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Sonic Healthcare Limited is an Australian company that provides laboratory services, pathology, and radiology services.
The Sydney-based company has its roots in the pathology practice of Douglass Laboratories, and since has become one of Australia's largest diagnostic companies. It has a presence in Australia, New Zealand, United States, United Kingdom, Germany, Switzerland, Belgium and Ireland. It is the largest medical laboratory provider in Australasia and Europe and the third largest in the US, it employs over 37,000 people.
It was listed on the Australian Stock Exchange in 1987 as Sonic Technology Australia Ltd. The company changed its name to Sonic Healthcare Ltd in 1995. It is now part of the S&P/ASX 50, and is one of the largest medical companies listed on the ASX, CSL Limited, Cochlear and ResMed being the only other listed medical companies of comparable size. The company strategy is growth by acquisition of overseas companies. With many critiques arguing that such a strategy can lead to over diversification, yet has seemingly worked well to expand its business There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. The firm has diversified its revenue base with moves offshore from Australia.
Annual Revenues for Financial Year to June 30, 2019 exceeded A$6.2 billion.
Dr Colin Goldschmidt is the CEO and Managing Director.
referencePosted on 30 Apr 2022, this text provides information on Miscellaneous in Medical related to Medical. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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