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.