mynth
← DATABASE
12/2020

MEDNAX RADIOLOGY SOLUTIONS acquired by RADIOLOGY PARTNERS

UNITED STATES Health Providers / Outpatient Care / Radiology EV 500M - 1.5b EUR

Context

Radiology Partners has completed the acquisition of MEDNAX Radiology Solutions, bringing together two major players in the US radiology market to form a network of over 2,400 radiologists. This strategic move aims to enhance the combined entity's clinical capabilities, expand geographic coverage, and increase access to subspecialty expertise for partner healthcare institutions. The merger is also expected to facilitate the development of large-scale clinical programs and bolster investments in imaging technologies, digital solutions, and tools designed to improve the quality and efficiency of radiology services. Both organizations share a common goal of driving innovation in medical imaging and strengthening the role of radiology in patient care pathways. For Radiology Partners, this acquisition is part of a growth strategy focused on building a national platform to address the growing needs of healthcare systems for medical image interpretation. The integration of MEDNAX Radiology Solutions' teams is expected to leverage resources, broaden available expertise, and support the development of new clinical service models across the United States.

MEDNAX RADIOLOGY SOLUTIONS, which reported an EBITDA margin of LOGIN in 2020, 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 (14.8x).

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.

-> Deep-dive in Healthcare & Pharma market trends

Target

MEDNAX Radiology Solutions is a leading US provider of specialized medical services. The business comprises a vast network of radiologists and medical imaging professionals serving hospitals, imaging centers, and other healthcare facilities across the United States. The division offers a comprehensive range of services spanning the full spectrum of diagnostic and interventional radiology, including image interpretation, teleradiology services, and subspecialty expertise. Its organizational structure enables seamless coverage of medical imaging needs while maintaining high clinical quality standards. MEDNAX Radiology Solutions also leverages the expertise of its parent company in managing specialized medical networks. The business relies on standardized clinical protocols, ongoing quality improvement initiatives, and technological tools designed to enhance the operational performance of radiology services. With its national network of practitioners and expertise in multiple imaging specialties, the division holds a significant position in the US radiology market. Its services play a critical role in providing essential diagnostic, therapeutic, and clinical decision-making support to numerous healthcare facilities.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2020
LOGIN
LOGIN
LOGIN
2019
LOGIN
LOGIN
LOGIN

Similar deals in Healthcare & Pharma

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
03/2021TRITON PARTNERSBERGMAN CLINICSNETHERLANDSHealth Providers

Triton completed an investment in Bergman Clinics alongside existing shareholders NPM Capital and the Malenstein family, who both retained minority positions in the business. The transaction followed a competitive sale process mandated to JP Morgan and Axeco Corporate Finance, which attracted interest from TowerBrook Capital Partners, Cinven, Bain Capital, and BC Partners before Triton emerged as the winning bidder

02/2021SILVER LAKE / NESTLEIVC EVIDENSIAUNITED KINGDOMHealth Providers

Silver Lake and Nestle led a EUR3.5 billion capital investment in IVC Evidensia, significantly increasing the group's valuation. The deal allowed EQT VII to partially exit its position, while EQT IX reinvested to remain the majority shareholder

12/2020MEDIAN KLINIKENPRIORY GROUPUNITED KINGDOMHealth Providers

MEDIAN Kliniken, a Waterland Private Equity portfolio company, agreed to acquire 100% of Priory Group from US-based Acadia Healthcare. Following closing, Waterland intends to combine Priory with MEDIAN to create a leading European rehabilitation and mental health services provider, operating 570 facilities and treating approximately 260,000 patients annually across the UK and Germany

12/2020ANTIN INFRASTRUCTUREHIPPOCRATES (LAF - LA FARMACIA)ITALYHealth Providers

Antin Infrastructure Partners acquired a majority stake (approximately 80%) in Hippocrates Holding. The co-founders reinvested to retain the remaining 20% and maintained their roles as co-CEOs. The original investors (including DVR Capital and Italian family offices such as the Notarbartolo and Marzotto families) sold their shares in this transaction

12/2020FRESENIUSEUGIN GROUPSPAINHealth Providers

Fresenius Helios, the hospital and healthcare services division of Fresenius SE & Co. KGaA, acquired Eugin Group from NMC Health, a UAE-based listed healthcare group, through a dual acquisition structure targeting both the global ex-US operations (via Luarmia S.L...

11/2020L CATTERTONALLIANCE ANIMAL HEALTHUNITED STATESHealth Providers

L Catterton acquired a majority stake in Alliance Animal Health at a valuation up to $800M. The deal reflects the high demand for recession-resistant veterinary services. Under LightBay Capital's ownership (since June 2019), Alliance grew its EBITDA fivefold to reach $39M (pro forma adjusted)

11/2020ARDIANINOVIE GROUPFRANCEHealth Providers

Ardian led a consortium to acquire a minority stake (approx. 40% of financial rights) in Inovie. Due to French law (SEL), clinical biologists must retain the majority of voting rights and capital. The deal was designed to solve a "generational transition" problem, allowing ~130 older biologists to retire and cash out their shares while enabling younger biologists to buy in at normalized salary levels

11/2020DWS GROUPMEDIPASSITALYHealth Providers

DWS Alternatives Global Limited has acquired 100% of Medipass srl, a leading provider of cancer care and advanced diagnostic imaging services in Italy and the United Kingdom.

11/2020ERGON CAPITAL PARTNERSVIDACURAGERMANYHealth Providers

Ergon Capital, acting through its acquisition vehicle SCUR-Alpha 1227 GmbH, acquired 100% of VidaCura's inpatient and ambulatory nursing care operations following clearance from the German Federal Cartel Office (Bundeskartellamt) on November 26, 2020

11/2020MEDICA GROUPGLOBAL DIAGNOSTICSIRELANDHealth Providers

Global Diagnostics Ireland, which operates around 50 clinical centers across Ireland, has been acquired by Medica Group. For Medica, this acquisition represents a diversification of its customer base and geographic activities, as well as entry into a new market: ophthalmology and retinopathy screening

REFERENCES

Valuation range: EV 500M - 1.5b EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MEDNAX RADIOLOGY SOLUTIONS by RADIOLOGY PARTNERS 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).

Press release: view release

Acquirer: radiology partners