process over seven million medical procedures annually. Operational execution combines physical footprint scaling with a proprietary teleradiology pipeline that aggregates and routes complex scans to remote clinical specialists. Revenue generation is driven by fee-for-service medical billing tied directly to clinical practitioner referrals. This volume momentum is sustained by long-term demographic tailwinds and the increasing reliance on early preventive diagnostics. The deep integration of the platform's digital interface into the daily workflows of referring physicians creates high systemic switching costs. Furthermore, high capital requirements for advanced modality hardware combined with stringent medical licensing regulations prevent localized competitive replication. In 2018, I-MED performed over 4 million patient procedures annually with a staff of more than 3,500, including 300+ radiologists.

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Other operations with I-MED RADIOLOGY NETWORK

Date	Acquirer	Target	Country	Sector	Deal Context
01/2018	PERMIRA	I-MED RADIOLOGY NETWORK	AUSTRALIA	Health Providers	Permira acquired I-MED from EQT Mid Market and its co-investors (GIC and CDPQ) in a competitive auction process. The transaction was structured as a majority buyout, with the existing management team, led by CEO Steven Rubic, rolling over equity and remaining at the helm. Under EQT's previous four-year ownership, I-MED had significantly expanded its footprint through hospital contracts and bolt-on acquisitions. Permira's entry was designed to drive the next phase of growth by further consolidating the fragmented Australian radiology market, investing in advanced imaging technologies, and exploring potential international expansion (including teleradiology).
03/2014	EQT PARTNERS	I-MED RADIOLOGY NETWORK	AUSTRALIA	Health Providers	The EQT Mid Market fund, alongside institutional co-investors CDPQ and GIC, acquired a majority stake in I-MED Radiology Network. The deal followed a complex period for I-MED, which had recently refinanced its debt after being controlled by a syndicate of over 40 lenders (led by Ares and Anchorage) following the global financial crisis. EQT's entry was strategically aimed at stabilizing the capital structure and pivoting towards aggressive growth. The investment thesis centered on the advanced nature of the Australian imaging market and the opportunity to leverage EQT's industrial network to improve operational efficiency, win hospital contracts, and pursue add-on acquisitions. The acquisition successfully transitioned the company from lender control back to professional private equity ownership, setting the stage for its eventual billion-dollar exit four years later.

REFERENCES

Valuation range: EV 3b - 100b AUD

Revenue range: 1b - 3b AUD

EBITDA range: 250M - 500M AUD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of I-MED RADIOLOGY NETWORK by JARDINE MATHESON are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: jardine matheson