Sonic Healthcare Limited is an Australian company that provides laboratory services, pathology, and radiology services. The Sydney-based company has its roots in the pathology practice of Douglass Laboratories, and since has become one of the largest diagnostic companies globally. It has a presence in Australia, New Zealand, USA, United Kingdom, Germany, Switzerland, Belgium and Ireland . Being the largest medical laboratory provider in Australasia and Europe and the third largest in the USA, it employs over 30,000 people. It was listed on the Australian Stock Exchange in 1987 as Sonic Technology Australia Ltd. The company changed its name to Sonic Healthcare Ltd in 1995. It is now part of the S&P/ASX 50, and is one of the largest medical companies listed on the ASX, CSL Limited, Cochlear and ResMed being the only other listed medical companies of comparable size. The company strategy is growth by acquisition of overseas companies. There is limited opportunity to expand further in the Australian marketplace and income in Australia is largely dependent on government health funding through Medicare. Sonic has expanded its growth opportunities and diversified its revenue base with its moves offshore from Australia. In 2016, approximately 60% of the companys revenues were generated from business operations outside of Australia.