SYNLAB Group buys majority stake in PathCare
Naira remains stable, investors’ turnover hits $728m
SYNLAB Group, last week, made an entry into the country with purchase of the majority shares in PathCare Nigeria, a development that has signaled investment opportunities to private medical laboratory market and public-private partnerships.
The move is also seen as a boost to providing Nigerian customers with greater access to benchmark medical diagnostics and with the Group’s existing business in Ghana, it now has market-leading position in West Africa.
The Europe-based provider of medical diagnostic services offers a full range of innovative and reliable medical diagnostics for patients, practising doctors, clinics and the pharmaceutical industry.
PathCare Nigeria is an emerging market leader in the field of human laboratory diagnostics, with a special focus on public-private partnerships and a strong market position based on its high-quality service, the breadth of its test portfolio, and its nationwide network.
With the transaction, SYNLAB allows PathCare Nigeria the ability to offer its Nigerian customers an extended portfolio of specialised tests being sourced from the SYNLAB network.
The company will benefit from the technological advancements and comprehensive cost-effective solutions to enhance the local business with hospitals and other customers.
With more than 200 employees, PathCare Nigeria operates six laboratories and 21 blood collection points across Nigeria and is engaged in a public-private partnership with the leading public hospital in Lagos, the largest city in Africa.
The Regional Head of SYNLAB Emerging Markets, Thomas Degott, said: “Nigeria has a population of about 186 million, but a large proportion of the population does not yet have access to modern medical diagnostics.
“PathCare Nigeria’s customers will benefit from an enhanced test portfolio drawing from the breadth and depth of SYNLAB’s international expertise.”
The Managing Director, PathCare Nigeria, Dr. Pamela Ajayi, explained that his company is pleased to be joining SYNLAB, with huge advantages of having the European Diagnostic Leader in Nigeria.
“This will bring the most modern technological advancements in the field within the reach of every Nigerian. PathCare Nigeria will continue to push the boundaries.
“The launch of this premier facility in Lagos with some of the most sophisticated technology in cytology and microbiology is just the beginning. We also expect this investment to have a positive impact on healthcare development in the country,” she said.
SYNLAB now operates in more than 35 countries across four continents and holds leading positions in most markets, with over 19,000 employees that contribute every day to the Group’s success across different geographies.
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