Synlab Sells Swiss Business to Sonic Healthcare for $167.5 Million
June 27 2023 - 4:51AM
Dow Jones News
By Andrea Figueras
Synlab said Tuesday that it has sold its Swiss operations to
Australian peer Sonic Healthcare, which said it is paying 150
million Swiss francs ($167.5 million) for the business.
Munich-based Synlab, a provider of laboratory-diagnostic
services, said the deal will be positive for its adjusted earnings
margin and allow it to reduce its adjusted net debt. The sale
received the required approvals of antitrust authorities, Synlab
said.
Sonic separately said it expects the deal will be accretive to
earnings per share from next year.
For the second half of 2023, Synlab had expected revenue around
50 million euros ($54.5 million) from its operations in
Switzerland. Despite the transaction, which is expected to be
closed by July 3, Synlab's revenue guidance for the current year
remains the same at around EUR2.7 billion.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
June 27, 2023 04:36 ET (08:36 GMT)
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