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news.Australia-based Sonic Healthcare Limited has acquired 100% of American Clinical Services, which will become part of Sonic's existing New York-based business, Sunrise Medical Laboratories.
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James Hutchinson and his team will remain in senior management roles in the combined Sunrise/American Clinical Services (ACS) business.
The ACS transaction follows on from the recently completed acquisition of Woodbury Clinical Laboratory, based in Lebanon, Tennessee. The total of the (debt & cash free) purchase prices for the two businesses is $33 million. Sonic said that both acquisitions have been structured so as to provide tax deductions for goodwill amortization over 15 years, with a total net present value to Sonic of $5 million.
Sonic Healthcare’s CEO and managing director, Colin Goldschmidt, said: “ACS represents a highly synergistic acquisition for Sonic, as ACS adds further critical mass to Sonic in the high growth, important New York market. WCL fits very well into Sonic’s growing Tennessee business and provides new growth potential in the sizeable Nashville market. I wish to warmly welcome all ACS and WCL staff to the Sonic Healthcare group.”