PCR Testing Providers Reel in Mega Profits During COVID-19 Years
The latest annual reports from three major pathology firms—that provided large-scale PCR testing during the pandemic—reveal bumper profits from the COVID-19 years.
Global pathology provider, Sonic Healthcare reeled in a record $1.46 billion (US$950 million) net profit—an 11 percent increase on the previous year—while its revenue was also up seven percent to $9.3 billion.
The company is the largest medical laboratory and pathology service provider in Australasia, Europe, and the third-largest in the United States.
“Sonic’s balance sheet is very strong, after two years of exceptional profit and cash flow generation,” said Chairman Mark Compton in the company’s annual report….