Multibillion-dollar diagnostics services business Sonic Healthcare has acquired a significant minority stake in Microba Life Sciences and struck a strategic partnership with the gut health business.
Microba, an ASX-listed small-cap biotech, announced on Tuesday morning that Sonic would invest $17.8 million to acquire a 19.99 per cent stake in the company at 26¢ per share.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
