Dealmakers who missed out on Advent Partners’ $25 million-a-year radiology business, Imaging Associates, need fret no longer. The negotiations with Pacific Equity Partners have fallen flat.
Street Talk understands PEP’s Secure Assets team has packed its bags and checked out of the sale of Imaging Associates Australia, which has 12 clinics in Melbourne, Gippsland and Wagga Wagga and has doubled earnings since Advent’s arrival in 2021. It comes after the buyout firm weighed ASX-listed Integral Diagnostics as a potential target last year amid an internal push to get into the radiology sector.
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