HgCapital Trust partially sells Intelerad Medical to TA Associates

(Alliance Trust) - HgCapital Trust PLC on Thursday said it is partially selling Intelerad Medical Systems Corp to TA Associates Management LP, a Boston-based global growth private equity firm.

The transaction values HgCapital's investment in Montreal-based provider of enterprise medical imaging solutions Intelerad at about GBP87.1 million, the London-based investment firm explained.

The transaction, which needs regulatory approval, "would represent an uplift of GBP10.8 million over the carrying value of GBP76.3 million in the net asset value of HGT at March 31, 2022," the firm added.

The sale is expected to close in the third quarter of 2022.

HgCapital shares were 0.8% higher at 315.00 pence each in London on Thursday afternoon.

By Tom Budszus; tombudszus@alliancenews.com

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