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I-MED sale gives Jardines 215-clinic radiology network

Jardine Matheson will acquire 100% of I-MED Radiology Network in a deal valued at A$3.4B, including I-MED’s minority stake in Harrison.ai.

RadiologySignal.com writers

Jardine Matheson Holdings has agreed to acquire 100% of I-MED Radiology Network from Permira-advised funds and other shareholders. The transaction values the diagnostic imaging business at A$3.4B, or US$2.4B, according to Jardines’ announcement.

The deal also includes I-MED’s minority interest in Harrison.ai, which develops radiology AI tools for areas including CT brain and chest scans. Jardines said the core business valuation, excluding Harrison.ai, is about 11.5x forecast adjusted EBITDA for the 12 months ending June 2026.

I-MED operates 215 diagnostic imaging clinics across Australia and New Zealand. The network performs more than 7M patient procedures each year and provides MRI, CT, PET, nuclear medicine, ultrasound, and X-rays, according to Jardines.

The group also provides teleradiology services in Australia, New Zealand, and the U.S. I-MED entered the U.S. market through its 2024 acquisition of StatRad, which it described at the time as the second-largest teleradiology service provider in the country.

Permira acquired I-MED in 2018 and said it worked with the company on network expansion, AI transformation and digital infrastructure, and clinical excellence. During that period, I-MED expanded across Australia, New Zealand, and the U.S., according to Permira.

Over the 5-year period ending June 2025, I-MED delivered compound revenue growth of 11% and adjusted EBITDA growth of 12%, Jardines said. The buyer plans to fund the acquisition through cash on hand and debt.

The transaction remains subject to customary regulatory approvals and conditions. Permira and Jardines said they expect the deal to close later in 2026.

Companies:I-MED Radiology Network, Harrison.ai

StatRaddiagnostic imagingteleradiologyradiology AImergers and acquisitions
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Radiology Signal Staff covers developments across medical imaging, radiology AI, imaging informatics, clinical research, and radiology business. The team monitors primary sources, peer-reviewed studies, company announcements, society updates, and healthcare industry news to deliver concise reporting for imaging professionals.

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