Insight Health Corp. completed the acquisition of Center for Diagnostic Imaging, Inc. from Onex Corporation and its fund Onex Partners, L.P. and other shareholders for $91 million.
July 25, 2012 at 12:00 am EDT
Share
Insight Health Corp. agreed to acquire Center for Diagnostic Imaging, Inc. (CDI) from Onex Corporation (TSX:OCX) and its fund Onex Partners, L.P. and other shareholders on June 8, 2012. Black Diamond Capital Management, L.L.C., through investment funds that collectively own a majority interest in Insight, will lead an investment in Insight. Tom Tomlinson, current Chief Executive Officer of CDI will become the combined company's new Chief Executive Officer. Robert Baumgartner will be Executive Chairman of the Board of the combined company. Kip Hallman, Chief Executive Officer of Insight Health Corp., will stay with the organization through the finalization of the merger in July, 2012. The combined company will be headquartered at CDI's current offices in Minneapolis. The deal is subject to antitrust regulations. The transaction is expected to close in July. As of July 9, 2012, the transaction was granted early termination of waiting period under the Hart-Scott-Rodino Act by Federal Trade Commission. FocalPoint Partners LLC acted as financial advisor to the Board of Insight Health Corp. Joel Greenberg, Nancy Fuchs, Claudia Higgins, Jeff London, Louis Tuchman, Peter Danias, Aaron Gardner and Tess Fang of Kaye Scholer acted as legal advisors for Onex. Jones Walker LLP acted as legal advisor for Insight. Ashby-Geddes P.A. acted as legal advisor for Board of Directors of Insight.
Insight Health Corp. completed the acquisition of Center for Diagnostic Imaging, Inc. (CDI) from Onex Corporation (TSX:OCX) and its fund Onex Partners, L.P. and other shareholders for $91 million on July 25, 2012.
Onex Corporation, together with its subsidiaries, manages and invests capital in its private equity funds, private credit strategies and liquid strategies on behalf of shareholders, institutional investors, and high net worth clients. The Company operates in two segments: Investing and Asset management. Investing segment and Asset management. Investing segment engaged in the activity of investing Onexâ capital. Asset management segment comprises the asset management activities provided by Company to support its private equity and credit strategies, as well as its corporate functions. Its two primary businesses are Private Equity and Credit. In Private Equity, it raises funds from third-party investors, or limited partners, and invests them, along with its own investing capital, through the funds of its private equity platforms, Onex Partners and ONCAP. In Credit, it raises and invests capital across several private credit, public credit, and public equity strategies.
Insight Health Corp. completed the acquisition of Center for Diagnostic Imaging, Inc. from Onex Corporation and its fund Onex Partners, L.P. and other shareholders for $91 million.
ONEX CORPORATION 
