Sonic purchased Piedmont Medical Laboratory of Winchester, Virginia, and Axiom Laboratories, of Tampa, Florida
Yesterday, Sonic Healthcare, Ltd., of Sydney, Australia, officially recognized the acquisition of two clinical laboratories in the United States: Piedmont Medical Laboratory of Winchester, Virginia, and Axiom Laboratories, of Tampa. The Axiom transaction was closed earlier this summer.
For both labs, Sonic will pay $20 million in cash and could pay $2.5 million more in performance-based bonuses over the next two years. As an indication of current pricing for laboratory services, the $20 million purchase price bought Sonic a total of approximately $16 million in annual revenue.