Jardine Matheson Holdings, a Hong Kong-based conglomerate with businesses in retail, property, and automotive, said on May 25 it agreed to acquire 100% of I-Med Radiology Network for an enterprise value of A$3.4 billion (US$2.4 billion).

The deal expands the conglomerate into healthcare diagnostics.

The deal includes I-MED’s minority stake in Harrison.ai and is expected to complete later in 2026.

I-Med operates 215 diagnostic imaging clinics across Australia and New Zealand, performs more than 7 million procedures annually.

The company also runs teleradiology services in Australia, New Zealand, and the US.

In Australia, I-Med has the largest market share in diagnostic imaging services, according to IBISWorld.

The Harrison.ai stake also gives Jardine Matheson exposure to radiology AI.

Harrison.ai is an Australia-based healthcare AI company, and I-Med previously worked with it through Annalise.ai.

Jardine Matheson said it will fund the acquisition with cash on hand and debt.

🔗 Source: Jardine Matheson Holdings