International private equity firm Cinven announced on Monday an agreement to sell an indirect minority stake in SYNLAB to strategic investor LabCorp, a leader in innovative and comprehensive lab services. The 15 percent minority stake was sold for approximately €140 million.
LabCorp will acquire the minority stake through an intermediate holding company specifically established to hold the investment in SYNLAB.
Glenn Eisenberg, CFO of LabCorp, stated, "This investment by LabCorp marks another significant milestone in Cinven's robust track record in the healthcare sector."
The transaction is expected to be completed in the first quarter of 2025, pending regulatory approvals.
