Sonic completes acquisition of GLP
Tuesday, 02 September, 2008
Sonic Healthcare [ASX: SHL] has completed the acquisition of the German GLP Medical Group.
The deal, first announced in June, sees Sonic taking control of a company which employs some 250 staff, and an expected EBITDA of around $3.5 million for the 2008/09 financial year.
Sonic and GLP have a history of collaboration due to the proximity of the GLP labs to the Sonic-operated Bioscientia Healthcare and the Schottdorf group laboratories, all of which are located in Hamburg.
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