Sonic, Biogroup Among Bidders for $5 Billion Diagnostics Firm Unilabs

Australian medical lab company Sonic Healthcare Ltd. and French rival Biogroup-LCD are among bidders for Unilabs, the diagnostics firm being sold by Apax Partners, according to people familiar with the matter. Private equity house TPG and Belgian investment firm Groupe Bruxelles Lambert SA have also submitted offers for the Swiss business, the people said, asking not to be identified discussing.

Private equity house TPG and Belgian investment firm Groupe Bruxelles Lambert SA have also submitted offers for the Swiss business, the people said, asking not to be identified discussing confidential information. A sale could value Unilabs at about $5 billion, one of the people said.

Such assets have been popular among private equity firms and investors. EQT AB agreed to buy French laboratories group Cerba HealthCare in a 4.5 billion-euro ($5 billion) deal in March. The following month, German laboratory operator Synlab AG and investors including buyout firm Cinven raised 671 million euros in an initial public offering.