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3i leads equity investment in medical diagnostics company Labco23/07/2008. Source: AltAssets. 
 3i has invested €140m of equity for a minority stake in European medical diagnostics network Labco. The firm invested alongside TCR Capital, Natixis Investment Partners and existing shareholder CIC Finance, who committed an additional €60m, with healthcare professionals and Labco managers investing a further €58m. In addition, Labco has secured €300m in senior debt, with a possible extension of €50m, and €120m in mezzanine financing.
Following the deal, 3i partners Denis Ribon and Richard Bishop will join the Labco board.
The investment will support Labco's international expansion, funding growth in the company's core markets of France, Spain, Portugal, Germany, Italy and Belgium, according to a statement.
Labco operates a network of over 250 labs in six countries, providing diagnostic services to patients, General Practitioners and hospitals.
Ribon, head of healthcare for Europe, 3i, said, 'Labco is a fast-growing, well differentiated, European leader in the medical diagnostics market with a first-class management team. In a consolidating market, the consortium of investors led by 3i has been impressed by Labco's proven commitment to quality and efficiency towards patients and physicians. We are confident in its capacity to achieve outstanding growth in Labco's core international markets.'
3i's recent investments in the healthcare sector include Quintiles, Ultralase and Alpharma API.
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