IK Partners’s IK IX Fund has completed its acquisition of Medica Group, a teleradiology and imaging solutions provider in the UK, Ireland and the US. The deal, IK’s fourth platform investment in the UK, was made through Moonlight Bidco, a newly incorporated wholly owned subsidiary of funds advised by IK.
IK Partners’s IK IX Fund has completed its acquisition of Medica Group, a teleradiology and imaging solutions provider in the UK, Ireland and the US. The deal, IK’s fourth platform investment in the UK, was made through Moonlight Bidco, a newly incorporated wholly owned subsidiary of funds advised by IK.
Following shareholder approval on Friday, 9 June 2023, the acquisition became effective on Thursday, 6 July 2023 and Medica has now been de-listed from the London Stock Exchange.
Founded in 2004 and headquartered in Hastings, UK, Medica has over 400 employees globally, and a network of more than 750 radiologists, radiographers and specialist doctors who serve over 200 clients worldwide.
In the UK and Ireland, Medica provides a reporting service (including out-of-hours) for MRI, CT, ultrasound and X-Ray to more than 100 National Health Service (NHS) trusts, the Irish Health Service Executive (HSE) and independent sector organisations. Through its subsidiary in the US, RadMD, Medica provides imaging services for clinical trials within the pharmaceuticals, biotechnology and medical device industries, with particular expertise in oncology.
IK says its focus will be on supporting the group to continue delivering high-quality services to its customers, with a strong emphasis on maintaining high standards of clinical governance and sub-speciality expertise offered by its network of over 750 outstanding radiologists, radiographers and specialist doctors.
IK has a well-established track record of investing in successful companies across the healthcare sector and, to date, has invested in 23 healthcare companies across Europe, deploying approximately €2.1 billion of capital.
