Sonic Healthcare (ASX:SHL) has signed binding agreements to acquire SYNLAB Suisse SA, the Swiss laboratory network of SYNLAB Group.
Sonic said SYNLAB Suisse is expected to generate annual revenues of $167M and employs around 1600 staff across 19 laboratories.
It also said it's one of the few laboratory groups with coverage of all three Swiss language regions and provides services to GP, specialist, and hospital clients across the full range of routine and speciality laboratory medicine.
Sonic Healthcare shares are up 3% in early trading.