Virtus Health Limited (ASX:VRT) has expanded its international network to Singapore with a new $3.5 million clinic expected to provide a platform to access the South-East Asia region.
Australia’s biggest IVF provider has started development of its first international Virtus branded fertility centre in the centre of Singapore which is expected to open at the end of this year.
Virtus has teamed up with three Singaporean fertility specialists to establish the Virtus Fertility Centre which will be located at the Scotts Medical Centre.
CEO Sue Channon says Asia is currently an underserviced and fragmented IVF market and Singapore is an excellent choice in the region given the legal and regulatory environment.
The company says it has identified Singapore as a central platform in a region where demand for IVF services is expected to grow.
Virtus Health reported a net profit of $16.9 million in the first half of the 2014 financial year.