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Sonic Healthcare buys German lab group

AAP logoAAP 4/11/2016

Sonic Healthcare will pay 120 million euros ($A173 million) for a chain of German pathology labs it says will boost earnings by three to four per cent.

The laboratory, radiology and medical centre operator will fund the acquisition of the Staber Laboratory group with existing cash and debt facilities, and expects the addition of three hub laboratories and 14 smaller labs across Germany to be earnings accretive in the first year, with further savings as they are integrated into its existing operations.

Sonic shares were up 45 cents, or 2.3 per cent, higher at $20.37 at 1132 AEDT in a weaker market.

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