Hong Kong-based conglomerate Jardine Matheson announced Monday it will acquire Australia's I-MED Radiology Network from private equity firm Permira and other shareholders in a deal valued at A$3.4 billion ($2.4 billion).
The acquisition gives Jardine full ownership of I-MED, one of Australia and New Zealand's largest diagnostic imaging providers, operating 215 clinics and performing over 7 million patient procedures annually.
The deal includes I-MED's minority stake in AI imaging firm Harrison.ai, which develops radiology tools for CT brain and chest scans.
Shares of Singapore-listed Jardine Matheson rose 2% in early trading.
CEO Lincoln Pan said the acquisition aligns with Jardine's strategy of investing in market-leading businesses with long-term growth potential in the Asia-Pacific region.
I-MED has expanded rapidly under Permira's ownership since 2018, supported by growing demand for diagnostic imaging, teleradiology, and AI-enabled healthcare services.
Jardine said the transaction is expected to be earnings-per-share neutral in the first full year after completion and accretive thereafter. The deal is subject to regulatory approvals and is expected to close later in 2026.
