Infrastructure investor Infratil is expanding further into medical diagnostics, as it is poised to acquire a majority stake in Auckland Radiology.
Infratil chief executive Jason Boyes Photo: Supplied
The company will purchase at least 50.1 percent of the business for between $30 and $60 million.
Auckland Radiology is the largest diagonistic imaging service in the city, employing 32 radiologists across 15 clinics in the greater Auckland region.
The acquisition would compliment Infratil's investment into the country's largest radiology provider, Pacific Radiology, earlier this year.
"Inorganic growth was a key pillar of the investment thesis for Infratil's acquisition of Pacific Radiology, and we are pleased to see that thesis demonstrated early on in our ownership journey with the addition of an outstanding practice like Auckland Radiology," Infratil chief executive Jason Boyes said.
"Alongside Infratil's investments in Pacific Radiology and Qscan Group, a leading diagnostic imaging business in Australia, we are continuing to build a meaningful Australasian healthcare platform."
Auckland Radiology chair Dr Kate O'Connor said it views Infratil as a financial partner of the highest standard, and Pacific Radiology as a clinical partner of the highest standard.
"We expect the partnership between our three organisations will, over time, translate into enhanced offerings to patients and referrals across New Zealand, including access to a larger pool of sub-specialty radiologists, potential for improved after-hours services, and the introduction of new services".
The sale is subject to the changing of a number of clinic leases and material contracts.