It’s all happening in the world of mergers and acquisitions of Australian medtechs. News from Monash IVF, Ramsay Health Care, and I-MED.
Ramsay Health Care is close to divesting itself of its UK arm but don’t expect any quick moves.
Ramsay confirmed back in February that it would demerge its 52.79% interest in European hospital operator, Ramsay Sante, with that move likely in December, following a shareholders’ meeting in November, according to The Australian.
But now speculation is rife that the company is keen to exit its UK private hospital business, which comprises 34 hospitals and clinics treating more than 200,000 patients a year, supported by 7900 employees and 3000 doctors.
It also includes Elysium, a mental healthcare business acquired from private equity firm BC Partners for $1.4 billion in 2021.
Finding a buyer for Ramsay Sante has proved challenging so far. In 2025, CEO Natalie Davis said the French funding model meant the group received 25% to 30% less funding for the same work carried out in the government sector, placing pressure on the business.
Market sources believe any buyer of Ramsay Sante would need to outlay at least $2 billion, according to the Oz.
Ramsay Health Care refused to comment.
Also in today’s edition:
- Ignoring the SDPR truth won’t make it go away
- Dementia death gap drives push for ‘Hem’s Law’
- ‘Totally gutted’: Cohealth patients brace for another GP services shock
- St Vinnie’s group CDO quits for university role
- Aged care funding model ‘failing complex residents’, providers warn
- Who is Victoria’s new health minister?
- We’re building systems to make healthcare better. Who’s looking after the people doing that?
I-MED’s mystery suitor emerging
Giant US radiology group Radiology Partners is likely to be the mystery suitor on the hunt for Australian firm I-MED, according to The Australian.
I-MED is planning an ASX listing for later this year, making it a juicy target for offers. Backers, private equity firm Permira, is looking to back out of the Australian side of its business to consolidate in India.
The asking price is believed to be over $3 billion, a figure which caused Macquarie Asset Management and Stonepeak to walk away from their interest in buying the business.
Radiology Partners completed its $US720 million growth equity investment in February 2024.
“The company has emphasised its focus on clinical advancements, technology and AI within radiology, positioning itself as a physician-led and physician-owned practice that aims to transform the specialty,” said the Oz.
“For Radiology Partners, an I-MED acquisition would represent a significant international expansion and provide an immediate foothold in the Australian market.”
Related
Big dogs sniffing around Monash IVF
Troubled fertility group Monash IVF is fielding another buyout offer from Soul Patts and private equity group Genesis Capital, the Australian Financial Review reports.
Monash IVF has already rejected one offer from the consortium, which already owns about 19.6% of the company. Offer one was for 80c a share. That’s been lifted to 90c a share this time around, valuing the company at about $350 million.
Soul Patts and Genesis told the AFR it was as high as they were prepared to go, unless a rival offer pops up.
Monash IVF’s shared dropped about 50% of their value after consecutive controversies that saw one embryo implanted in the wrong woman, and another woman given her own embryo instead of that of her partner.
Still worth $350 million, though.