Sonic Healthcare: Expands Swiss footprint with bolt-on
About the author:
- Author name:
- By Dr Derek Jellinek
- Job title:
- Senior Analyst
- Date posted:
- 28 June 2023, 7:00 AM
- Sectors Covered:
- Sonic Healthcare (ASX:SHL) is acquiring Switzerland-based Synlab Suisse for CHF150m (cA$250m) funded via existing CHF cash and debt.
- Synlab Suisse employs c600 staff across 19 laboratories, offers the full range of routine and specialty laboratory testing and has an estimated annual turnover of cCHF100m (cA$165m).
- Swiss regulators have greenlighted the deal (closing 3 Jul-23), with the transaction expected to be EPS and ROIC accretive from CY24 and within two years, respectively, with improved return metrics expected post-synergies.
- We have adjusted FY24-25 estimates, with our target price increasing to (login to view). Add rating maintained.
Find out more
Download full research note
If you would like more information, please contact your adviser or nearest Morgans office.
Request a call
Find local branch
Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.
Print this page