synlab Group: Market Entry in Norway and Cyprus

25.March.2015

The laboratory service provider takes another step towards Europe-wide fullrange service

Augsburg, 5 February 2015 – The synlab Group continues to strengthen its position as one of the leading European laboratory service providers with two acquisitions in Norway and Cyprus. By entering these two markets, synlab is now represented in 25 countries in Europe and Western Asia.

“These laboratory takeovers in Norway and Cyprus bring us another step closer to our goal of providing our entire portfolio of diagnostic services anywhere in Europe and at any time”, said Dr. Bartl Wimmer, CEO of the synlab Group. “Both the laboratories we have acquired and their customers will receive tangible benefits by joining a leading Europe-wide network of service providers specialised in the field of diagnostics.”

In Norway, the company took over Lab1, ranked third on the Norwegian market for medical diagnostics and with a particular focus on special diagnostics and complementary medicine. After integration as part of the synlab network, the company from Oslo will be in a position to offer its customers the complete diagnostic portfolio and expertise held within the synlab Group. Moreover, there are plans to cooperate closely with the synlab laboratories in Northern Europe to achieve continued growth and to substantially strengthen the market position in Scandinavia. In this way, synlab continues to pursue its consistent expansion strategy in Northern Europe since entering the Baltic market in 2013 and expanding in Finland over 2014.

In Cyprus, synlab acquired Medilab, the leading laboratory specialised in human medicine and domiciled in Nicosia. Here, also, the aim is to become a one-stop provider delivering the highest standards of service excellence and thereby achieving a substantial expansion in market shares.

The parties agreed to refrain from disclosing the purchase price of either transaction.

About synlab
Headquartered in Augsburg, Germany, the synlab Group is among the leading providers of laboratory services in Europe. The company caters to the entire spectrum of laboratory analyses for human and veterinary medicine as well as environmental analysis. The synlab Group has branches in 23 European countries (including Turkey), Saudi Arabia and the United Arab Emirates. Around 7000 employees, 4500 in Germany, contribute to the success of the corporate group. The synlab network comprises approximately 175 laboratories, producing roughly one million analyses per day. The group generated revenues of approximately EUR 700 million in 2013.




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Contact:
Alexander Hagen
Head of Marketing & Communication
synlab Holding GmbH
Gubener Str. 39
86156 Augsburg
Phone: +49 821 52157-670
Mobile: +49 151 124 99 845
E-Mail: alexander.hagen@synlab.com

Ralf Geißler
Director
Perfect Game Communications GmbH
Lachnerstraße 32
80639 München
Phone: +49 89 3090529520
Mobile: +49 170 9043050
E-Mail: rg@perfect-game.de

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