SYDNEY, AUSTRALIA: Sonic Healthcare Limited (ASX: SHL) has agreed to make investments $17.8 million to acquire a 19.99% shareholding in Microba Life Sciences Limited (ASX: MAP). In addition, Sonic is seeking to purchase choices for an additional 5% fairness position, topic to shareholder approval. Exercise of the choices by Sonic would result in a additional funding of $7.5 million in Microba.
Microba Life Sciences and Sonic Healthcare have additionally agreed preliminary binding phrases for a strategic alliance to ship Microba’s microbiome testing technology into Australia, New Zealand, Germany, United Kingdom, Belgium, Switzerland and the United States.
Microba’s Chief Executive Officer, Dr Luke Reid said, “We are excited to have Sonic Healthcare, a global chief in healthcare, become a main strategic shareholder and partner. Sonic is globally revered for its management in delivering trusted medical diagnostic services, and our partnership deeply aligns the pursuits of each companies to bring microbiome testing and therapeutics into the hands of clinicians and sufferers globally to enhance standard of care.
“This strategic partnership with Sonic is set to speed up worldwide distribution of Microba’s microbiome testing into primary and specialist healthcare, and transfer our testing deeper into routine affected person management.”
Sonic Healthcare’s Chief Executive Officer, Dr Colin Goldschmidt said, “Sonic Healthcare prides itself on delivering accurate, dependable medical diagnostics services utilizing main laboratory and informatics technologies. Our partnership with Microba exemplifies our dedication to make investments in cutting edge developments in laboratory medicine. We see microbiome testing becoming a key a half of pathology over coming years and are enthusiastic about the potential of this partnership and the alternatives that Microba’s technology will present for Sonic’s global operations, our referring clinicians, and our patients.”