SYNLAB SPAIN acquired by EUROFINS SCIENTIFIC
Context
Eurofins Scientific has completed the acquisition of 100% of SYNLAB’s clinical diagnostics operations in Spain. The transaction, initially agreed upon in October 2024, was finalized on March 31, 2025. This strategic carve-out allows SYNLAB to optimize its portfolio by exiting the Spanish market to focus on regions with higher strategic impact. For Eurofins, the acquisition is transformative, merging SYNLAB’s assets with its existing Eurofins Megalab network to become the undisputed leader in clinical diagnostics in Spain. The combined entity now possesses a workforce of over 2,000 employees and the capacity to serve more than 10 million patients annually, processing over 100 million tests. The strategic rationale centers on total geographic coverage of Spain and enhanced capabilities in specialized testing such as genetics. The deal was integrated without significant restructuring due to the complementary nature of the laboratory footprints.
By taking control of Synlab Spain, Eurofins Scientific continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Covance Food Solutions in 2018.
SYNLAB SPAIN, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
SYNLAB Spain is a leading provider of medical diagnostic services and specialty testing in the Spanish market. The organization provides a comprehensive range of clinical diagnostic tests, with specialized expertise in clinical genetics and anatomical pathology. Operating through an extensive network of laboratories and blood collection points, the entity serves both public and private clients across all regions of Spain. The business model focuses on high-quality, technologically advanced testing services, processing millions of laboratory tests annually. Prior to its acquisition, the unit was a core component of the German-headquartered SYNLAB Group, maintaining a highly specialized workforce and a strong reputation for scientific medical advances in the Iberian Peninsula.
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REFERENCES
Revenue range: 100M - 200M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: eurofins scientific