I-MED Network Radiology

What I-MED Network Radiology does

I-MED Radiology Network is Australia's largest diagnostic imaging provider, operating 215+ clinics across all states and territories plus New Zealand, and performing more than 7 million procedures annually. Its service portfolio spans MRI, CT, X-ray, ultrasound, nuclear medicine, PET, mammography, bone densitometry, image-guided biopsy, and interventional procedures, delivered through both consumer-facing clinics and outsourced contracts with leading Australian hospitals. The company also operates the I-TeleRAD teleradiology brand for remote reporting and entered the US market in 2024 via the StatRad acquisition. Underlying technology is a multi-modality imaging stack augmented by third-party clinical software: Volpara Health AI for breast density measurement, Qaelum DOSE for radiation dose monitoring across 208 CT/PET/SPECT systems, 3D breast tomosynthesis, and a Harrison.ai minority stake providing AI capable of analyzing chest X-rays and CT scans across 455 diagnoses. Patient-facing infrastructure includes an online booking platform, the My I-MED portal for image access and appointment management, and an e-referral system for practitioners.

I-MED generates revenue primarily through fee-for-service diagnostic imaging, with a mixed-billing model combining Medicare rebates (processed by clinics on patients' behalf) and provider gap fees. Pensioners and healthcare card holders are bulk-billed for most Medicare-eligible procedures, and participation in the National Lung Cancer Screening Program (effective July 2025) adds a fully government-funded screening volume. A secondary revenue stream comes from managed-service hospital outsourcing contracts for complex cardiac and diagnostic imaging. Customers are segmented across individual patients (referred by GPs and specialists), referring healthcare practitioners, and public/private hospitals. Distribution runs through owned clinics, hospital B2B contracts, the digital self-service platform, and the teleradiology channel.

Ownership transitioned from Permira (2018-2026) to Hong Kong-based conglomerate Jardine Matheson in May 2026 in a deal valued at A$3.4 billion (US$2.4 billion), approximately 11.5x forecasted adjusted EBITDA and one of the first major transactions under Jardine's new CEO Lincoln Pan. Under Permira, the network expanded roughly threefold from ~70 to 215+ clinics. Leadership includes CEO Steven Rubic, CFO Clare Battellino, Head of Sales and Marketing Luke Targett, GM Operations Bruce Potts, and Chief Medical Officer Dr Ronald Shnier.

Name

I-MED Network Radiology

Legal name

I-MED Radiology Network

Website

https://i-med.com.au

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

I-MED Radiology Network is Australia's largest diagnostic imaging provider, operating 215+ clinics across Australia, New Zealand, and the US, performing 7 million+ MRI, CT, X-ray, ultrasound, and PET procedures annually for patients, GPs, specialists, and hospitals under a Medicare mixed-billing and hospital outsourcing model.

Ownership category

akta.pro rank

Product category

Diagnostic Imaging Services

NAICS

Diagnostic Imaging Centers (621512), Ambulatory Health Care Services (621)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Health Services (8000)

akta.pro primary industry

Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound) (HLAFAKAA)

akta.pro secondary industries

Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology) (HLAFAKAB), Nuclear Medicine & Molecular Imaging (SPECT/PET) (HLAHABAE), Women’s Imaging & Breast Health Centers (HLAFAJAJ), Image Exchange, Sharing & Patient/Provider Portals (DICOM/Web) (HLACALAI)

Keywords

• Diagnostic imaging services
• Medical imaging network
• Radiology clinics
• Teleradiology services
• Hospital outsourcing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Diagnostic Imaging Services: Fee-for-service medical imaging procedures where patients pay for radiology services. The company uses a mixed-billing policy combining Medicare rebates (processed by clinic on patient's behalf) plus provider gap fees. Services are provided across MRI, CT, X-ray, ultrasound, nuclear medicine, PET, mammography and interventional procedures.
2. Hospital Outsourcing Contracts: I-MED serves as trusted outsourced provider to some of Australia's leading hospitals, delivering complex cardiac and diagnostic imaging services

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

I-MED Radiology Network operates Australia's largest diagnostic imaging network with 215+ clinics across Australia and New Zealand, providing MRI, CT, X-ray, ultrasound, nuclear medicine, PET scans, mammography, and interventional radiology procedures. Services are delivered to patients referred by GPs and specialists and through outsourced diagnostic imaging contracts with leading Australian hospitals.

Product overview

I-MED Radiology Network operates as Australia and New Zealand's largest diagnostic imaging network, offering a comprehensive range of medical imaging services across multiple modalities. The core offering is the I-MED clinic network providing MRI, CT, X-ray, ultrasound, nuclear medicine, PET scans, mammography, and interventional procedures. The network is complemented by patient-facing services including the My I-MED portal for appointment management and image access, and I-TeleRAD for teleradiology services. The organization has also integrated third-party clinical support technologies including Volpara Health's AI-based breast density measurement software and Qaelum DOSE radiation monitoring across its imaging systems.

