Baker & McKenzie is acting as M&A legal counsel for leading private equity firm EQT Mid Market on its acquisition of Australia’s largest medical imaging provider I-MED Network. EQT has entered into an agreement to acquire I-MED.

EQT invests in companies across the world and has four investment strategies: Equity, Mid Market, Infrastructure and Credit. This is the firm’s first investment in Australia.

I-MED runs 200 clinics across Australia and accounts for almost a quarter of the AUD3 billion diagnostic imaging market, including X-ray and ultrasound.

The Baker & McKenzie team is being led by its Asia Pacific head of healthcare Ben McLaughlin and private equity partner Brendan Wykes, with assistance from associate Jo Hopkins and special counsel Glen Selikowitz in Sydney. It also has the support of lawyers across our Employment, IP and Dispute Resolution practices from the Firm’s Melbourne, Singapore, Amsterdam and London offices.

McLaughlin said the deal represents the influx of foreign companies taking an interest in Australia’s life sciences sectors: “We are seeing considerable foreign investment interest in Australia’s healthcare industry, which ties in with the need for Australia to reduce public healthcare costs.”