CBPE Capital (“CBPE”) has acquired Medica Reporting Ltd (“Medica”) from Nuffield Health. Terms of the transaction have not been disclosed.
Medica is the UK’s leading provider of high quality teleradiology reporting services and operates the country’s largest remote radiology reporting network. CBPE is backing current management’s expansion plans to further build on Medica’s market-leading position, providing an increasingly enhanced suite of services which ultimately serve to significantly improve the radiology options available to UK hospitals and therefore improve the care offered to patients.
CBPE’s investment in Medica is its third transaction in the healthcare sector in the past year, following the sale of Rosemont to Perrigo in February 2013 and the acquisition of assisted Reproduction & Gynaecology Centre (“ARGC”) in May 2012.
Anand Jain, Investment Director, CBPE said: “CBPE has built a strong reputation in the healthcare sector based on deep knowledge and a track record of investing in and building strong, sustainable businesses. We look forward to working with the Medica management team to support them in their growth plans. Medica is making a real difference to the way hospitals can benefit from highly efficient, specialist radiologist expertise provided in partnership with in-house radiology departments.”
John Graham, CEO of Medica said: “CBPE are clearly the right partner for us as we look to enter the next phase of our development. They have demonstrated a genuine understanding of the business and the importance of providing a high quality service which is second to none. I am very confident that in partnership with CBPE we can continue to provide an increasingly valuable service to hospitals around the UK, enabling them to provide quicker and better care to patients.”