Project Description


I-MED was part of failed private equity LBO. By 2011 I-MED was significantly over geared and in breach of bank covenants.

Majority of I-MED debt had been acquired by c.30 hedge funds with the company at risk of a high-profile corporate collapse.

Two key doctor partnerships had issued termination notices to leave the network, increasing the pressure for a restructure.


Established a warehouse to facilitate a consensual sale and prevent a receivership which would have led to a loss of hospital contracts.

Allegro executive appointed as interim CEO during restructure.

Successfully negotiated a JV agreement and a staged sale with the doctor partnerships that were at risk.

Worked closely with the doctors and management to agree a new strategic direction for the company.

Following financial restructure, a new board of directors, CEO and CFO were appointed.


The consensual restructure saved I-MED business from a receivership and total collapse.

Since Allegro’s involvement, I-MED significantly increased earnings and the debt was restructured down to manageable levels.

In Dec-13 all remaining hedge fund debt was refinanced with longer term core debt.

In Mar-14 I-MED was sold to EQT partners generating strong returns for Allegro.