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Sonic Healthcare Ltd To Acquire German laboratory Business Of Labco

Wednesday, 25 Sep 2013 09:50pm EDT 

Sonic Healthcare Ltd announced that it has reached binding agreement to acquire the German laboratory business of Labco S.A. The Labco German business has annual revenue of approximately EUR53 million and operates five wellestablished laboratories in the West and South-West of Germany. The total purchase price of EUR76 million (cash & debt free) will be funded in Euro from Sonic’s existing cash and debt facilities. The acquired business will be rapidly integrated into the organisational and operational structure of Sonic Healthcare Germany and synergies, which have been conservatively forecast, will be realised progressively through the first year of ownership. The transaction will be immediately earnings per share accretive and will be accretive to Sonic’s return on invested capital once synergies have been achieved. The transaction is expected to complete by the end of the calendar year. 

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0.22 +1.08%
31 Jul 2015