News Article

Leading mid-market private equity group Duke Street is acquiring mobile rental solutions and pre-owned imaging equipment and spare parts supplier AGITO Medical from Philips. The Candesic team led by Senior Partner Marc Kitten and supervised by Engagement Manager Fabio Ruffinoni and Senior Engagement Manager Kristoffer Kenttä provided commercial due diligence to Duke Street.

Founded in 2004, AGITO offers hospitals and clinics a flexible and tailored rental service of mobile imaging equipment across CT, MR, and cath labs, with or without additional services such as staffing.

Since Philips acquired AGITO in 2018, the business has grown significantly and expanded its operations to multiple international markets, delivering rental solutions across numerous countries, including Germany, France, Ireland, and the UK. AGITO is one of Europe’s top three medical imaging rental businesses.

James Almond, managing partner at Duke Street, said: “We are very pleased to acquire AGITO, a market-leading business that we believe represents a significant opportunity for Duke Street and our investors. Our investment in AGITO represents a classic Duke Street deal: a carve-out from a globally recognised business, acquisition of an excellent healthcare product and a talented team that we back, fuelled by an investment programme that will create value for all.

“This business has great potential to scale further and cement its position as a core partner to public and private health systems across Europe.”

The deal is expected to close in Q3.

Candesic offers a wide range of services including strategic consulting, commercial due diligence, digital consulting and tech-enabled strategic planning. To find out more, email [email protected].