MUNICH (dpa-AFX) - Laboratory services provider Synlab has sold its activities in Switzerland to Australian company Sonic Healthcare. The business in Switzerland is expected to generate sales of around 50 million euros in the second half of the year, the SDax company announced in Munich on Tuesday. The sale will not lead to a change in the sales forecast for fiscal 2023 of around 2.7 billion euros, the company said. However, the transaction will have a positive impact on the adjusted Ebitda margin within the given guidance of 16 to 18 percent for fiscal 2023, it added. It will also reduce adjusted net debt by around 154 million euros. The sale is expected to be completed at the beginning of July. No details were given on the specific sale price.

As expected, the end of the Corona pandemic continued to affect the laboratory services provider Synlab at the beginning of the year. The fact that the group has sold significantly fewer Covid tests than a year ago is strongly reflected in the figures for the first quarter. Sales and earnings declined significantly./stk/jha/