HSF helps sell Australia’s largest radiology network

Herbert Smith Freehills (HSF) has confirmed that it was the legal adviser of private equity firm EQT on the sale of Australia’s largest radiology network.

I-MED Radiology Network is being acquired by private equity firm Permira. The deal is estimated to be worth $1.3bn, according to unnamed Bloomberg sources. Financial details have not been officially disclosed.

EQT acquired I-MED for more than $400m in 2014. Baker McKenzie acted for EQT, HSF represented I-MED, and Ashurst advised I-MED shareholders in that deal. EQT’s co-investors were GIC and Caisse de dépôt et placement du Québec.

HSF tapped various practice groups of the firm for the deal, including M&A, banking and finance, real estate, and health care.

The Anglo-Australian giant’s corporate team was led by partner Mark Currell. Executive counsel Nicole Backhouse, senior associates Jacob Kahwaji and Adam Charles, and solicitors Rebekah Lam and Jill Davis supported Currell.

Partner Hayley Neilson oversaw the deal’s finance aspects, supported by senior associates John Erbacher and Nikki Smythe.

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