Hong Kong-based Affinity Equity Partners announced that it is acquiring radiology services provider Lumus Imaging from St Leonards, Australia-based healthcare company Healius Limited for A$965 million (approximately $658 million USD).
Lumus Imaging is a Sydney, Australia-based diagnostic imaging company. It is made up of a team of radiographers, sonographers, nuclear medicine technologists and nurses. It has more than 2,000 diagnostic imaging experts and support staff across 135 sites across Australia.
Affinity Equity Partners is one of the largest Asian private equity firms in the world, with more than $14 billion in assets under management. It was founded in 1998.
Healius expects to net transaction proceeds of more than $575 million from the deal after paying equipment leases and making other closing adjustments. The company will collect $550 million after accounting for separation costs, transaction fees and other expenses. Both sides hope to close the deal in 2025’s first quarter pending regulatory approval and other conditions. After unloading the company, Healius plans to focus on its pathology division.
“The sale will provide Healius with both the resources and time to continue to improve our pathology operations and the scope to return cash to shareholders,” Managing Director and CEO Paul Anderson said in the announcement. “As a clinically driven, large-scale pathology business, Healius delivers critical diagnostic services to millions of Australians each year, and we are excited by the opportunities to grow and improve the business.”
According to data captured in the LevinPro HC database, this transaction marks the 89th Laboratories, MRI and Dialysis acquisition of 2024. Of those transactions, 56% (50 deals) have been announced in the diagnostics specialty. There were 65 diagnostic deals announced during 2023, and 71 announced during 2022.
