I-MED is Australia’s largest private diagnostic imaging network, with centres in all major metropolitan areas and significant parts of rural and regional Australia. In December 2006, CVC Asia Pacific and CVC Capital Partners jointly completed the acquisition of DCA Group Limited (DCA), which operated Australia’s largest diagnostic imaging clinic network, the Lodestone diagnostic imaging network in the UK and Australia, as well as New Zealand’s leading aged care facility operators.
In December 2007, DCA sold the Aged Care business to Bupa Plc. As a result of this sale, the DCA investment now only comprises the Diagnostic Imaging business. The Australian company was renamed I-MED Holdings Pty Limited and trades under the name I-MED Network. In Australia, I-MED consists of 230 diagnostic imaging clinics. On a national basis I-MED is almost twice the size of its nearest competitor, employing approximately 290 radiologists and, in 2007, completed 4.3 million examinations.
The population of elderly people in Australia is expected to increase significantly over the medium term, with the current number of people over 65 years old increasing from 2.4 million to 2.9 million by 2011, and to 3.5 million by 2021. This demographic shift has underpinned a favourable environment for the diagnostic imaging and aged care sectors in recent years.