THE BRIEF
In June 2017, Quadrant invested in two leading radiology groups, Qscan and North Coast Radiology, to establish a platform group providing high-end diagnostic imaging services in Queensland and Northern NSW. Qscan was established in 2006 and has grown from a single clinic and hospital contract at Windsor to a group operating 21 clinical locations across Queensland, from Redcliffe to Burleigh. North Coast Radiology was established in 1974, operating 11 clinical locations in Northern NSW, Lismore and Sydney.
Since Quadrant’s initial investment, Qscan has invested in Berera Radiology, Universal Medical Imaging, South East Radiology and Alpenglow Australia, and opened a number of new clinics including 6 PET-CT locations across Australia, with a further 4 to open in 2020.
The combined group operates over 70 clinics, supported by over 100 radiologists and 730 staff, and providing more than 1.2 million procedures annually.
OUR APPROACH
Quadrant was attracted to the growing $4.5 billion diagnostic imaging market and the opportunity to partner with a leading radiology group in Qscan to develop a differentiated, high quality radiology group of scale.
Following Quadrant’s investment, Qscan focussed on delivering growth by:
- Building scale through organic growth opportunities including new sites and strategic partnerships
- Pursuing attractive acquisition opportunities within the region
- Attracting new talent through a strong doctor equity and governance model
- Driving strategic partnerships including with leading Australian and global hospital operators
- Driving a best practice approach to client and clinical service across an expanded group