We have developed an analytical model for the implosion of a heavy ion beam driven multilayered cylindrical target. The target consists of a thick metallic shell, typically made of lead which is filled with a low density material, for example frozen hydrogen, and it is axially irradiated with a heavy ion beam with an annular focal spot. The model describes the expansion of the absorption region, the implosion of the pusher, the trajectories of the incident and reflected shocks and the final quasi-isentropic compression. The model is expected to be very helpful to optimize detailed simulations of such problems which are of close relevance to the GSI plasma physics experimental program, planned for the future upgraded accelerator facilities.