Cinven, a private equity firm, completed the acquisition of Labco, an operator of medical diagnostic laboratories, for €1.2bn. "The combination of Cinven’s European network in France, Spain and Italy, where Labco operates, together with its longstanding healthcare sector knowledge has enabled us to originate, evaluate and execute this exciting opportunity. Cinven’s investment in Labco builds on its already strong positions in both the healthcare sector, particularly in in-vitro diagnostics following its highly successful (and now realised) investments in Phadia and Sebia, and the French market," Stuart McAlpine, Cinven Partner.