General Lab and Labco to create a leading European medical diagnostics Group
Labco and General Lab join forces to create a key player in the medical diagnostics sector. According to the companies, Integration of General Lab within the Labco network creates the first laboratory group in European market with more than 150 laboratories and 1,600 employees. Combined entities expect to reach sales of c. EUR240 million in 2007. Management from both groups to bring their expertise together in building a European leader in medical diagnostics promoting innovation and quality for patients and physicians.
With 44 fully-owned laboratories and 27 partnerships with hospitals in Spain and Portugal, General Lab shall enable Labco to further increase its European footprint. After the integration, the Labco network expects to reach sales of c. EUR240 million in 2007, positioning itself as the main independent European player with a significant presence in key markets. As such, Labco is shaping the EUR25 to EUR30 billion laboratory medicine sector in Europe.
General Lab will pursue its independent growth in Iberia, while its managers will be fully integrated into the global governance of the group. The combined management team will be bringing together their specific expertise of operating in two different healthcare systems for the benefit of both Labco and General Lab.
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