Since its establishment in 2007, Imaging Queensland’s (IQ) belief in doctor-focused radiology and quality expertise has formed the foundation of its successful growth and expansion.
Showing no signs of slowing down, this Queensland based diagnostic imaging provider is consistently opening new practices for a broad range of services, including clinics under the Sunshine Coast Radiology and Central Queensland Radiology brands. When the time came for the leadership team to assess its expansion and future exit plans, they needed an adviser who would keep IQ’s clear focus on excellence in patient care and the delivery of radiology services front of mind.
Having previously worked with BDO’s Corporate Finance team, Dr Siavash Es’haghi, IQ’s CEO, Managing Director and Radiologist, knew where to turn. Dr Es’haghi had confidence that BDO’s experience and commercial focus would result in a positive outcome for IQ’s shareholders. “We felt that we could trust BDO to not only preform in corporate accounting and due diligence, but also provide us with adequate advice during the transaction,” Dr Es’Haghi said.
With the assistance of Steven Sorbello and BDO’s Corporate Finance team, IQ’s leaders fully considered their exit options, including interest from Australian Securities Exchange (ASX) listed company, Integral Diagnostics Limited (IDX). Together, BDO and Dr Es’haghi identified that IDX and IQ employed a similar culture and had the right fit both geographically and from a business perspective.
Few transactions progress without the need to manage a challenge. That is why Steven and BDO’s corporate finance team provided clear and concise technical, commercial and transaction advice that kept the shareholders’ best interests in mind at every step in the process. “BDO’s team is approachable and easy to communicate with,” said Dr. Es’haghi. “They present transparent communication ensuring IQ’s close involvement every step of the way.”
While the reality of COVID-19 and today’s new environment is apparent, the transaction strongly positioned IQ to handle the impacts. Dr Es’haghi believes the fundamentals of the IQ business, combined with IDX’s loyal clients and a focus on efficiency, have allowed its staff and doctors to assist immensely in recent times of need.
Importantly, IQ’s passion and professionalism endures, ensuring the newly formed partnership with IDX will continue delivering excellent radiology services to patients, just as IQ set out to achieve.
If you are looking for a transaction specialist with commercial experience, or would like to learn more about managing a transaction process, contact a BDO corporate finance and transaction specialist today.