Private equity firm Livingbridge has come to play and it means business.
It is understood to have agreed to a deal to acquire a majority stake in Everlight at the weekend, buying it off Intermedia Capital Group for a price that’s believed to value Everlight at more than $500 million.
Everlight offers diagnostic services to hospitals and other health providers and was founded in Australia in 2006, before expanding offshore.
The deal is expected to be Livingbridge’s largest in Australia in terms of both value and scope.
The London-headquartered PE firm only set up shop in Australia in 2016, when it opened an office in Melbourne.
Private equity firm Livingbridge has marked its cards as a serious player in the local buyouts scene, buying teleradiology business Everlight Radiology.
RoZetta Ventures has sold its stake in wholesale food and beverage order management system Ordermentum, giving Matt Rockman, David Gordon, Bosco Tan and PURE the chance to buy in.
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