Jardine Matheson to buy I-MED Radiology

On May 25, 2026, Hong Kong-based conglomerate Jardine Matheson agreed to acquire Australian medical imaging provider I-MED Radiology Network for an enterprise value of A$3.4 billion, or about $2.4 billion. The agreement positions Jardine to take full control of what is described as Australia’s largest medical imaging provider.

The transaction has been reported by media outlets including Reuters and Bloomberg, which cited company information and deal terms. The announcement follows earlier reporting that Jardine was close to an agreement and finalizing terms ahead of a formal disclosure.

Jardine Matheson will acquire a 100% stake in I-MED from funds advised by private equity firm Permira as well as other shareholders. The agreed enterprise value reflects the valuation for the entire business, including its associated holdings.

According to Jardine, the acquisition will be financed through a combination of existing cash reserves and debt facilities. The company stated that it expects the deal to be earnings-accretive from completion, indicating that I-MED’s contribution is anticipated to enhance Jardine’s earnings once the transaction closes.

The scope of the transaction also covers I-MED’s minority stake in Harrison.ai, an Australia-based developer of artificial intelligence tools for radiology applications. This means Jardine will indirectly acquire this minority interest as part of the broader I-MED purchase.

Harrison.ai develops AI systems designed for radiology workflows, and I-MED’s holding in the company is explicitly included within the deal perimeter. No separate valuation for this minority interest was disclosed in the available information.

I-MED is described as Australia’s largest medical imaging provider and operates more than 230 clinics. These facilities are located across both metropolitan and regional areas in Australia and New Zealand, giving the company a wide geographic reach.

The network’s scale and distribution form a key part of the asset Jardine is acquiring. The extensive clinic base underpins I-MED’s position in the medical imaging market and is central to the strategic profile of the transaction as presented in the deal announcement.