When I saw that Image Plus Consultants drop over half a billion dollars pon acquisitions? I knew this expansion was serious.
Image Plus Consultants, which operates as Apex Radiology, has been growing quickly. The company recently spent $620 million acquiring other businesses and expanding its reach across Jamaica.
So, what exactly did it buy—and is the investment paying off?
On May 1, Apex acquired Island Radiology, adding three locations: Eight Rivers Town Centre in Ocho Rios, Caledonia Mall in Mandeville and Oasis Plaza in Santa Cruz.
That followed its purchase of The Woman’s Place in Kingston last year.
Apex now has eight locations across Jamaica, making it one of the country’s largest diagnostic-imaging providers. This is where you go for stuff like X-rays, ultrasounds, MRIs and other medical scans.
It’s also the only private provider of MRI and bone-density scans in central Jamaica.
And the expansion is already bringing in more business.
For the three months ending May 2026, revenue increased by nearly 32 per cent to over 350 million. That means the company brought in about $85 million more than it did during the same period last year.
More than half of that increase came from the businesses Apex recently acquired.
The company also completed over 17-thousand scans and other procedures during the quarter. That’s nearly 30 per cent more than a year earlier.
And it wasn’t just making more money; it was keeping more of it too.
Profit before tax more than doubled, moving from about $13 million to about $32 million. Earnings per share also increased to three cents.
The company’s assets—which are everything it owns that has value—grew by a third to over 2 billion dollars.
Its debts and other financial obligations also increased because some of the money owed for the acquisitions had not yet been fully paid. However, management says it has been working to clear those balances.
So, what’s the bottom line?
Instead of building every new location from scratch, Apex bought businesses that already had locations, equipment, staff and customers. That allowed the company to grow much faster—and the latest numbers suggest the strategy is beginning to pay off.
And that’s what’s new!
Do you think buying existing businesses is the best way for Jamaican companies to grow?
