Canadian private equity fund Onex Partners has signed an agreement to purchase imaging center operator Center for Diagnostic Imaging (CDI) in a transaction valued at approximately $181 million.
Onex Partners and sister firm Onex, a service, manufacturing, and technology conglomerate, will invest approximately $74.8 million in the equity of the business for an approximate 84% interest in the Minneapolis-based firm. CDI's management team, the company’s founder, and physician shareholders will continue to maintain an ownership interest.
Founding shareholder and chairman Dr. Kenneth Heithoff will remain medical director and chairman. The acquisition is subject to customary terms and conditions, including regulatory approvals, and is expected to be completed in December.
By AuntMinnie.com staff writers
November 1, 2004
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Merge signs CDI, July 29, 2003
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