Sonic Healthcare

Sonic Healthcare Limited is an Australian company that provides laboratory services, pathology, and radiology services.[2]

Sonic Healthcare Limited
TypePublic
ASX: SHL
IndustryHealth – Medical Diagnostics
Founded1987. Parts of the company have operated for many decades
HeadquartersSydney, New South Wales, Australia
Key people
Dr Colin Goldschmidt (CEO, Managing Director)
ProductsPathology/laboratory medicine and Imaging/radiology
Revenue A$6.2 billion (2019)[1]
Number of employees
37,000
Websitewww.sonichealthcare.com

The Sydney-based company has its roots in the pathology practice of Douglass Laboratories, and since has become one of Australia's largest diagnostic companies. It has a presence in Australia, New Zealand, United States, United Kingdom, Germany, Switzerland, Belgium and Ireland. It is the largest medical laboratory provider in Australasia and Europe and the third largest in the US, it employs over 37,000 people.[3]

It was listed on the Australian Stock Exchange in 1987 as Sonic Technology Australia Ltd. The company changed its name to Sonic Healthcare Ltd in 1995.[4] It is now part of the S&P/ASX 50, and is one of the largest medical companies listed on the ASX, CSL Limited, Cochlear and ResMed being the only other listed medical companies of comparable size. The company strategy is growth by acquisition of overseas companies. With many critiques arguing that such a strategy can lead to over diversification, yet has seemingly worked well to expand its business[5] There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. The firm has diversified its revenue base with moves offshore from Australia.

Annual Revenues for Financial Year to June 30, 2019 exceeded A$6.2 billion.

Dr Colin Goldschmidt is the CEO and Managing Director.

Acquisitions
  • Medisupport, based in Switzerland, July 2015
  • KLD in Belgium, July 2015
  • the laboratory business of Central Coast Pathology Consultants (“CCPC”), a high quality laboratory in California, USA, February 2011
  • Physicians’ Automated Laboratory (“PAL”), based in Bakersfield, California, USA, January 2011
  • KBL-BML-Unilabo Laboratory (“KBL”), based in Antwerp and the Woestyn Laboratory, based in Mouscron, January 2011
  • US pathology firm CPL-Clinical Pathology Laboratories for $US123.5 million (A$121.5 million).[6]
  • Bioscientia Healthcare Group based in Ingelheim, Germany, August 2007[7]

References
  1. http://investors.sonichealthcare.com/investors/?page=annual-reports
  2. "3 cheap healthcare shares worth buying today". Motley Fool Australia. 25 October 2017. Retrieved 6 June 2018.
  3. http://www.sonichealthcare.com/media/95803/1463156.pdf
  4. "History". Sonic Healthcare.
  5. Greenblat, Eli (24 February 2010). "Profits rise but Sonic disappoints". Sydney Morning Herald. Retrieved 1 May 2010.
  6. "Sonic Healthcare acquires US pathology firm". created acquisition section. Business Spectator. Retrieved 8 November 2010.
  7. "Bioscientia a member of SONIC HEALTHCARE". Retrieved 18 April 2017.
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