ACCC Opposes Australian Clinical Labs Healius Merger

Australian Clinical Labs intends to withdraw its takeover offer for Healius after opposition from the Australian Competition and Consumer Commission. The ACCC concluded the acquisition would likely substantially lessen competition in Australian pathology services markets. The ACCC considered current competitors, including narrow-moat Sonic Healthcare, and believes it is unlikely that a new or existing provider could enter or expand in a timely way and to a scale sufficient to address the potential loss of competition.