Listed Australasian infrastructure manager Infratil and its partner, Pacific Radiology, have formed a national diagnostic imaging business with Auckland Radiology in New Zealand.
Auckland Radiology is already the largest private radiology provider in Auckland, operating 15 clinics in the greater Auckland area.
Infratil will own at least 50.1% of the enlarged radiology business as it contributes between NZ$30m and NZ$60m (€18m and €36m) to the new partnership, with the balance held by Pacific Radiology and Auckland Radiology doctors and management.
With this partnership, Infratil which acquired up to 60% of Pacific Radiology in April this year, has moved another step towards building an Australasian healthcare platform
Infratil CEO, Jason Boyes, said: “Inorganic growth was a key pillar of the investment thesis for Infratil’s acquisition of Pacific Radiology, and we are pleased to see that thesis demonstrated early on in our ownership journey, with the addition of an outstanding practice like Auckland Radiology.
“Alongside Infratil’s investments in Pacific Radiology and with Qscan Group, a leading diagnostic imaging business in Australia, we are continuing to build a meaningful Australasian healthcare platform.”
Kate O’Connor, chairperson of Auckland Radiology, said: “We expect the partnership between our three organisations will, over time, translate into enhanced offerings to patients and referrers across New Zealand.”
This would include access to a larger pool of sub-speciality radiologists, potential for improved after-hours services and the introduction of new services, she said.
Peter Coman, chairperson of Pacific Radiology, spoke of the “strong cultural and clinical fit” of the diagnotic businesses.
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