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SYNLAB acquires Finnish diagnostic services provider Cityterveys

Acquisition of Cityterveys allows SYNLAB to become one of the largest independent integrated diagnostic services provider in Finland.

Munich, 10 July 2017 – SYNLAB Limited ("SYNLAB" and “the Group”), the leading medical diagnostic services provider in Europe, announces that the Group has acquired 100 % of shares of Cityterveys (hereinafter: "Cityterveys"), a leading Finnish private healthcare company specializing in diagnostic services. With the closing of the transaction, SYNLAB became one of the most significant players in Finland’s private diagnostic services provider segment.

Cityterveys has experience in the field of diagnostics services, including imaging and laboratory services. Services are offered to private healthcare service providers, national and regional public institutions and private individuals. Cityterveys is the first private operator in Finland to offer 3D mammography for breast cancer diagnosis. Operations are carried out across a network of 26 locations with headquarters in Helsinki, Finland. 

Cityterveys’ strong presence in Finland, combined with SYNLAB’s existing infrastructure, geographically expands and strengthens the offering in the north-eastern parts of Europe and thereby affirms the Group’s proven consolidation strategy. The acquisition of Cityterveys allows SYNLAB to become one of the largest independent integrated diagnostic services providers in Finland offering a wide spectrum of services to private individuals, private and public healthcare institutions and occupational healthcare service providers. 

With approximately 100 employees, Cityterveys has generated revenues exceeding EUR 13 million in 2016. 

Dr Bartl Wimmer, CEO of SYNLAB Group: “Through the acquisition of Cityterveys, we continue the expansion of our laboratory network and newly, integrated diagnostic services in Europe. SYNLAB and Cityterveys complement each other not only geographically, but also strategically since both companies offer B2B and B2C services in the medical diagnostics industry.” 

Martti Kiuru, CEO of Cityterveys: “Becoming part of SYNLAB’s existing network extends our capabilities to better service our existing customers and strengthen our position of acquiring new customers. We are excited to partner with an organisation that enables us a perfect strategic fit, offering a more comprehensive set of services to our customers.” 

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