Sonic Healthcare Limited (ASX: SHL; ADR: SKHHY) is pleased to announce that its UK joint venture, Health Services Laboratories, has won the exclusive contract to provide pathology/clinical laboratory services to Barnet Hospital and Chase Farm Hospital in London. Both hospitals are part of the Royal Free London NHS Foundation Trust.
Health Services Laboratories LLP is 51% owned by Sonic’s UK subsidiary, The Doctors Laboratory (TDL), with the balance owned by the University College London Hospital NHS Foundation Trust (UCLH) and the Royal Free London NHS Foundation Trust. University College Hospital, The Royal Free Hospital and North Middlesex University Hospital are existing major clients of Health Services Laboratories (“HSL”).
The new contract has a term of 12 years, and is expected to contribute in excess of £12 million of revenue per annum to HSL. The onsite laboratory at Barnet Hospital will be completely remodeled receiving new equipment and platforms to support the hospitals’ acute services, and non-urgent and specialist testing will be centralised into TDL/HSL’s new hub laboratory in central London (“The Halo”).
David Byrne, CEO of TDL and HSL said: “We are delighted to welcome the laboratory staff of Barnet Hospital and Chase Farm Hospital into the TDL/HSL family, and look forward to providing the best possible pathology service to their doctors and patients. HSL continues to grow, and we are excited by the pipeline of further potential National Health Services customers.”
Caroline Clarke, Chief Finance Officer and Deputy Chief Executive of the Royal Free London, said: “This is an important milestone for the Royal Free London and means we can continue to deliver high quality diagnostic services across all hospitals in our Trust. We have been moving towards this extension of our partnership for some time and I would like to thank everybody – especially our staff – for their hard work in getting us to this position.”
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