Synergy Health

Synergy Health plc (LSE: SYR) was a global company headquartered in the United Kingdom. The company provides specialist outsourced services to the healthcare and related markets around the world, including sterilization services for medical device and other manufacturers, decontamination of surgical instruments for hospitals and other medical practitioners together with related hygiene services. The company was listed on the London Stock Exchange until it was acquired by Steris Corporation in October 2015.

For the organization in Michigan, see Synergy Medical.
Synergy Health plc
TypePublic
LSE: SYR
IndustryHealth care
Founded1991
HeadquartersSwindon, Wiltshire
Key people
Sir Duncan K. Nichol, Chairman
Richard Steeves, CEO
ProductsDistribution of medical hygiene products
ServicesSterilisation and decontamination of medical instruments, laboratory services including pathology and drug testing, contract laundry for healthcare providers
Revenue£380.5 million (2014)[1]
£61.3 million (2014)[1]
£34.3 million (2014)[1]
Number of employees
4,500 (2012)[2]
Websitewww.synergyhealthplc.com

History

Synergy was founded in 1991 as a manufacturer of surgical packs in Corby, Northamptonshire, listing on the Alternative Investment Market in London that same year. In subsequent years the company grew organically and through acquisition, buying a number of healthcare-related companies including Shiloh,[3] and Vernon Carus[4] in the United Kingdom; Isotron Plc[5] which extended the company's footprint in Europe and Asia, and MSI[6] and SRI[7] which acted as a springboard into the United States.

In October 2014, medical technology provider Steris Corporation agreed to buy Synergy for £1.2 billion ($1.9 billion). The new Steris Corporation will be based in the UK for tax purposes (35 percent in US and only 25 percent in UK), while the US business will still operate.[8][9]

Operations

The company's services include the medical device sterilisation, sterilisation of reusable medical instruments, provision of outsourced laundry services and the reprocessing of surgical linen. Synergy also provides a range of laboratory services including occupational pathology services and workplace drug and alcohol testing. The company also distributes medical hygiene products such as proprietary antibacterial cleansers and wet wipes, swabs and bandages. The company operates in four regions: UK & Ireland, Europe & Middle East, Asia & Africa and the Americas.

References
  1. "Annual Results 2014" (PDF). Synergy Health. Retrieved 2015-04-23.
  2. Synergy Health: home page
  3. Synergy Healthcare takes a risk with £8.7m Shiloh deal
  4. OFT: Completed acquisition by Synergy Healthcare plc of Vernon-Carus Limited
  5. "Isotron acquisition helps give Synergy healthy bottom line; HEALTH". thefreelibrary.com. Retrieved 3 April 2015.
  6. Insider Media Ltd. "Synergy Health acquires US business". Insider Media Ltd. Retrieved 3 April 2015.
  7. "Synergy Health bets on U.S. markets with SRI/Surgical buy". Reuters. Retrieved 3 April 2015.
  8. Phil Serafino and Makiko Kitamura. "Steris Agrees to Buy Synergy Health for $1.9 Billion". Retrieved November 12, 2014.
  9. "STERIS to Acquire Synergy Health for $1.9 Billion in Cash and Stock". Retrieved November 12, 2014.
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