One of France’s largest independent imaging groups has inked a partnership with a “leading” private equity firm, the two announced Monday.
Excellence Imagerie is teaming with Antin Infrastructure Partners, which has offices in Paris, London, New York and elsewhere. The imaging group said the private equity firm will serve as a “key long-term partner” alongside its radiologists and current shareholder, UI Investissement.
Excellence Imagerie currently operates four main centers, “making it one of the largest medical imaging networks in France.” The company has about 160 employees including 60 radiologists carrying out 400,000 consultations each year. With the PE investment, the group plans to expand its footprint, adding two new groups to its network—Angers-based GIMA Imagerie Duroc, in Paris.
“…Excellence Imagerie has rapidly established itself as a major player in radiology in France,” Antin Senior Partner Mehdi Azizi said in a Jan. 22 announcement. “We will leverage our expertise in both social infrastructure and in growing companies to support Excellence Imagerie in order to address the increasing need for medical imaging throughout the country.”
The transactions are subject to regulatory approval, including by the relevant local French Departmental Medical Council. Radiologist co-founders Alain Dana and Patrick Toubiana will continue to play a “key role in defining the group’s strategy and operations,” according to the announcement.
The deal mirrors ongoing private equity interest in radiology across the U.S. and elsewhere abroad. PE-supported imaging groups in the states include Premier Radiology Services, LucidHealth, Radiology Partners, Rayus Radiology, Rezolut, US Radiology Specialists, SimonMed, Solis Mammography and Capitol Imaging. Last month, the White House announced plans to scrutinize PE ownership in healthcare amid concerns about “corporate greed.”
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.