Another London-listed UK company fell to private equity today as Medica agreed a £26mln takeover from Swedish investment group IK.
It is the fifth UK-listed company to have received a takeover or approach from a private equity firm in the past week.
IK has offered 212p for each Medica share, a 33% premium to its closing share price on Friday.
Pete Wilson, head of IK Partners’ UK Mid Cap strategy, said: “We believe that under [our] ownership, Medica will be able to invest further in its people, technology, and new capabilities which will allow it to better serve its customers, healthcare professionals and ultimately, continue to help improve patient outcomes.”
Medica has a fast-growing outsourced radiology service but said the cash offer presented investors with “attractive and certain value”.
Expressions of interest had been received from other possible bidders before accepting the IK offer, the statement added.
Shares rose 33% to 213p.