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:

  • 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.
     

  • 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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