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Sonic to raise stake in German firm

AAP logoAAP 7/11/2016

Pathology and radiology services provider Sonic Healthcare will expand its German operations by raising its stake in laboratory automation firm GLP Systems to 80 per cent from the current 25 per cent.

Sonic did not disclose the value for the deal but says GLP has annual revenue of about 13 million euros, with revenue and earnings expected to grow rapidly in coming years.

GLP has developed laboratory automation technology that has been installed in Sonic laboratories in Hamburg, Berlin, Brisbane and Sydney - and is also being provided to third-party laboratories in five European countries.

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