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Australian Company To Buy Medical Lab GroupSYDNEY, Australia, Friday, July 6 — Sonic Healthcare Ltd., Australias top pathology group, said Friday it had agreed to buy Sunrise Medical Laboratories, based in Hauppauge, N.Y., for up to $168 million. The purchase price will be $148 million, as well as up to $20 million based on achievement of certain revenue growth targets and on maintenance of EBITDA margins in the year after the closing of the deal. The acquisition of Sunrise represents an important strategic step for Sonic Healthcare in its expanding U.S. laboratory operations, Colin Goldschmidt, managing director of Sonic, said in a statement. Sunrise is a full-service clinical laboratory that has annual revenues of about $75 million and has more than 360 staff members. It operates in the New York metropolitan area and Long Island, and has about a 6 percent share of the local market. The deal is expected to be completed in early August, subject to United States antitrust approval. Tag CloudExternal InformationAdditional InformationNew court ruling bolsters Barclays in Enron battle...The new Peter principle: get on the broadband wagon... Three Natural Gas Traders Convicted in Texas... Federal Reserve not in thrall to the Masters of the Universe... Where Am I?News Main Page - Business - Australian Company To Buy Medical Lab Group |
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