Laboratory services group Synlab has announced plans to go public on the Frankfurt Stock Exchange. The German company is looking to raise €400 million in the IPO, which it will use to repay part of its debt. Synlab is currently backed by investors including Cinven, Novo Holdings and Ontario Teachers' Pension Plan Board. The company has a network of more than 450 laboratories and over 1,600 blood collection points. It reported revenue of more than €2.6 billion in 2020.