Sonic Healthcare to Pay $132 Million for Swiss Lab Group
By Stuart Condie
SYDNEY--Sonic Healthcare agreed to pay 117 million Swiss francs (US$131.7 million) for Switzerland's Dr Risch lab group in a deal that the Australian pathology provider said will be earnings-per-share accretive from 2025.
Sonic on Wednesday said that it would issue shares worth CHF30 million and pay the remainder in cash, funding the transaction from existing cash and debt facilities.
The return on invested capital will significantly exceed its cost of once infrastructure and operations savings are achieved, it said.
Sonic expects the acquisition of Dr Risch, which employs about 650 staff across 13 Swiss labs and one in Liechtenstein, to close by March 31.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
March 19, 2024 18:27 ET (22:27 GMT)
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