Sonic acquires in Germany

Sonic Healthcare‘s share price increased 3% after the company announced that it was buying five pathology laboratories in southwest Germany for €76m (around $110m at current exchange rates) with a mix of cash and debt. The labs are being sold by Labco, one of Europe’s largest diagnostics providers, which is withdrawing from Germany altogether. As we discussed in Sonic Healthcare: Result 2013 on 20 Aug 13 (Hold – $15.41), the German government reduced the insurance reimbursement funding pools by 10% last October to curb runaway healthcare costs. We expected this funding pressure to benefit Sonic at the expense of...

Sonic Healthcare‘s share price increased 3% after the company announced that it was buying five pathology laboratories in southwest Germany for €76m (around $110m at current exchange rates) with a mix of cash and debt.

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