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Bakers acts in big health merger

Bakers acts in big health merger

Baker & McKenzie is acting for MIA on the proposed $1.2 billion merger with the DCA Group which, on completion, will make the combined DCA/MIA group the largest diagnostic imaging provider…

Baker & McKenzie is acting for MIA on the proposed $1.2 billion merger with the DCA Group which, on completion, will make the combined DCA/MIA group the largest diagnostic imaging provider in Australia.

The law firm said the transaction, being carried out through a scheme of arrangement, was a major step in the ongoing consolidation of the Australian and international health sector.

Earlier this month, DCA and MIA announced they had reached agreement for DCA to acquire MIA — a diagnostic imaging (radiology and nuclear medicine) and radiation oncology services provider — for $700 million.

The proposed acquisition has been unanimously endorsed by the Board of MIA and in the absence of a higher offer, DCA has offered $0.408 cash plus 0.225 DCA shares for every MIA share.

Baker & McKenzie said it had been working with MIA since its inception, to its IPO and now the merger. The firm will assist MIA with the conduct of the scheme of arrangement through two court hearings and shareholder meetings.

“We have worked with MIA now for five years through its expansive growth period when it made a number of large acquisitions in the diagnostic imaging market,” said Ralph Pliner, lead partner.

“Working with a company throughout its life and being able to see it into its next phase as part of a merged larger ASX Top 100 company is a very rewarding experience.”

The CEO of MIA, Paul Mirabelle, will take over as CEO of I-MED Ltd which will control the combined diagnostic businesses of DCA and MIA. In addition to Mirabelle’s appointment, two other MIA nominees will go onto the DCA board.

The Baker & McKenzie team also included partner David Holland and associates Eddy Goldsmith and Lyndon Masters.

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