Nouvelles et évènements

Canada Diagnostic Centres and Novacap partner to accelerate the national expansion of one of Canada's largest medical imaging groups

July 06, 2021

MONTREAL, July 6, 2021 /CNW Telbec/ - Novacap, one of Canada's leading private equity firms, today announced it has invested in Canada Diagnostic Centres (CDC), an Alberta-based provider of medical imaging services, and one of the largest companies of its kind in Canada. Novacap intends to support CDC's goal to expand its services from coast to coast, reinforcing their reputation as a leading diagnostic imaging provider in Canada. 

MONTREAL, July 6, 2021 /CNW Telbec/ - Novacap, one of Canada's leading private equity firms, today announced it has invested in Canada Diagnostic Centres (CDC), an Alberta-based provider of medical imaging services, and one of the largest companies of its kind in Canada. Novacap intends to support CDC's goal to expand its services from coast to coast, reinforcing their reputation as a leading diagnostic imaging provider in Canada. 

With a total of 18 outpatient clinics in Alberta and British Columbia, CDC provides care during 500,000 patient-visits annually for such services as ultrasound, mammograms, X-rays, MRI, CT scans, and image-guided pain management. Thanks to a sophisticated physician-led management team, the Centres have a robust operation in the competitive Alberta landscape.

CDC's leadership and shareholders will remain in place, leveraging the investment from Novacap to pursue their goal of providing patients throughout Canada with access to top level care and technology.

"I am incredibly proud of the high-quality patient care provided by my colleagues at CDC, including my fellow physicians, our superb team of technologists, and many other valued staff. We are very pleased to have Novacap recognize and support this work, and help us to extend the reach of this commitment to exceptional patient care further into other provinces and across Canada" said Dr. Robert Davies, Medical Director and CEO, CDC.

"Such an investment opens new doors and turns our ambitions into tangible objectives. We plan to start looking for great partners in other provinces who share our vision for quality, timely access to these services, and are interested in being part of a national collaboration of professionals making positive differences in patients' lives," said Lorne Paperny, President and Founder, CDC.

Novacap shares CDC's vision to create a physician-led national champion in diagnostic imaging and image-guided procedures.

"Today we announce a significant partnership with these exceptional radiology clinics. Our teams are committed to making CDC's vision come to life and to build its Canada-wide practice from their headquarters in Calgary," said Marc Paiement, Senior Partner, Novacap. "This marks Novacap's third investment in Alberta in the last 12 months and reaffirms our interest in growing partnerships in Western Canada," he added.

"Our investment in CDC is Novacap's second into the growing and diverse medical imaging sector," said Heather Shantora, Principal at Novacap, overseeing healthcare operations.  "With the health care needs of Canadians continuing to grow over time, we believe that every province can benefit from CDC's high standards of quality and service."

Deloitte acted as the advisor for CDC.