German laboratory group Amedes nearing sale, Omers Infra seen in lead -sources

Synlab AG

28/07/2021 10:22

By Arno Schuetze
    FRANKFURT, July 28 (Reuters) - German laboratory group
Amedes is nearing a sale and Canada's Omers Infrastructure is
seen in the lead to buy the firm whose business has boomed in
the COVID-19 pandemic, people close to the matter said.
    Final bids are due on Wednesday and European investor Groupe
Bruxelles Lambert is also expected to submit an offer, they
said, adding that a decision on the buyer was expected in
August. 
    Omers and GBL declined to comment, while Antin was not
available for comment.
    Amedes' majority owner, French infrastructure investor
Antin, put the company up for sale earlier this year. It bought
the firm in 2015 from buyout group General Atlantic at a
valuation of about 800 million euros.
    Amedes has annual core earnings of more than 100 million
euros and could be valued at 12-14 times that or 1.2-1.4 billion
euros in a potential deal, sources close to the matter have said
in the past.
    Rivals such as Synlab  SYAB.DE , Sonic  SHL.AX , Quest
Diagnostics  DGX.N  and LabCorp  LH.N  trade at 7-9 times their
expected core earnings.
    Amedes operates laboratories at 90 sites in Germany,
Belgium, Austria and Dubai, employing about 4,000 staff and
treating 450,000 patients a year.
    The company processes so-called PCR tests for the
coronavirus as well a wide variety of medical tests for
patients, doctors and hospitals, including oncological, genetic,
microbiological and pathological tests.
    It was founded in 1987 and has since grown through a string
of acquisitions. 
    ($1 = 0.8469 euros)

 (Reporting by Arno Schuetze; editing by Jason Neely)
 ((arno.schuetze@thomsonreuters.com; +49 30220133648;))