Integral Diagnostics to acquire The X-Ray Group for $27.8m.

Integral Diagnostics, a radiologist and diagnostic imaging provider, agreed to acquire The X-Ray Group, a privately owned radiology company, for $27.8m (A$38.5m). "We are pleased to partner with Dr James Mullins and the X-Ray Group to enhance IDX’s presence in regional Victoria and our entry into Southern NSW. The X-Ray Group is a leading regional radiology business that strongly complements our existing businesses. The Group’s radiologists, specialists and staff represent a strong strategic and cultural fit with IDX’s doctor led operating model. The five clinics have a demonstrated track record of achieving strong margins and earnings growth and will add value to the IDX group. We extend a warm welcome to The X-Ray Group doctors and staff and look forward to partnering with them to further grow our combined business," Ian Kadish, Integral Diagnostics Managing Director and CEO.