Sonic Healthcare
Encyclopedia
Sonic Healthcare Limited is an Australian company that provides laboratory pathology and radiology services
.
The Sydney based company has its roots in the pathology practice of Douglass Laboratories, and since has become one of the largest diagnostic companies globally. It has a presence in Australia, New Zealand, USA, United Kingdom, Germany, Switzerland, Belgium and Ireland, now being the largest provider in Australasia and Europe and the third largest in the USA. It employs over 23,000 people.
It was listed on the Australian Stock Exchange
in 1987 as Sonic Technology Australia Ltd. The company changed its name to Sonic Healthcare Ltd in 1995. It is now part of the S&P/ASX 50
, and is one of the largest medical companies listed on the ASX, CSL Limited
, Cochlear
and ResMed
being the only other listed medical companies of comparable size. The company strategy is growth by acquisition of overseas companies. There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. Sonic has expanded its growth opportunities and diversified its revenue base with its moves offshore from Australia.
Amongst other things, Sonic's operating entities differentiate themselves from competitors with their emphasis on the preservation of strong medical cultures. Their so-called 'medical leadership' is reflected in management positions from CEO and Board level down and is aimed at the pursuit of traditional medical values/outcomes along with regular corporate objectives. Sonic's "Federation Model" is a corporate structure enabling its businesses to operate as decentralized, "largely autonomous medical practices within their local medical communities".
Annual Revenues for Financial Year to June 30, 2010 exceeded A$3.25 billion.
Dr Colin Goldschmidt is the CEO and Managing Director. Chris Wilks is the Finance Director. Paul Alexander is the Company Secretary and Group Financial Controller.
Mr David L. Schultz is the Chief Executive Officer, Sonic Healthcare USA. Mr Evangelos Kotsopoulos is the CEO, Sonic Healthcare Germany and Business Development Director, Europe.
Radiology
Radiology is a medical specialty that employs the use of imaging to both diagnose and treat disease visualized within the human body. Radiologists use an array of imaging technologies to diagnose or treat diseases...
.
The Sydney based company has its roots in the pathology practice of Douglass Laboratories, and since has become one of the largest diagnostic companies globally. It has a presence in Australia, New Zealand, USA, United Kingdom, Germany, Switzerland, Belgium and Ireland, now being the largest provider in Australasia and Europe and the third largest in the USA. It employs over 23,000 people.
It was listed on the Australian Stock Exchange
Australian Stock Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
in 1987 as Sonic Technology Australia Ltd. The company changed its name to Sonic Healthcare Ltd in 1995. It is now part of the S&P/ASX 50
S&P/ASX 50
The S&P/ASX 50 Index is a stock market index of Australian stocks listed on the Australian Securities Exchange from Standard & Poor's.It is a part of the S&P Global 1200.-Constituent companies:...
, and is one of the largest medical companies listed on the ASX, CSL Limited
CSL Limited
CSL Limited is a global specialty biopharmaceutical company that researches, develops, manufactures and markets products to treat and prevent serious human medical conditions...
, Cochlear
Cochlear Limited
Cochlear Limited is an Australian company that designs, manufactures and sells the Nucleus Cochlear implant along with the Bone Conduction Hearing Solution Baha osseointegrated bone conduction implant, with an estimated 250 000 cochlear implant/Baha recipients receiving a Cochlear Limited product...
and ResMed
ResMed
Founded in Australia, ResMed is now a global manufacturer of products for the treatment of sleep disorders, particularly obstructive sleep apnea . ResMed employs about 2700 employees worldwide, it has direct operations in 18 countries and distribution in more than 50 countries...
being the only other listed medical companies of comparable size. The company strategy is growth by acquisition of overseas companies. There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. Sonic has expanded its growth opportunities and diversified its revenue base with its moves offshore from Australia.
Amongst other things, Sonic's operating entities differentiate themselves from competitors with their emphasis on the preservation of strong medical cultures. Their so-called 'medical leadership' is reflected in management positions from CEO and Board level down and is aimed at the pursuit of traditional medical values/outcomes along with regular corporate objectives. Sonic's "Federation Model" is a corporate structure enabling its businesses to operate as decentralized, "largely autonomous medical practices within their local medical communities".
Annual Revenues for Financial Year to June 30, 2010 exceeded A$3.25 billion.
Dr Colin Goldschmidt is the CEO and Managing Director. Chris Wilks is the Finance Director. Paul Alexander is the Company Secretary and Group Financial Controller.
Mr David L. Schultz is the Chief Executive Officer, Sonic Healthcare USA. Mr Evangelos Kotsopoulos is the CEO, Sonic Healthcare Germany and Business Development Director, Europe.
Recent Acquisitions
- Sonic Healthcare acquired the laboratory business of Central Coast Pathology Consultants (“CCPC”), a high quality laboratory in California, USA. Feb 2011
- Sonic Healthcare acquired Physicians’ Automated Laboratory (“PAL”), based in Bakersfield, California, USA. Jan 2011
- Sonic Healthcare acquired two businesses in Belgium, KBL-BML-Unilabo Laboratory (“KBL”), based in Antwerp and the Woestyn Laboratory, based in Mouscron. Jan 2011
- Sonic Healthcare acquired of US pathology firm CBLPath for $US123.5 million (A$121.5 million).