Mercapital has taken a majority stake in Recoletas Diagnostico.
Recoletas Diagnostico claims to be the largest private player in imaging diagnostics in Spain, with 33 imaging centres in the centre of the country.
The deal does not cover the entire Recoletas group, which, in total employs some 750 people and also owns seven private hospitals, making it the largest regional player private hospitals in Castile Leon.
The size of the stake, and the amount paid, have not been revealed, but the fact that Recoletas is selling now suggests that this is a debt reduction exercise for Recoletas.
Mercapital reckons the imaging diagnostics market is worth €800-1bn, of which the private sector accounts for a third.
It says the sector is growing at 5% a year, with PT scans rising by more than 15%, and adds that the public sector is increasingly willing to outsource.
Mercapital expects Recoletas Diagnostico sales to reach €40m in 2009 - it plans to scale up and move into other regions.
Our analysis: Mercapital is probably the most experienced private equity investor in healthcare in Spain.
Note that it sold USP to Cinven with perfect timing in August 2007.
Alliance Medical seems to be the only other major player in imaging, with a few centres and some mobile units.
