Sonic signs laboratory JV with ProMedica Health System

Company News

by Rachael Jones

Sonic Healthcare (ASX:SHL) has signed agreements to enter into a laboratory joint venture with ProMedica Health System.

Whilst not a material transaction for Sonic, the formation of the JV will be another positive step in Sonic’s ongoing hospital laboratory partnership growth strategy.

ProMedica is a nationally recognised not-for-profit healthcare network based in Toledo, Ohio.

ProMedica’s network includes more than 70,000 employees across 30 states in the US.

Sonic will contribute its laboratory business based in Ohio into the JV and ProMedica will contribute its existing outreach/community laboratory business and certain hospital inpatient testing.

Sonic Healthcare (ASX:SHL) closed 0.80 per cent higher to $26.38 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.