Adding Incremental Scale in Germany with Acquisition of Staber; Sonic Remains Undervalued
Narrow moat-rated Sonic Healthcare has signed binding agreements to acquire the German Staber Laboratory group, based in Munich, Germany for EUR 120 million, further consolidating its market leadership position in Germany. Funding will be in euro from Sonic’s existing cash and debt facilities. Germany currently represents the most important market for Sonic in Europe and contributed AUD 914 million, or 18% of group revenue, in fiscal 2016.Based on previous transactions, we assume the deal consi...
Sonic Healthcare is involved in the provision of medical diagnostic services and the provision of administrative services and facilities to medical practitioners. Co. provides specialized pathology/clinical laboratory and diagnostic imaging services to clinicians, hospitals, community health services, and their patients. Co.'s segments are comprised of: Laboratory, which provides Pathology/clinical laboratory services in Australia, New Zealand, the U.K., the U.S., Germany, Switzerland, Belgium and Ireland; Imaging, which provides diagnostic imaging services in Australia; and Other, which Includes medical center operations and occupational health services.
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