Australian pathology services provider Sonic Healthcare Ltd. agreed to pay 190 million euros (US$206.0 million) to acquire German laboratory chain Diagnosticum.
Sonic on Monday said that founder-led Diagnosticum, which operates 15 laboratories and employs 25 pathologists, is expected to generate 65 million euros of revenue in the 2024 fiscal year. Sonic reported 4.08 billion Australian dollars (US$2.73 billion) of revenue in 1H of fiscal 2023.
As part of the acquisition, all the partners and a senior team at Diagnosticum will be transferred to Sonic and will be operated as part of the federation of Sonic laboratories in Germany.
The transaction is expected to be completed by the end of this year, subject to customary closing conditions, including medical regulatory approvals.
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