Monash IVF Group set to lose 5 fertility specialists

Company News

by Rachael Jones

Monash IVF Group (ASX:MVF) has been notified that five  Victorian based fertility specialists who currently refer patients for IVF treatment will stop using services from Monash IVF from September 2019.

The doctors are planning to establish their own independent IVF clinic with operational control.  

Collectively the Group of Doctors directly referred approximately 400 Stimulated Cycles for the year  ended 30  June 2019 generating revenues of approximately $5.9 million.
 
Management estimates the net profit after tax, on a variable contribution basis, for the year ending 30 June 2020 may be impacted by approximately $1.5 million to $2.5 million if all doctors cease referring to the Company by the end of 1Q20.  

Monash IVF has on-going strategies for growth and to mitigate the impact on revenue and earnings  of the Company as a result of the departure of the Doctors. 

Shares in Monash IVF Group (ASX:MVF) are trading 23.32 per cent lower at $1.08. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.