“Divesting the SYNLAB VET business, which accounted for less than 1% of the total Group revenue in 2022, is consistent with our increased focus on core operations,” said Mathieu Floreani, CEO of SYNLAB Group. “We are convinced that SYNLAB VET will further thrive as part of the Mars organisation. Our highly talented SYNLAB VET colleagues in Belgium, Germany and Spain have made an important contribution to veterinary healthcare for many years. We are very grateful for this, and we have no doubt they will continue to succeed also in their new environment.”
SYNLAB is following the outlined strategy to actively manage and optimise its portfolio of operations to improve the Group’s performance and enable efficient use of capital as well as future-proof healthcare. The portfolio review is performed throughout all levels, including countries, activities, entities, contracts or customer groups. Further examples have been the sale of the veterinary business in the United Kingdom and Ireland in 2022 or the recent sale of the Group’s operations in Switzerland offset by ongoing M&A activities to increase the network density and resulting use of synergies.
With the sale of its veterinary business, SYNLAB will be in an even better position to provide customer centric medical excellence for routine and specialty diagnostics in human medicine.
