Sonic Healthcare to snap up Aurora Diagnostics USA, launches A$600m placement

Company News

by Anna Napoli

Sonic Healthcare (ASX:SHL) is set to acquire US pathology services company, Aurora Diagnostics for US$540 million.

The acquisition will be funded by a A$600 million fully underwritten institutional placement as well as a fully underwritten bridge facility.

The company says the purchase will transform its US business, providing it with a strategic national footprint and platform that adds significant scale )and extends Sonic's existing presence in anatomical pathology.

Sonic expects the acquisition to be about 3 per cent EPS accretive post-placement on a pro-forma FY19 basis (before any revenue and cost synergies)

Shares in Sonic Healthcare (ASX:SHL) are currently in a trading halt and last traded at $21.39.