Black Spade Capital, the family office of Melco Resorts & Entertainment Chairman and CEO Lawrence Ho, has added Hong Kong-based diagnostic imaging practice iRad Medical Holding Limited to its investment portfolio.
The acquisition sees Black Spade Capital become majority shareholder in iRad, which operates four radiology clinics across Hong Kong with a combined workforce of close to 100 radiologists, radiographers, nurses and supporting staff members.
Those operations are likely to grow, however, with the investment firm stating it plans to work closely with iRad management on strategies for its development and market expansion.
“We are very pleased with the acquisition,” said President and CEO of Black Spade Capital, Dennis Tam. “According to research conducted by Frost & Sullivan, iRad is the largest specialist medical imaging group in Hong Kong, based on revenue and market share. The growing expectations of the general public for reliable medical services present favorable opportunities for the private healthcare sector. We therefore see tremendous growth potential in iRad and will look forward to witnessing synergies between iRad and the other investments in our portfolio.”
Black Spade Capital was founded by Lawrence Ho in 2017 and manages his personal wealth.
