Swiss Life Asset Managers (SLAM) and Vesper Infrastructure Partners have agreed to acquire RAD-x, a diagnostic imaging and social infrastructure platform with 23 sites across Germany and Switzerland, from Gilde Healthcare.
Financial details were not disclosed.
The investment will enable RAD-x to expand its geographic reach while developing and enhancing the product offering, according to SLAM.
A SLAM consortium representing their infrastructure funds struck the deal alongside the Vesper next generation infrastructure fund I.
Founded in 2016 and headquartered in Mannheim, Germany, RAD-x has been identified as a growing business. Diagnostic imaging benefits from an accelerated demographic shift linked to a continuously aging population in Europe.
SLAM research also suggests that the growing focus on preventive care will demand increasingly efficient early-stage identification and diagnosis of diseases.
The German diagnostic imaging market is highly fragmented, accounting by itself already for over 1,000 practices. An estimated 25% of all radiologists in Germany are older than 60 years, boosting the demand for succession solutions which will support further industry consolidation and growth potential.
Gianfranco Saladino, head value-add infrastructure at SlAM, said: 'We continue to see powerful sector tailwinds within the diagnostics space, driven by aging population and an increasing importance of preventive diagnostics.
'Not only will increasing diagnostics improve the choice and efficacy of treatments, but it will also reduce overall healthcare system costs. We are delighted to back RAD-x and its management team to accelerate the company’s expansion.'
Livio Fenati, managing partner at Vesper Infrastructure Partners, said: 'High quality and accessible diagnostic imaging services lie at the heart of one of Vesper’s key investment themes, namely "Sustainable, Circular and Healthy Living".
'By delivering more sophisticated imaging technologies, leveraging on teleradiology services and exploiting the transformational impacts of AI on productivity and accuracy, RAD-x is actively supporting the growing need for advanced diagnostics and treatments of EU aging population.'
Arthur Vogt and Fabian Gross, co-CEOs at RAD-x, said: 'We are excited to welcome Swiss Life Asset Managers and Vesper Next Generation Infrastructure Fund I, two likeminded investors, who share the same vision of high quality and accessible diagnostic care for our patients.
'The exceptional experience of our teams coupled with the industrial and financial expertise of our new investors and partners will open up new horizons for the continued successful development of RAD-x and a rewarding future for our employees.'
