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Sonic, Biogroup Among Bidders for $5 Billion Diagnostics Firm Unilabs

TPG, GBL also make offers for Apax-owned diagnostics company
Brookfield Asset Management weighs teaming up with one bidder

Photographer: Tomohiro Ohsumi/Bloomberg

By

Manuel Baigorri, and

November 18, 2021, 5:11 PM UTCUpdated onNovember 19, 2021, 7:46 AM UTC

Australian medical lab company Sonic Healthcare Ltd. and French rival Biogroup-LCD are among bidders for Unilabs, the diagnostics firm being sold by Apax Partners, according to people familiar with the matter.

Private equity house TPG and Belgian investment firm Groupe Bruxelles Lambert SA have also submitted offers for the Swiss business, the people said, asking not to be identified discussing confidential information. A sale could value Unilabs at about $5 billion, one of the people said.