“This higher level of personalized service we deliver resonates much more effectively with our number one customer-the referring physician,” observed Goldschmidt. “Unlike some of our major competitors, we have institutionalized a model that has pathologists directly involved in the management of our businesses. “Sonic’s success over the past decade has been predicated on our steadfast commitment to a concept of ‘Medical Leadership’,” he explained. “Both our companies have very similar values and philosophies. Goldschmidt, M.D., CEO and Managing Director of Sonic. “I’m particularly excited about the Sonic–CPL partnership,” stated Colin S. In fact, both CPL’s corporate culture and its management talent were major motivations for Sonic Healthcare to pursue this acquisition. CPL Management To StayĬPL, with annual revenues approaching $190 million, was paid “a prospective EBITDA multiple of approximately 9.5.” The deal is expected to close by Septemand Sonic Healthcare wants CPL’s management team to remain and continue to play an active role following the sale. Under the terms of the deal, between 20, Sonic Healthcare will purchase the remaining equity from CPL management and pathologists. Sonic Health will pay approximately US$300 million to acquire between 80% and 85% ownership of CPL. It also owns and operates laboratories in New Zealand, Germany and the United Kingdom. Sonic Healthcare is the largest laboratory services company in Australia. Second, the sale of CPL brings a new and credible competitor into the U.S. This continues a trend of local pathologists selling their lab company to bigger firms. First, it means that local pathologists will no longer fully own and operate the nation’s largest, private lab company providing laboratory testing services to office-based physicians. The sale of CPL is a significant event for two related reasons. The announcement was made on Augand capped a lengthy bidding process for Clinical Pathology Labs (CPL). will acquire a majority interest in Clinical Pathology Laboratories, Inc. IN A TRANSACTION SURE TO ROIL the competitive lab testing marketplace, Australia-based Sonic Healthcare Ltd. market and is likely to trigger significant changes to the status quo.
The acquisition brings a new lab competitor into the U.S. are selling up to 85% of their lab company to Sonic Healthcare, Ltd, Australia’s largest laboratory firm. Pathologist-owners of Austin, Texas-based Clinical Pathology Laboratories, Inc. The technicians deal painlessly.CEO SUMMARY: It’s one of the most interesting lab acquisitions to take place in the past decade. The front desk staff greet me when I walk in and are friendly and helpful each time I am here. I started coming to this lab for all my blood work a few months ago. The only location I go to! They have plenty of parking and easy to access from road. I then felt lightheaded & mentioned I would need to sit. But they checked me in within 5 minutes & called me back 5 mins later. This place is awesome!! I've been to labs I've had to wait hours at. I was really nervous but it didn't hurt at all :) Grace at the front desk was great as well. Very fast service, and Brenda was friendly and drew my blood fast. The Georgetown location is by far and away better than those in. I have been using CPL labs for many years. Unfortunately, I have to have bloodwork drawn 3-4 times a year.
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