Vitura Health Limited (ASX:VIT) Acquires Candor Medical
Acquisition Details
Vitura Health Limited (ASX: VIT) has entered into a Share Purchase Agreement to acquire Livelihood Health Pty Ltd and its associated companies, operating under the Candor Medical brand. The purchase price is $5.9 million, funded by a $4.0 million initial cash payment via a Private Placement to Professor Khalil (Charlie) Shahin AO, and a deferred payment of $1.9 million over 18 months. The acquisition includes Candor Medical’s 15,000 active patients and its clinical team of 26 doctors and nurses.
Financial Performance
In FY2024, Candor’s consolidated unaudited EBITDA exceeded $1 million, with the first half of FY2025 showing a material increase to over $1 million. The acquisition is expected to significantly increase Vitura’s earnings per share post-placement of shares. This expansion positions Vitura among Australia’s largest medicinal cannabis clinic providers, with annual consultations expected to surpass 100,000.
Executive Comments
CEO Geoff Cockerill stated, “We are very pleased to have joined forces with Joel and Dr Lisa Beckett, two recognised leaders in the Australian medicinal cannabis clinic industry. We are very excited by the opportunities unlocked by this acquisition which we see as a great opportunity to bring together two leaders in the field, both of whom have a deep alignment on the commitment to providing patients with personalised care and which reinforces our goal to make specialty healthcare product and service verticals more accessible to millions of patients across Australia. The ability for us to combine the large patient base of Doctors on Demand that delivers high quality general healthcare, the personalised approach of Candor to deliver an extended patient experience of more specialised healthcare verticals, and the deep pharmacy and distribution network facilitated by Canview will be a game changer to the Australian digital health landscape. Importantly, this acquisition complements our existing physical clinic business in providing patients with greater flexibility and options in how they choose to access doctor consultations,” Mr Cockerill added.
Dr Lisa Beckett said, “We’re very excited to be joining Vitura and for the opportunities that the acquisition unlocks for our growing number of patients, as well as the future financial performance of the company overall. It is clear we both have an aligned vision for what specialty and emerging healthcare treatments look like in the future and our focus now lies on delivering a smooth integration with the teams and operations to ensure a strong foundation is created for continued growth.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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