Jardine Matheson to buy Australia's I-MED at $2.4 billion enterprise value in healthcare push 

By Rajasik Mukherjee and Yantoultra Ngui

May 25 (Reuters) - Jardine Matheson said connected Monday it has agreed to bargain Australian aesculapian imaging supplier ‌I-MED Radiology Network for a full endeavor worth of A$3.4 cardinal ($2.4 billion), ‌adding a large healthcare diagnostics concern to the Hong Kong-based group.

The storied concern group, whose businesses ​span property, retail, and automotive sectors, said it volition bargain a 100% involvement successful I-MED from funds advised by backstage equity steadfast Permira and different shareholders.

It said the woody would beryllium funded done currency reserves and indebtedness financing, without giving ‌a split.

Jardines said successful a ⁠statement that the acquisition includes I-MED's number involvement successful Harrison.ai, which develops radiology AI solutions, and fits with its strategy of ⁠investing for power successful market-leading businesses and expanding into maturation areas.

The woody values I-MED astatine astir 11.5 times forecast adjusted EBITDA for the twelvemonth ending June 2026, ​excluding the ​Harrison.ai stake, Jardines said successful its statement. ​EBITDA stands for net earlier ‌interest, taxes, depreciation and amortisation.

The steadfast said the woody is expected to beryllium neutral to underlying net per stock successful its archetypal afloat twelvemonth aft closing and accretive thereafter.

"I-MED is already a marketplace person successful radiology today, and we expect the concern volition grow further successful I-MED's halfway markets arsenic good arsenic ‌new markets," Jardines' CEO Lincoln Pan, who started ​in his relation successful December, said successful the ​statement.

I-MED operates 215 diagnostic imaging ​clinics successful Australia and New Zealand and performs much than ‌7 cardinal procedures each year, Jardines ​said. It besides provides ​teleradiology, oregon the distant speechmaking of aesculapian scans, successful Australia, New Zealand and the U.S.

The transaction requires regulatory approvals and is expected to adjacent ​later successful 2026, Jardines ‌said.

In January, Jardines completed its buyout of Mandarin Oriental.

($1 = 1.3970 Australian ​dollars)

(Reporting by Rajasik Mukherjee successful Bengaluru and Yantoultra Ngui successful Singapore; ​Editing by Sherry Jacob-Phillips and John Mair)