Alantra advises medneo Group on strategic sale of medneo UK to CVC DIF

Aug 2024

Sell-side Advisory

London – Alantra has advised medneo Group on the strategic sale of its UK diagnostic imaging business, medneo UK, to CVC DIF, the infrastructure strategy of leading global private markets manager CVC (via its CIF III fund).

Founded in 2018, medneo UK is a premier provider of mobile diagnostic imaging services, specialising in MRI and CT scans. With a fleet of over 20 state-of-the-art mobile scanners and a dedicated imaging centre in London, medneo UK delivers essential imaging services to NHS Trusts and healthcare providers across the UK. Each year, medneo UK’s highly skilled team of radiographers serves over 130,000 patients, ensuring top-tier diagnostic support.

CVC DIF is a leading global mid-market infrastructure equity fund manager, founded in 2005 and headquartered in Amsterdam, Netherlands. CVC DIF manages approximately €18 billion in infrastructure assets, spanning energy transition, transport, utilities, and digitalisation. The firm offers a unique market approach by combining a global presence with strong local networks and sector-focused investment capabilities.

Justin Crowther, Managing Director and UK Head of Healthcare at Alantra, said: “Since 2018, medneo UK has disrupted the diagnostic imaging market by delivering high-quality services to NHS Trusts, health boards, independent hospital groups, and private payors. The business is now uniquely positioned to capitalise on the growing demand for enhanced and innovative diagnostic capabilities within acute care, private, and community settings. We look forward to seeing the business go from strength to strength during its exciting next phase of growth.”

Andy Spellman, CEO of medneo UK, added: “Huge thanks to Alantra for their invaluable support during this process. Their insight into our business model and sector, together with their outstanding execution capability, was instrumental in achieving a successful outcome.”

The acquisition by CVC DIF will enable medneo UK to further enhance its service offerings and expand its fleet of mobile scanners, continuing its mission to improve patient outcomes across the UK. The current management team, led by CEO Andy Spellman, will remain at the helm to drive the company’s growth and innovation.