At what enterprise value was SYNLAB acquired in 2015?

During the acquisition of SYNLAB by CINVEN in 2015, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Healthcare & Pharma industry currently tracks an average EBITDA multiple of 14.8x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SYNLAB when it was acquired by CINVEN?

The estimated EV/EBITDA multiple for SYNLAB is in the range of 10x - 18x. For comparison, the Healthcare & Pharma sector currently shows an average EBITDA multiple of 14.8x. Join our community for free to access full valuation data and industry trends.

When was SYNLAB acquired by CINVEN?

SYNLAB was acquired by CINVEN in 2015.

What was the revenue of SYNLAB at the time of the deal?

The revenue of SYNLAB at the time of the deal is estimated to be in the range of 450M - 900M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of SYNLAB during the acquisition?

SYNLAB's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the SYNLAB acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SYNLAB deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.cinven.com/portfolio/synlab/

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Home Database Healthcare & PharmaSYNLAB

08/2015

SYNLAB acquired by CINVEN

GERMANY Health Providers / Healthcare Facilities / Labs (Biology) EV 1b - 4b EUR

Context

The acquisition of Synlab by Cinven from BC Partners represents a landmark transaction in the European healthcare services sector, following closely on the heels of Cinven’s acquisition of the French group Labco. The strategic rationale for the deal is the immediate merger of Synlab and Labco to create a dominant pan-European champion in medical diagnostics. This "buy-and-build" strategy is designed to exploit the vast potential for consolidation in a European market where the top two providers previously held only a small fraction of the total market share. The merger combines Synlab’s strong presence in Germany and Northern Europe with Labco’s leadership in France and Southern Europe, resulting in a business with minimal geographic overlap. The partnership is focused on scaling the group’s annual clinical test volume and expanding its international reach into new markets across four continents. By institutionalizing the management and providing a platform for further bolt-on acquisitions, the deal positions the combined entity as a vital partner for healthcare professionals and hospitals seeking high-quality, efficient diagnostic services at scale. This investment highlights the trend of private equity driving industrial logic in the healthcare space to professionalize and internationalize specialized medical services.

SYNLAB, which reported an EBITDA margin of LOGIN in 2015, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Synlab is one of the largest European operators of medical diagnostic laboratories, providing a comprehensive range of clinical testing services for patients, doctors, and hospitals. The company operates an extensive network of laboratories and outpatient facilities across four continents, performing over 600 million tests annually. Its medical expertise covers diverse fields such as molecular biology, anatomic pathology, genetic testing, and nuclear medicine. Synlab’s business model is characterized by high-volume industrial processing combined with specialized medical interpretation provided by in-house laboratory doctors. A key competitive advantage is its unique portfolio of hospital outsourcing contracts throughout Europe, allowing it to integrate deeply into public and private healthcare systems. Strategically, the group focuses on the burgeoning demand for preventative medical services and the increasing complexity of diagnostic requirements, positioning itself as a central infrastructure provider in the European healthcare value chain.

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03/2014	EQT PARTNERS	I-MED RADIOLOGY NETWORK	AUSTRALIA	Health Providers	The EQT Mid Market fund, alongside institutional co-investors CDPQ and GIC, acquired a majority stake in I-MED Radiology Network. The deal followed a complex period for I-MED, which had recently refinanced its debt after being controlled by a syndicate of over 40 lenders (led by Ares and Anchorage) following the global financial crisis
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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SYNLAB by CINVEN are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: synlab

Acquirer: cinven