Corporate and M&ANovember 05, 2020

Dillon Eustace advises on Centric Health’s €16M GDI sale to Medica

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4th November 2020 - Dillon Eustace, the leading Irish law firm, recently advised the owners of private Irish healthcare group, Centric Health on its sale of Global Diagnostics Ireland (GDI), the market leader for teleradiology services in Ireland for an initial cash consideration of €16m (£14.5m).

The acquisition was made by Medica Group Plc, the UK market leader in the provision of teleradiology services, with the aim to extend its geographic reach, customer base and service offering.

Founded in 2003, Centric Health is an integrated private health service reaching over 200,000 patients in Ireland and the UK each year. With a staff exceeding 300, Centric Health will continue to provide global diagnostics services post sale.

GDI, based in Balally, Dublin was established in 2007 to operate diagnostic managed services. In the Irish radiology services market worth over €500m, GDI currently operates at over 50 clinical sites within Ireland, employing a team of over 140 people nationwide working alongside more than 20 Irish Medical Council certified specialist radiologists.

The Centric Health team was advised by Dillon Eustace’s team led by Catherine Hicks, of the Corporate and M&A team assisted by Lorcan Tiernan, partner and head of Corporate and M&A, Conor Keaveny, partner, Banking and Capital Markets with support from David Lawless, Head of Tax.

Commenting on the deal, Lorcan Tiernan, partner and head of Dillon Eustace’s Corporate and M&A department said: “We are delighted to have advised on the sale of GDI from Centric Health and wish the team every success as the market evolves.”

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