Private equity house Cinven has agreed to
buy LabcoGroup for €1.2 billion, a sign that the
Eurozone’s recovery is gathering pace.
Headquartered in France, Labco is a
laboratory and hospital services specialist that
conducts clinical tests on behalf of health
services and hospitals and puts its in-house
team of laboratory doctors at clients’ disposal
to interpret test results.
Over the course of 2014, the group brought in
an estimated€650million in revenues.
Established in 2003, it has a network of 160
labs, employsmore than 6,000 employees and
medical specialists and conductsmore than 150million tests each year. The price agreed between Cinven and
Labco’s owners represents the company’s enterprise value. Cinven values the clinical diagnostic sector at €75
billion. Spending on clinical laboratory services only accounts for around one per cent of healthcare costs,
but Cinven expects this to grow as health services increasingly look to reap cost benefits from early diagnosis
and look for cost savings through outsourcing clinical testing.
Since 2008, Labco hasmore than trebled revenues andmademore than 130 acquisitions. Its track record
in buying and integrating these businesses was one of the factors attracting Cinven, alongwith strong
financial performance and expertise in specialist areas such as anatomical pathology. Cinvenwill look to
expand the business through further acquisitions as well as through organic growth into emergingmarkets.
Labco is headquartered in France and operates in Belgium, Italy, the UK, Spain and Portugal.
Cinvengivesdiagnosticsspecialist
Labcoa€1.2bncash injection
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