Private equity firm closing in on $344M purchase of global teleradiology outfit
A private equity firm is consulting with Goldman Sachs bankers as it closes in on a $344 million (USD) purchase of global teleradiology firm Everlight, according to a report published Wednesday.
Sydney, Australia-based Pacific Equity Partners has emerged as the frontrunner to buy the imaging group, leaping ahead of other suitors such as KKR (which owns Envision Healthcare). Around since 2006, Everlight Radiology employs a team of more than 200 specialists, reporting on more than 650,000 exams each year, with offices in the U.K., Australia, New Zealand and South Africa.
The seller is Intermediate Capital Group, which is anchored in London and bought Everlight about three years ago, the Australian Financial Review reported. It previously attempted to unload the teleradiology firm through an auction prior to the pandemic, but the effort fell flat, the report noted.
Everlight Radiology operates 15 care hubs across the world with a focus on after hours and emergency care. Along with the aforementioned offices, it also employs home-based radiologists in the United States, Canada and other parts of continental Europe, according to its website. The teleradiology firm logged some $23 million in annual earnings, the publication noted.
Read more from the Financial Review below.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.