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Australia's Capitol Health to acquire 4 radiology clinics in Melbourne

Capitol Health Ltd. agreed to acquire a network of four radiology clinics in Melbourne, Australia for A$8.1 million up front, on a cash- and debt-free basis.

The clinics, located in the Frankston, Dandenong, Boronia, and Carlton, were sold by Uniradiology Pty Ltd.

Capitol Health expects the network to contribute A$6.3 million in annual revenue, and said the clinics are highly complementary to its existing network.

The transaction, which will be funded from existing cash reserves and debt facilities, is expected to close in the third quarter of 2019, subject to standard conditions.

Capitol Health, which operates diagnostic imaging facilities, acquired several clinics in 2018.