SYNLAB agrees to sell Analytics & Services business to SGS
SYNLAB, the leading medical diagnostic services provider in Europe, announces the signing of an agreement to sell its Analytics & Services (A&S) unit to SGS, the world’s leading inspection, verification, testing and certification company. The proceeds of the sale will remain in the group for future use.
A&S is a leading European provider for environment, food, hygiene, pharma and products analysis and testing. In 2019, A&S generated sales revenues of more than EUR 200m and had approximately 2,000 employees.
With more than 89,000 employees, SGS operates a network of more than 2,600 offices and laboratories around the world. As part of a larger group focusing on similar market segments, A&S will be able to benefit from scale and leverage new opportunities for future growth. At the same time, the transaction enables SYNLAB to fully concentrate on expanding its core medical activities.
Mathieu Floreani, CEO of SYNLAB Group: “The transaction creates great opportunities for all involved. While SYNLAB is concentrating on its core medical activities, A&S will benefit from new growth prospects with a future owner that is an expert and leader in that specific market segment. We are convinced that we have found an excellent new home for the business and its employees.”
Sytze Voulon, CEO SYNLAB Analytics & Services, adds: “By joining forces with SGS, new growth opportunities are opening up for A&S. As part of the market leader in the fields of inspection, verification, testing and certification, we will be able to leverage existing resources and further strengthen our business.”
The transaction is subject to customary regulatory approvals and closing of the sale is expected by early first quarter of 2021 at the latest.
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