Infratil is forecasting a "mid-teen" internal rate of return from Kao Data.
The $280 million development has tentative support from locals, who see the benefits but didn't realise it would be so big.
Infratil has already enjoyed considerable success in investing in data centres following its 2016 purchase of a stake in Canberra-based CDC Data Centres.
The combined radiology business could lead to enhanced services including new services and better after-hours services.
Infrastructure Editor
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articles by Oliver