Sonic Healthcare Limited (ASX:SHL) acquired ProPath Laboratory, Inc. on December 17, 2021. The acquisition was funded from cash and available debt lines. The revenue of ProPath Laboratory, Inc. as of December 31, 2020 is $110 million. The acquisition will be immediately earnings per share accretive. The return on capital invested is expected to exceed Sonic's cost of capital in the first year, and is enhanced as the vast majority of the purchase price will be deductible for US income tax over a 15-year amortisation period. John McGowan, Bill Morrison, Brandon McCoy, Lauren White, Don Shiman, Scott. Raquel Alvarenga and Randy Peak of Haynes and Boone, LLP acted as legal advisor to ProPath. Coker Capital served as a financial advisor to ProPath.

Sonic Healthcare Limited (ASX:SHL) completed the meeting of ProPath Laboratory, Inc. on December 17, 2021.