Focus Financial Partners has agreed to buy Melbourne-headquartered wealth manager Mediq Financial Services for an undisclosed sum.
Mediq was founded by Ravi Agarwal in 2010 and offers tax, accounting, financial planning, insurance, investment management, legal and practice advisory to the medical community across Australia.
In conjunction with the deal, Mediq will expand its leadership team by adding two partners – Mina Andrawis and Paul Pun – who will respectively lead the wealth and legal, and accounting and taxation teams.
Rudy Adolf, founder, chief executive and chairman of Focus, said: “Mediq will expand our Australian presence and add a specialist partner whose unique value proposition will enable it to capitalise on opportunities in an attractive and growing market.
“Expanding our international presence is an important component of our growth strategy and a source of further diversification.”
The transaction is expected to close in the second quarter of 2020, subject to regulatory approval.
