Evidia acquires 4ways – a leading teleradiology services provider in the UK
London / Frankfurt / Dortmund, 5th April 2023: Evidia, a leading radiology and radiotherapy services provider in Germany, Sweden and Norway has acquired 4ways, a leading UK and European tele-diagnostic company. The acquisition by Evidia, which is backed by EQT Infrastructure, will further accelerate Evidia’s journey to becoming a pan-European market leader in radiology services.
The acquisition represents a full realisation for growth-focused private equity investor, ECI Partners.
4ways uses its technology platform to deliver a 24/7, tech-enabled service, providing routine, out-of-hours and specialist clinical reporting on diagnostic images which helps hospitals, Regional Imaging Networks and other healthcare providers to deliver high quality and efficient care to their patients. Since ECI invested, the business has significantly invested in its tech platform, developing cutting edge radiology solutions to expedite patient treatment and improve quality of care, with the business growing consistently by over 20% per annum.
The acquisition will significantly extend Evidia’s existing teleradiology capabilities, while providing an attractive proposition into the large UK radiology market.
Ajay Chadha, CEO and significant shareholder of 4ways, commented: “We are really looking forward to working together with Evidia, supported by EQT Infrastructure, to deliver our high-quality solutions to more providers and patients, and continue to invest in leading edge technologies and processes to improve the quality of health outcomes across the European Radiology market. As a combined Group, we now have the breadth of solutions and clinical expertise and capital infrastructure to support health economies to improve their diagnostic and treatment services at scale. We’d like to thank the ECI team for all their support over recent years in developing our business and its technology platform, which has enabled such strong growth over recent years.”
Jan Hörnström, Head of International at Evidia, commented: “4ways has an impressive track record in servicing the UK market with high quality teleradiology services and we are excited to welcome them to our Group. Together we will bring further value to patients and healthcare professionals across the European market while accelerating Evidia’s digitally focused capabilities.”
George Moss, Partner at ECI Partners, commented: “We are thrilled with how 4ways’ proposition has evolved and grown during our investment, supporting more patients and more healthcare providers to provide accurate diagnostics at scale and do good. During our partnership we’ve supported Ajay and the team to increase 4ways’ investment in technology, AI and automation, further enhancing patient safety, reporting accuracy and clinical outcomes. We’d like to thank the whole 4ways team for such a successful partnership and we wish them every success as part of Evidia.”
Notes to Editors
For further information please contact:
ECI Partners: Jeremy Lytle / Fiona Moore
T: +44 (0)20 7606 1000
Rostrum: Sophie Mellish
T: +44 (0) 7890 752508
Jan Hörnström, CEO Evidia Nordics & Head of International
Alexander Jenner, Head of M&A
Evidia is one of the leading groups of radiological, nuclear medicine and radiation therapy practices across Germany, Sweden and Norway. The group was formed through the combination of Meine Radiologie Holdings, blikk Holding and Aleris Imaging Group, and employs over 400 doctors across over 120 locations and performs over 3 million scans per year. Evidia is backed by EQT Infrastructure.
EQT is a purpose-driven global investment organization with EUR 113 billion in assets under management within two business segments – Private Capital and Real Assets. EQT funds own portfolio companies and assets in Europe, Asia-Pacific and the Americas and support them in achieving sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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ECI manages funds of over £2bn and invests in growth businesses valued up to £300m, investing as either a majority or a minority investor. Its growth focus is integral to how they’ve built their team. ECI has created the capability to support management teams on anything from sourcing and executing acquisitions, developing market entry strategies, understanding and improving employee engagement, or ensuring a tech platform can scale as quickly as a company can, and much more. Its whole team is committed to doing what it can for the teams they partner with.
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