Australia's Sonic Healthcare eyes best day in 3 months on acquiring Swiss lab network

Synlab AG

27/06/2023 02:12

** Australia's Sonic Healthcare Ltd  SHL.AX  rises as much
as 2.8% to A$35.690 - set for best day since March 27, if gains
hold 
    ** Medical diagnostics firm says entered into a deal to
acquire SYNLAB Suisse SA, Swiss laboratory network of SYNLAB
Group  SYAB.DE , for 150 mln Swiss Francs ($167.37 million)
    ** SHL says deal will add to earnings per share from 2024
and the return on invested capital will exceed Sonic's cost of
capital within two years of acquisition
    ** Sonic will fund the acquisition with existing cash and
debt facilities
    ** Stock had risen 15.8% this year, as of last close

($1 = 0.8962 Swiss francs)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))