Alliance Medical is the leading European provider of diagnostic imaging services (such as MRI, CT and PET scans) to private and publicly owned hospitals across Europe. Founded in 1989, it was the subject of a Bridgepoint-backed buyout in January 2001 when two existing institutional shareholders decided to exit their investment.
| www.alliancemedical.co.uk | ||||
| Sector | Healthcare | Location | London | |
| Acquired | 2008 | Deal size | €141m | |
Bridgepoint's value creation plan for the business focussed on Alliance Medical's development of the European outsourced diagnostic market. This saw the company build on its leading positions in each of its key markets by delivering high quality service with state of the art technology and expanding its activities via selective acquisition of independent diagnostic clinics in Europe. Since Bridgepoint's original acquisition, the company successfully consolidated its UK market position and expanded into Continental Europe through 16 acquisitions, most notably in Ireland, Italy, Germany, The Netherlands and Spain, to become the only truly pan-European operator. Under Bridgepoint ownership, Alliance Medical increased revenue six fold and profits five fold. The number of scanners increased from 31 on acquisition in 2001 to 190 in 2007; and employee numbers rose from 177 to 690. Alliance Medical was sold in November 2007 in a transaction totalling £600 million giving Bridgepoint investors a multiple in excess of 4x on their original investment but with bridgepoint re-investing some of its proceeds to retain a minority stake in the company.
