Sale of Imaging Queensland
Established in 2007, Imaging Queensland (IQ) is a major provider of advanced diagnostic imaging services and radiology education across Queensland. IQ offers a broad range of imaging services across its network of 18 clinics.
In November 2019, BDO managed the successful sale of IQ to Integral Diagnostics Limited (IDX) for an upfront consideration of approximately $104m. IDX is a listed company on the Australian Securities Exchange, with a market capitalisation of over A$680 million at the date of completion, and 2019 financial year revenues of over A$230 million.
BDO’s role included:
- Liaising with acquirer
- Managing the due diligence process
- Providing advice on commercial and financial structuring issues
- Managing and leading negotiations
- Providing input into the sale and purchase agreement and other necessary legal documents
- Other matters as required to complete the transaction.