Infratil (ASX:IFT) to splurge $326m on NZ medical imaging business

Company News

by Michael Luu

Infrastructure investment heavyweight Infratil (ASX:IFT) is splurging over $326 million on a majority interest in diagnostic services provider Pacific Radiology.

The Wellington-based investor is targeting a 50.1 to 60 per cent stake in New Zealand’s largest private-owned medical imaging corporation.

The acquisition is subject to counterparty consent for several material agreements.

Pacific Radiology’s portfolio consists 46 clinics under administration and currently has 90 radiology specialists under employment.

Infratil described the takeover as sitting“well with Infratil’s other high performing, high quality assets”.

The $4.6 billion conglomerate of airports, electricity generators, retailers and telecommunication networks, emphasised the transaction will complement a previous investment in Qscan Group.

Shares in Infratil (ASX:IFT) are trading 2.97 per cent higher at $6.59