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Objective NMIG plans to
acquire and build general practice and radiology businesses.
The group has acquired the general practice and radiology assets of
Gribbles. This has positioned NMIG as the largest provider of
general practice services in Victoria and the second largest in
Western Australia. Gribbles have retained an
ongoing 25% interest in the medical centre assets.
The group is funded by management, venture capital and senior bank
debt. Strategy The group
will grow the businesses. There are a range of assets that are
under-utilised. These facilities will be backfilled with the
addition of individual or small groups of doctors. There are a range
of smaller assets that require redevelopment. The existing doctor
base will be leveraged in these areas, with surrounding doctors to
develop new large custom built facilities. The group will
concentrate on building critical mass within individual geographic
suburbs and then support these facilities with a custom built
comprehensive radiology practice. NMIG’s strategy
varies from existing players in two key areas:
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NMIG will focus on building clusters of medical
practices to gain localised market share and will then utilise this
local focus to maximise the range of services offered to the medical
centres.
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NMIG will focus on aligning the goals of the
management company and key practitioners through a combination of
profit and equity incentives.
Practitioner Independence
NMIG will provide management services to the doctors and
radiologists in the group. The group will establish a medical
advisory board to guide the Directors on best practice delivery of
medical services. The advisory board will include
doctors and radiologists’ representatives, an independent medical
director and other experts as required.
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