Sonic Healthcare (SHL)

Shares / Stock Code

SHL

Stock Exchange / Sharemarket

ax

One of Australia's leading provider of pathology services, Sonic Healthcare Limited (SHL) is a medical diagnostics company engaged in providing radiology and pathology services as well as administrative services and facilities to medical practitioners, patients community health services and hospitals. SHL was listed on the Australian Stock Exchange on the 30th of April 1987. Its average annual revenue reaches approximately $1 billion out of its issued capital of approximately $800 million. Its headquarters is located in Macquarie Park, Australia and to date; around 8,625 people are employed in the company. Sonic Healthcare Limited operates mainly in three business segments: Pathology Segment, Radiology Segment and other segment.

The pathology segment of Sonic Healthcare (SHL) is in charge of the provision of medical testing through SHL's subsidiaries that include a group of pathologists providing specialised pathology testing and other subsidiaries offer online services for faster release of the pathological testing. The companies included in the subsidiaries of SHL are Bunbury Pathology, Barratt & Smith Pathology, Capital Pathology, The Schottdorf Group and the Douglass Hanly Moir Pathology and others.

Sonic Healthcare's radiology segment is engaged in providing diagnostic imaging services through the company’s network of subsidiaries that includes Hunter Imaging Group, Castlereagh Imaging, Queensland X-Ray, Illawarra Radiology Group, SKG Radiology, Mercy Radiology Group, Canterbury Medical Imaging, Palmerston North X-Ray and others.

Other segments of SHL include other minor operations, corporate office function and the Independent Practitioner Network Limited results.

Sonic Healthcare Limited (SHL) Company History

In 1987, Sonic Healthcare Limited (SHL) became a public company. The company was still called Sonic Technology Australia back then. Sonic expanded its business in 1992 when they acquired the practice of Adelaide Pathology, Clinpath Laboratories. Shortly after, Clinpath and the branch of South Australian Douglass Laboratories merged.

In the mid 90s, they acquired more practices. In 1994, they acquired a Sydney practice, Tan Pathology. Then in the following year, the company acquired Pathlab, an Adelaide practice which became one of the Clinpath Laboratories’ part.

In 1996, they have made more acquisitions, one of them was Hanly Moir pathology, Barratt Smith Moran Pathology, which was based in Canberra, and some pathologists of Barratt and Smith. Then in the following year, Barratt Smith Moran Pathology became Capital Pathology, simultaneously, Lifescreen Australia was acquired by Sonic Healthcare.

In 2002, Sonic Healthcare improved its operations overseas when they acquired a United Kingdom-based practice of private pathology, the Doctors Laboratories. Dr. Tom Lynch laboratories were also purchased by Sonic Healthcare. The following year, the company acquired Southside Diagnostic Services Group; it was based in Brisbane practice of private radiology.

Sonic healthcare later then acquired Endeavour Healthcare’s assets. 82 percent was the company’s interest in Clinical Pathology Laboratories which is a US-based company. In addition, they also acquired the laboratories in Texas and Tennessee, which was owned by American Esoteric Laboratories Inc.