Australia’s largest IVF provider Virtus Health (ASX:VRT) has announced its Irish subsidiary has acquired a further 15 per cent of Ireland’s market-leading IVF provider Sims IVF Group.
The purchase was made for €4.8 million funded through existing cash resources.
The acquisition brings Virtus’ ownership of Sims IVF Group to 85 per cent.
Sims IVF Group’s full year net profit after tax was €3.1 million for the 2017 financial year.
The expansion comes after appointing a Managing Director of Europe in August this year to focus on Ireland and Denmark.
Shares in Virtus Health (ASX:VRT) are trading 0.18 per cent lower to $5.43.