Europe’s largest laboratory services provider Synlab has announced plans for a public offering, pitching itself as an opportunity for investors to cash in on coronavirus-related growth and consolidation in the healthcare market.

The Munich-based company, which is owned by private equity group Cinven, aims to raise €400m through newly created shares, while existing shareholders Cinven, Novo Holdings and the Ontario Teachers’ Pension Plan Board will also sell stakes.

The listing on the Frankfurt stock exchange, which is planned for the second quarter, could value Synlab at as much as €6bn including debt. The company declined to give details of what percentage of the company was being sold with the new shares.

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Source: Financial Times

By Erika Solomon