CareHub acquires Centro Diagnostico Moscardi, Diagnostica Moderna and Fisiomedical

Three new add-ons for the Silver Economy Fund portfolio company as it accelerates its growth in the outpatient diagnostics sector and aims to create a €100 million-revenue group

Today CareHub finalized, through the holding firm Brexia Med S.r.l., three new acquisitions, expanding its group to a total of six acquired companies and ten multi-speciality outpatient clinics, in the Friuli-Venezia Giulia, Abruzzo, Umbria and Tuscany regions of Italy. More specifically, CareHub is now present in Abruzzo thanks to the acquisition of 91% of the share capital in Centro Diagnostico Moscardi S.r.l. ‒ a key player in imaging diagnostics in the L'Aquila area ‒ and 100% of Diagnostica Moderna S.r.l., a clinic based in Vasto. It has also strengthened its presence in Umbria by acquiring 70% of Fisiomedical S.r.l., which has three multi-speciality clinics, focusing primarily on physiotherapy and rehabilitation, in the towns of Perugia, Città di Castello and Umbertide.

These add-ons go to accelerate the investment strategy adopted by CareHub, which has been a Silver Economy Fund portfolio company since 2024. The project aims to develop an integrated network of outpatient and multi-speciality facilities to become a leading player in diagnostics. The intention is for the network to fully respond to the growing demand the private local healthcare sector is experiencing in Italy ‒ a trend also driven by an aging population, the prevalence of chronic diseases and a heightened focus on preventive health care. The goal is to create a €100 million-revenue group to stand out as a benchmark in the sector, thanks also to an integrated network of outpatient and multi-speciality clinics. The company expects to sign further acquisitions by the end of 2025, for a total turnover of €28 million. The acquisitions are aimed at consolidating business in the current regions as well as expanding into others. In keeping with the 'buy & build' strategy deployed by the management, 95% of Cormedica in Friuli was acquired in 2024, 100% of Cormedica in Umbria in May 2025, and 70% of Istituto Radiologico Valdarno in Tuscany in June of this year.

Silver Economy Fund ‒ the Quadrivio Group vehicle that invests in companies offering products and services for the Silver Age ‒ currently has four other companies in its portfolio: Siare, which designs and manufactures electromedical equipment for anaesthesia and resuscitation as well as accessories for pulmonary ventilation; The Private Clinic, a group of cosmetic medicine and dermatology clinics based in the United Kingdom; MIR, a key player in spirometry; and Biotec, a leading manufacturer of devices for aesthetic medicine.

The Moscardi, Diagnostica Moderna and Fisiomedical acquisitions were managed by the Silver Economy Fund investment team, led by Dario di Iorio – Senior Investment Manager at Silver Economy Fund.

Alessandro Binello, Group CEO of Quadrivio Group and Managing Partner at Silver Economy Fund, commented on the operation: “The three new acquisitions confirm the group's Buy & Build strategy and further strengthen Carehub's competitiveness and presence in Italy. We continue to work towards creating a key player in the diagnostics and outpatient services segment. Our aim is to establish a large group with a €100 million turnover."

For Gianluca Santoro and Alessandro Bartucci, Directors at Brexia Med S.r.l., “The recent Moscardi, Diagnostica Moderna and Fisiomedical acquisitions enable CareHub to further strengthen its presence in central Italy, and to consolidate development of a network of healthcare facilities rooted in this area and capable of offering people excellent diagnostics services.”

The three recent transactions were financed not only through internal resources but also with an acquisition debt facility provided by Clessidra Private Debt Fund and Green Arrow Private Debt Fund II.

With regard to the financing operation, Lincoln International acted as debt advisor to CareHub, Chiomenti supervised the legal aspects, and Spada Partners managed fiscal matters. Pedersoli was legal advisor to Clessidra and Green Arrow Capital. LAS acted as placement agent.

Bird & Bird assisted CareHub in the legal aspects connected with the Fisiomedical deal. PWC conducted the financial, legal and tax due diligence for all three acquisitions. The Moscardi and Diagnostica Moderna sellers received legal assistance from Lepidi & Associati of L’Aquila. The Fisiomedical sellers were assisted by the Mariotti law firm of Città di Castello. Notary aspects were seen to by Restuccia & Stucchi of Milan.