Labco

Region: France
Sector: Healthcare

Nature of Business

Labco is the pan-European clinical diagnostic services provider which is a leading player in France, Portugal, Belgium, Italy, Spain, UK, Switzerland and have recently entered the Latin American market. The company covers both routine and speciality tests with activity balanced between ambulatory care and hospital outsourcing.

Labco has over 170 laboratories, c.1,000 collection centres, more than 4,500 employees and treats over 18 million patients each year.

Founded in Paris in 2003, Labco has experienced huge growth following 3i's investment, based on successful acquisitions and the integration of small and medium-sized clinical laboratories and diagnostics centres.  They have also made more than 94 acquisitions since 2008.

Investment Overview

We have invested €130m through several tranches since July 2008 and have syndicated €15m.

Through our Business Leaders Network, we introduced Andreas Gaddum as Non-Exec Chairman, experienced Healthcare player Daniel Bour, former CEO of General de Santé, as NXD and Stuart Quin (ex-3i) was appointed CEO of Labco UK in 2014.

We have also launched a procurement initiative and have closely supported the company’s successful high yield issue (€500m), as well as the €100m “add-on notes”, in February 2013.

We have actively supported Labco’s buy-and-build strategy through our European healthcare network, leading to the introduction of acquisition opportunities in France, Spain and Italy. More recent transactions include the strategic disposal of Germany to Sonic Healthcare at a double digit multiple, and the acquisition of SDN, enabling Labco to become the leader in the Italian market.

Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

3i office contact

3 rue Paul Cézanne
75008 Paris
Tel: + 33 1 73 15 11 00

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