23/09/2008
Growth Acquisition for Alliance Medical

Dubai International Capital Announces Growth Acquisition for Alliance Medical

Dubai International Capital LLC, the Dubai-based investment firm that acquired Alliance Medical in November 2007, today announced the acquisition of Lodestone Patient Care by Alliance Medical, a provider of diagnostic imaging services across the UK to both the public and private healthcare sectors.

Commenting on the acquisition, Andrew Smith, Managing Director of Alliance Medical UK said, “The addition of Lodestone to our business will help us to meet the ever-increasing UK demand for diagnostic services provision and will, we believe, improve our customer service offering by enabling our entry into new diagnostic imaging modalities and related business areas.”

Sylvain C. Denis, Chief Executive Officer of DIC Private Equity added, “This acquisition for Alliance is a testament to the continuous support we provide to our portfolio companies and their management in realising their growth plans. Alliance Medical boasts a successful business model which we are proud of, and we are confident that the transaction will ensure Alliance Medical’s continued success in the UK market.”

Founded in 1989, Alliance Medical is a leading pan-European provider of outsourced diagnostic imaging services with substantial operations in Italy, Ireland, Spain, and Northern Europe, in addition to the UK, where it supports more than 400 hospitals. The business was acquired by DIC in November 2007 for £600 million.

Lodestone Patient Care operates 23 static MRI scanning facilities across the UK. The diagnostic imaging services provider has been working in close partnership with the National Health Service ( NHS ) for over 15 years and was the first private radiology company to enter into a public-private partnership ( PPP ) with the NHS.  Lodestone Patient Care was acquired from Australian-based I-MED, a diagnostic imaging network owned by CVC Capital Partners, and will be merged with Alliance Medical’s UK operations.