Private equity firm Crescent Capital has called in the investment bankers to help firm up buyer interest in its $1 billion-odd radiology business, PRP Diagnostic Imaging.
Jessica Shapiro
The early interest is understood to have stemmed from core-plus infrastructure investors, who have swarmed Australia and New Zealand’s radiology assets in the past two years in search of long-life business with stable cash flows. Analysts reckon PRP could be worth about $1 billion, based on multiples in the sector and its last reported earnings.PRP started life as Pittwater Radiology Partners, on Sydney’s northern beaches, and has grown to 25 practices in New South Wales.
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