Quintet invests in Australian radiology business

Exact manages nine full-service clinics offering services ranging from prenatal ultrasounds to CT scans. It also provides analysis services to four express clinics and Ipswich Hospital in Queensland. Quintet’s investment will support the company’s planned expansion, including construction of new clinics and adding additional services.

Previous investors in Exact include Australia’s Bridgeport Capital and New Zealand PE firm Direct Capital, which committed an undisclosed amount earlier this year. The company was founded in 2007 by a team of radiologists who continue to hold a significant stake.

Quintet was launched in 2016 by Douglas Farrell, who previously headed M&A and real estate investment banking operations for Citigroup in Australia. The Exact deal represents Quintet’s third investment from its $50 million debut PE fund. Financial details of the transaction have not been disclosed, but AVCJ understands the majority of the fund has now been invested.

Currently, Quintet has $150 million in assets under management across four investment funds covering private equity, real estate, infrastructure, and energy. The firm’s PE investments focus on listed and unlisted companies with valuations in a range of A$20-200 million ($13.8-138 million). It previously backed IT contract recruiting firm Talent and financial services provider One Investment Group.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Australasia
• Healthcare
• Expansion
• Australia
• Quintet Partners
• Growth capital