Salt Lake City-based Pathology Watch has announced it has been acquired by Sonic Healthcare, headquartered in Sydney, Australia, for $150 million. Sonic will fund the acquisition from existing cash reserves and debt. The deal is expected to close in December 2023.
Sonic has called the acquisition a strategic move that will accelerate its transition to digital pathology services. While Pathology Watch is at the pre-profit stage, Sonic expects to grow its earnings-per-share and return-on-invested-capital in coming years.
Pathology Watch’s founders, management and staff will join the ASX-listed company’s U.S. and global operations.
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Source: www.techbuzz.news