German medical firm SYNLAB sells vet business to Mars
The move allows Mars’ Science & Diagnostics division to expand its European footprint.
Munich-based provider of laboratory diagnostic services SYNLAB has agreed to sell its veterinary business to Mars.
SYNLAB Vet will join the portfolio of Mars Petcare, integrating their services across veterinary health and diagnostics, nutrition, innovation, and technology.
Nefertiti Greene, President at Mars Science & Diagnostics, says that the transaction complements their existing diagnostics business and believes it will bring additional reach across the European region.
SYNLAB, which did not reveal the value of the deal, has allegedly decided to sell the business to Mars to refocus on its core human diagnostic operations.
According to some sources, the firm’s veterinary diagnostics unit generated only 1% of the group’s total €3.2 billion ($3.4B) revenue in 2022.
SYNLAB operates across 40 countries over 4 continents, primarily boasting a strong network in Europe.
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