M&A Deal Summary

Sonic Healthcare Acquires CBLPath

On November 8, 2010, Sonic Healthcare acquired medical products company CBLPath from Galen Partners for 124M USD

Acquisition Highlights
  • This is Sonic Healthcare’s 21st transaction in the Medical Products sector.
  • This is Sonic Healthcare’s 9th largest (disclosed) transaction.
  • This is Sonic Healthcare’s 12th transaction in the United States.
  • This is Sonic Healthcare’s 1st transaction in Florida.
Investment Fate
  • CBLPath was divested to a consortium of strategic buyers in 2017.

M&A Deal Summary

Date 2010-11-08
Target CBLPath
Sector Medical Products
Buyer(s) Sonic Healthcare
Sellers(s) Galen Partners
Deal Type Add-on Acquisition
Deal Value 124M USD
Advisor(s) Lazard Middle Market (Financial)

Target

CBLPath

Ocala, Florida, United States
CBLPath, Inc. is a physician‐owned medical practice providing surgical pathology and cytopathology services to eight hospitals and five referring physician group clients in Central and Southern Alabama.

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Buyer(S) 1

Buyer

Sonic Healthcare

Sydney, Australia

Category Company
Founded 1934
Sector Medical Products
Employees37,000
Revenue 8.9B AUD (2024)
DESCRIPTION

Sonic Healthcare is a medical diagnostics companies, providing laboratory and radiology services to medical practitioners, hospitals, community health services, and their collective patients. Sonic Healthcare was founded in 1934 and is based in Sydney, Australia.


DEAL STATS #
Overall 28 of 43
Sector: Medical Products M&A 21 of 27
Type: Add-on Acquisition M&A Deals 24 of 35
State: Florida M&A 1 of 2
Country: United States M&A 12 of 16
Year: 2010 M&A 2 of 2
Size (of disclosed) 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-05 Medhold NV

Antwerp, Belgium

Medhold NV is a clinical laboratory company.

Buy €232M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-17 Physician s Automated Laboratory

Bakersfield, California, United States

Physician's Automated Laboratory is a high quality, physician-owned laboratory and has developed a major market share in Bakersfield and surrounding areas.

Buy -

Seller(S) 1

SELLER

Galen Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 15 of 26
Sector: Medical Products M&A 3 of 6
Type: Add-on Acquisition M&A Deals 14 of 22
State: Florida M&A 2 of 2
Country: United States M&A 15 of 26
Year: 2010 M&A 3 of 3
Size (of disclosed) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-02 Pet DRx

Brentwood, Tennessee, United States

Pet DRx Corp. is a provider of primary and specialty veterinary care services to companion animals through a network of veterinary hospitals.

Sell $41M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-04 Integrated Diagnostic Centers

Houston, Texas, United States

Integrated Diagnostic Centers (IDC) builds, leases and operates facilities that house a combination of diagnostic healthcare services. It helps physician groups bring new value to their practices and their patients without the capital commitment and other downsides of traditional healthcare business opportunities, without adding management hassles or workload to the practice. Integrated Diagnostic Centers is based in Houston, Texas.

Buy -