RADIOLOGIE PARIS OUEST acquired by GROUPE IMAGERIE CARDINET
Context
Groupe Imagerie Cardinet acquired 100% of Radiologie Paris Ouest from its previous majority shareholder, Azulis Capital, which had held a stake since 2019. The transaction was financed with the support of Andera Acto (Andera Partners' sponsorless/mezzanine arm), which had already invested in Cardinet in 2023. A critical feature of the deal is the significant reinvestment by RPO's 20 radiologist-associates, who rolled over more than 50% of their proceeds into the combined holding company. This merger creates a major regional champion in the Ile-de-France area, with a combined pool of over 60 partner-physicians and a dense network of centers across Paris and its western and eastern suburbs.
RADIOLOGIE PARIS OUEST, which reported an EBITDA margin of in 2024, 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 (15.6x).
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Target
Radiologie Paris Ouest (RPO) is a prominent medical imaging group operating in the western suburbs of Paris (Hauts-de-Seine). It consists of approximately 15 imaging centers and a team of 20 liberal radiologists. The group is a pure-play diagnostic imaging provider offering general and specialized radiology services (MRI, CT, Ultrasound).
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REFERENCES
Revenue range: 10M - 30M EUR
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