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BERLIN, April 7 (Reuters) – German laboratory services group Synlab said on Wednesday it planned to float on the stock market, offering investors exposure to a coronavirus testing boom and the consolidation of Europe’s fragmented healthcare landscape.
Sources familiar with the matter have said that Synlab, owned by private equity group Cinven, could fetch a valuation of 6 billion euros ($7.1 billion) including debt when it lists in Frankfurt.
Cinven bought Synlab for 1.7 billion euros in 2015 from BC Partners and merged it with France-based Labco, creating Europe’s largest lab services provider handling about 500 million tests a year.
$1 = 0.8425 euros Reporting by Douglas Busvine, editing by Thomas Escritt
