Australia's Sonic Healthcare Ltd. acquired anatomical pathology practice Pathologie Trier.
The pathology practice operates four laboratories in Germany and has annual revenues of about €20 million. The group provides services to approximately 30 hospitals, a large number of general practitioners and specialist physicians.
Pathologie Trier's management team, which includes its four pathologist founders, will remain unchanged following the acquisition. It is led by the group's medical director Jörg Kriegsmann.
Sonic funded the initial acquisition from its existing debt facilities and said that 25% of the total purchase price is subject to a three-year revenue-based earnout provision.
The company expects the transaction to be accretive to EPS by about 1-1.5% in the first year.