G-Square acquires Diagnostic Healthcare

G-Square is investing from its third-generation fund, which closed on €500m in January 2020 and was 15% deployed at the time. The fund invests €30-60m in European companies in the healthcare sector. Other assets in the fund include UK-based Dental Care Group, and healthcare providers Medadom and Medicharme, each based in France.

The asset moved into the second round of its sale process in September, according to Unquote sister publication Mergermarket. The vendors were looking to achieve an EBITDA multiple of 10x, with the business projected to generate £3m EBITDA in the year ending on 31 January 2021.

Company
Founded in 2004, Diagnostic Healthcare provides diagnostic imaging services of MRI, ultrasound, DEXA, CT and x-ray to both NHS and private patients. It runs 90 community sites across England, as well as regional centres at its headquarters in Manchester, as well as in Birmingham and Leeds.

Advisers
Vendor – Cowgills (corporate finance).

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• Topics
• Buyouts
• UK / Ireland
• Healthcare
• healthcare
• G Square Capital
• United Kingdom