Deal: The acquisition marks the first investment by IFM’s newly raised Long Term Private Capital Fund, Allens said in a statement, which is anchored by UniSuper and HostPlus and focused on long-term investments in established, defensible businesses with actionable growth profiles across Australia and New Zealand.

Area: Private capital

Value: N/A

Key players: The Allens team was led by partners Emin Altiparmak and David Couper, who were supported by partners James Kanabar, Penny Nikoloudis, Simon Dewberry, Annabelle Aland, Michael Park and Caroline Ryan, managing associates Joshua Hoare, Chloe Wilton and Lauren John, senior associates Niamh Rogers, Vincent Pang, Brian Kirkup, Jamil Diu, Jamie Griffin and Nick Li, counsel Richard Hamer, associates Alisha D’Souza, Claire Watson, James Keir, Erica Tan, Edward Thien, Alexandra Moloney and Jacob Flynn, and lawyers Jakob Cobby, Olly Gagiero, Stanton Lau, Katherine Polazzon, Charlotte Chang and Kevin Fan.

Deal significance: Speaking about the deal, Mr Altiparmak said: “We are delighted to have supported IFM on this marquee investment by its LTPC Fund.

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“The transaction is the latest in a series of recent private equity-led buyouts of medical imaging businesses, with the intersection between healthcare and technology proving compelling. PRP Imaging is very well positioned for future growth with IFM’s support.”

Mr Couper added: “Credit opportunities for private equity-led buyouts in the healthcare sector continue to be robustly supported by the Australian leveraged loan market. We congratulate IFM and its stakeholders on this transaction and are delighted to have advised on the debt financing.”