Australian Clinical Labs

Founded in 1987, owned by Crescent Capital Partners, and based in Melbourne, Australia, Australian Clinical Labs is a medical company that offers various pathology services through a network of over 1000 collection centers around Australia. The company has 88 laboratories, and partners with 90 private and public hospitals, and medical facilities. As of 2021, the company staffs over 3,800 employees including over 90 pathologists. In 2021, Australian Clinical Labs raised AUD 408.

6 million in an IPO, selling 102. 15 million shares at AUD 4 per share on the ASX under the ticker symbol ACL. The transaction values the company at AUD 809 million. Australian Clinical Labs provides a wide variety of pathology services for doctors, and corporate clients, including routine pathology tests, advanced pathology, first-trimester screening, and non-invasive prenatal testing chemical pathology, hematology, histopathology, immunology, serology and microbiology, functional pathology, and commercial drug & alcohol testing.

The company also provides CPD programs, skin pathology, genetic services, and specialist services like molecular cancer services, obstetrics and gynecology, and hospital services. Additionally, ACL offers clinical pathology lab testing for coeliac diseases, vitamin D testing, early-onset pre-eclampsia screening, respiratory PCR, and aspect liquid biopsy along with harmony NIPT, gene access carrier screen, fecal PCR, disaccharidases, and calprotectin test. Australian Clinical Labs is also developing traditional molecular testing and new medical technologies, telehealth for consultation support, and electronic results in the portal to reach the patients from other places. In 2021, 70% of the ACL’s revenue came from Medicare funding and reimbursements for pathology services.

ACL plans on utilizing the proceeds of the IPO towards payment of the company’s external liabilities and broadening the shareholder base thereby having a market capitalization of USD 809. 3 million. The company expects its revenue to be AUD 647 million in FY2021 and the EBITDA to be 76% higher than last year at AUD 178 million.