This week I attended London Tech Week. Much like last year, AI remained the key focus across all sessions and high-level talks. How are we now talking about AI in healthcare?
London-based private equity firm Permira has agreed to sell I-MED Radiology Network, Australia’s largest diagnostic imaging provider, to Jardine Matheson, a London-and-Singapore-listed conglomerate, for A$3.4 billion (~US$2.4 billion). The transaction also includes Permira’s stake in Harrison.ai, a medical imaging AI company.
RadNet, the biggest outpatient imaging company in the US, has bought London-based cloud-native imaging platform CIMAR UK, to grow its AI-focused health division, DeepHealth, across the UK and Europe. The financial details of the deal were not shared.
Fakeeh Care Group, a healthcare service provider in Saudi Arabia, and Fosun Pharma, an innovation-driven global healthcare company, have forged a strategic partnership to advance cell and gene therapy and tele-diagnostics in Saudi Arabia.
Large scale healthcare services M&A has been mostly on hold in Europe for almost three years now. Despite all the economic and geopolitical uncertainty the world is currently facing, 2025 will probably see more activity.
The healthcare sector is increasingly relying on AI and robots, from diagnosis to surgeries. HBI spoke with Dr. T. Manohar, Director & Chief of Urology Services at Apollo Institute of Urology, Uro Oncology, and Kidney Transplantation, about the use of AI in cancer diagnosis.
At last year’s conference Hedley Goldberg, Managing Director at multinational investment bank Rothschild, predicted healthcare M&A activity would begin picking up again in Q4 2023 or Q1 2024. But we’re now halfway through 2024 and there are still very few deals above €500m taking place. Goldberg is confident, however, that we have now passed through the bottom of the cycle.
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