Dubai International acquires Alliance Medical for $1.25B

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Bridgepoint Capital Group reported that it has sold Alliance Medical Holdings, a pan-European medical imaging company, to Dubai International Capital (DIC) for £600 million ($1.25 billion U.S.).

The private equity firm bought the provider of diagnostic-imaging services for £86 million ($179.5 million) in January 2001, when it was primarily a U.K. business. Having made 16 acquisitions since then, Alliance Medical has operations in a number of regions including Ireland, Italy, Germany, The Netherlands and Spain.

Alliance Medical of Warwickshire, United Kingdom, provides MRI, CT and PET scans to both public and private hospitals, operating more than 190 scanners for private hospital groups and national health services across Europe, according to Bridgepoint.

DIC reported it is backing Alliance's existing management and plans on further growth internally and expansion into new markets.

"The acquisition of Alliance Medical is our first foray into the healthcare sector and is an important contribution to the diversification of our asset portfolio," said Sylvain Denis, chief executive of DIC Private Equity.