Cinven has sold an option to acquire more than 10% of Synlab to Novo A/S last year’s underbidder for the pan-European lab group. So why is Novo so keen on labs and what are its wider plans for its Large Investment group in healthcare services? Ontario Teachers also took a stake in Synlab in October 2015. We talk to Michael Shalmi, Head of Large Investment at Novo A/S.