Differentiator

Problem solved

Functional benefit

Brands

• I-TeleRAD: Teleradiology services offered by I-MED for remote radiology reporting and image analysis.
• My I-MED

Products and services

• I-MED Radiology Network Diagnostic Imaging Services Comprehensive diagnostic imaging services across multiple modalities (MRI, CT, X-ray, ultrasound, nuclear medicine, PET scans, mammography, interventional procedures) provided through a network of 215+ clinics in Australia and New Zealand to patients referred by GPs and specialists.
• Breast Tomosynthesis (3D Mammography) Advanced 3D mammography service available at select I-MED clinics that improves invasive breast cancer detection by 40% versus traditional mammography, using Volpara Health AI-based breast density measurement software to tailor examinations.
• Cardiac Imaging Services Specialized cardiac imaging services delivered by 154+ accredited cardiac imaging radiologists, serving both hospital outsourcing clients and direct patient referrals.
• National Lung Cancer Screening Program (NLCSP) Government-funded lung cancer screening service providing bulk-billed low-dose CT scans at no cost to eligible patients (aged 50-70 with 30+ pack-year smoking history) under the National Lung Cancer Screening Program effective from 1 July 2025.
• I-TeleRAD Teleradiology Services Remote radiology reporting and image interpretation service offered under the I-TeleRAD brand, enabling diagnostic image analysis to be performed remotely for hospitals and healthcare facilities.
• Hospital Outsourcing Services Outsourced radiology services delivered to leading Australian hospitals, including complex cardiac imaging and diagnostic procedures, serving public and private hospitals requiring supplementary radiology capacity and sub-specialist expertise.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Harrison.aicoreTechnology or Integration · 25 May 2026I-MED holds a minority stake in Australian AI firm Harrison.ai, which develops radiology AI solutions including software capable of analyzing chest X-rays and CT scans across 455 diagnoses. Harrison.ai's technology is used by 3,400 clinicians across 1,000+ hospitals in more than 40 countries, providing I-MED with access to AI-powered diagnostic capabilities.
• Jones RadiologyminorOthers · 25 September 2025Radiologists bought back control of Jones Radiology by acquiring the 49% stake previously held by I-Med Radiology Network. Jones Radiology had been part of I-Med for over 25 years before the buyback.
• Radiology PartnersminorOthers · 1 January 2025Radiology Partners, America's largest radiology group, reportedly explored a bid to acquire I-MED from Permira, demonstrating market interest in I-MED's assets, though no transaction occurred.
• StatRadcoreStrategic or Co-development Partner · 1 January 2024I-MED expanded into the US market through the 2024 acquisition of StatRad, a US-based radiology company. This represents I-MED's strategic entry into the American diagnostic imaging market.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Radiology Partners: America's largest radiology group with a similar hospital-outsourcing and multi-site imaging model. Comparable in scale, multi-modality offering, and PE-backed growth playbook; explored acquiring I-MED from Permira in 2025, demonstrating direct strategic comparability.
• Sonic Healthcare: ASX-listed diagnostics powerhouse providing pathology and radiology across Australia and globally. Overlaps with I-MED in Australian diagnostic imaging and shares a multi-modality, hospital-referral-driven business model.
• Envision Healthcare: Large US physician and radiology services group. Broader healthcare services incumbent with overlapping radiology outsourcing but a much wider portfolio than I-MED's imaging-only focus.

Direct peers

• Integral Diagnostics: ASX-listed radiology operator across Australia and New Zealand. Most direct geographic and operating-model peer to I-MED's ANZ clinic network, competing in many of the same metropolitan and regional markets.
• Qscan Group: Private Australian radiology provider with a clinic network across multiple states. Directly comparable to I-MED in service mix, sub-specialist model, and hospital outsourcing contracts.
• Healius Limited: Australian diagnostics operator (formerly Primary Health Care) running imaging and pathology assets. Directly comparable as a multi-site Australian imaging competitor with similar GP/specialist referral dynamics.
• Capitol Health Limited: Australian diagnostic imaging group operating community-based clinics. Comparable mid-scale ANZ radiology competitor with overlapping modalities and referral channels.

Others

• Volpara Health Technologies: NZ-based AI breast density software provider whose product is integrated into I-MED's mammography workflow. Adjacent technology supplier rather than direct competitor, but an important ecosystem participant for I-MED's women's imaging offering.
• Harrison.ai: Australian AI company in which I-MED holds a minority stake. Comparable as a partner/investee rather than competitor — its radiology AI capabilities are deployed across I-MED's network.

Regional players

• Akumin Inc. US-focused outpatient imaging and radiology services platform. Comparable in multi-site fixed-site imaging model but geographically distinct from I-MED's ANZ core footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/imed_network
• Facebookfacebook.com/imedcentre
• LinkedInlinkedin.com/company/i-med-network

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about I-MED Network Radiology