Pathology and radiology provider giant Sonic Healthcare has agreed to buy one of Germany’s biggest medical laboratory groups for $700 million, the latest in a string of acquisitions to grow its European business as earnings recover from a post-pandemic slump.
Sonic said on Monday it would issue €222 million ($367 million) in new shares to acquire Laboratory Group Dr Kramer & Colleagues, with the balance funded through cash.
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Michael Smith is the Health Editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
