Sonic Healthcare

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Sonic Healthcare Ltd
Public
Traded as ASXSHL
Industry Health - Medical Diagnostics
Founded 1987. Parts of the company have operated for many decades
Headquarters Macquarie Park, Sydney, New South Wales, Australia
Key people
Dr Colin Goldschmidt (CEO , Managing Director)
Products Pathology/laboratory medicine and Imaging/radiology
Revenue Increase A$4,201 million (2015,[1])
Number of employees
30,000
Website www.sonichealthcare.com

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 the largest diagnostic companies globally. It has a presence in Australia, New Zealand, USA, United Kingdom, Germany, Switzerland, Belgium and Ireland . Being the largest medical laboratory provider in Australasia and Europe and the third largest in the USA, it employs over 30,000 people.[1]

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.[2] 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.[3] There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. Sonic has expanded its growth opportunities and diversified its revenue base with its moves offshore from Australia. In 2016, approximately 60% of the company's revenues were generated from business operations outside of Australia.

Amongst other things, Sonic's operating entities differentiate themselves from competitors with their emphasis on the preservation of strong medical cultures.[citation needed] Their so-called 'Medical Leadership' is reflected in management positions from CEO and Board level down and is aimed at the pursuit of traditional medical values/outcomes along with regular corporate objectives.[4] Sonic's "Federation Model" is a corporate structure enabling its businesses to operate decentralized, "The structure reinforces the identity and management autonomy of each local operation. Each operation has its own CEO or President and management team. When Sonic acquires businesses, these most often maintain their management autonomy, brand, and consequently their local "flavour". This is the structure which is most resonant with local medical communities and which best preserves acquired goodwill.".[4]

Annual Revenues for Financial Year to June 30, 2015 exceeded A$4.2 billion.[1]

Dr Colin Goldschmidt is the CEO and Managing Director. Chris Wilks is the Finance Director. Paul Alexander is the Company Secretary and Group Financial Controller.

Mr Steve Shumpert is the Chief Executive Officer, Sonic Healthcare USA. Mr Evangelos Kotsopoulos is the CEO, Sonic Healthcare Germany and Business Development Director, Europe. Dr Ian Clark is the Chief Executive Officer, Australian Pathology. Dr Philip Dubois is the Chief Executive Officer of Sonic Imaging. Dr Malcolm Parmenter is the Chief Executive of Sonic Clinical Services.

Select Acquisitions[edit]

  • Sonic Healthcare acquired Medisupport, based in Switzerland, July 2015
  • Sonic Healthcare acquired KLD in Belgium, July 2015
  • Sonic Healthcare acquired the laboratory business of Central Coast Pathology Consultants (“CCPC”), a high quality laboratory in California, USA. Feb 2011
  • Sonic Healthcare acquired Physicians’ Automated Laboratory (“PAL”), based in Bakersfield, California, USA. Jan 2011
  • Sonic Healthcare acquired two businesses in Belgium, KBL-BML-Unilabo Laboratory (“KBL”), based in Antwerp and the Woestyn Laboratory, based in Mouscron. Jan 2011
  • Sonic Healthcare acquired of US pathology firm CBLPath for $US123.5 million (A$121.5 million).[5]

References[edit]

  1. ^ a b http://www.sonichealthcare.com/media/95803/1463156.pdf
  2. ^ "History". Sonic Healthcare. 
  3. ^ Greenblat, Eli (2010-02-24). "Profits rise but Sonic disappoints". Sydney Morning Herald. Retrieved 2010-05-01. 
  4. ^ a b http://www.sonichealthcare.com/media/89818/annual_report_2014_inc_detail.pdf
  5. ^ "Sonic Healthcare acquires US pathology firm". created acquisition section. Business Spectator. Retrieved 8 November 2010. 

External links[edit]