Virtus Health acquires further 15% in Sims IVF Group

Company News

by Kathy Skantzos

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.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.