BUYER POOL ANALYSIS
Selling a Imaging Center to Private Equity / PE-Backed Roll-Up buyers
Private equity firms and PE-backed platform consolidators acquiring for roll-up, add-on, or platform plays. Pricing tends to lead the market for fee-viable scale, with multi-bidder competitive processes above the EBITDA floor.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 8.43x across 20 disclosed deals (P25: 6.68x, P75: 11.31x). Median EV/Revenue 1.98x across 16 deals. Median deal value: $450.8M.
- How many disclosed transactions?
- 21 deals total (6 from 2018+), filtered to Private Equity / PE-Backed Roll-Up acquirers of imaging center businesses.
- Most active buyers
- Quadrant Private Equity (1) · Affinity Equity Partners (1) · American Securities (1) · Welsh, Carson, Anderson & Stowe (1) · Wellspring Capital Management (1) · Madison Dearborn Partners (1)
Recent disclosed deals
Private Equity / PE-Backed Roll-Up acquisitions of imaging center businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | Carlisle Health | Quadrant Private Equity | $200.0M | 10.0x | 2.00x |
| 2025 | Lumus Imaging | Affinity Equity Partners | $658.0M | 17.0x | — |
| 2021 | SimonMed | American Securities | $600.0M | 8.0x | — |
| 2019 | American Health Imaging | Welsh, Carson, Anderson & Stowe | $275.0M | 9.8x | — |
| 2019 | Center for Diagnostic Imaging | Wellspring Capital Management | $750.0M | 10.0x | — |
| 2018 | Solis Mammography | Madison Dearborn Partners | $580.0M | 14.2x | — |
What this buyer pool prices for
Private equity acquirers price for scale and roll-up arbitrage. They pay up for businesses that fit a platform thesis — recurring revenue mix above 30%, technician/professional depth, clean financials, and a management layer that survives integration. The same imaging center can command 1.5x to 2x the multiple of an individual-buyer transaction simply because the PE buyer is acquiring a platform piece, not an owner-operated shop.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to imaging center businesses acquired by private equity / pe-backed roll-up buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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